Nippon Life Global Investors Americas Inc. Trims Stake in Netflix, Inc. (NASDAQ:NFLX)

Nippon Life Global Investors Americas Inc. lowered its position in Netflix, Inc. (NASDAQ:NFLX) by 8.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 57,900 shares of the Internet television network’s stock after selling 5,330 shares during the period. Netflix accounts for about 1.7% of Nippon Life Global Investors Americas Inc.’s investment portfolio, making the stock its 20th largest holding. Nippon Life Global Investors Americas Inc.’s holdings in Netflix were worth $39,076,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in NFLX. M&G Plc purchased a new position in Netflix during the first quarter valued at $9,682,000. BSN CAPITAL PARTNERS Ltd lifted its position in Netflix by 24.4% during the 1st quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock valued at $155,185,000 after acquiring an additional 49,000 shares during the period. Scarborough Advisors LLC bought a new stake in Netflix during the fourth quarter worth about $9,513,000. Scotia Capital Inc. grew its holdings in Netflix by 9.1% in the fourth quarter. Scotia Capital Inc. now owns 25,351 shares of the Internet television network’s stock worth $12,343,000 after purchasing an additional 2,110 shares during the period. Finally, Focus Financial Network Inc. ADV bought a new position in shares of Netflix during the fourth quarter valued at approximately $3,700,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Activity

In related news, Director Leslie J. Kilgore sold 428 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $715.00, for a total value of $306,020.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Jay C. Hoag sold 43,750 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $687.07, for a total transaction of $30,059,312.50. Following the sale, the director now directly owns 95,040 shares in the company, valued at approximately $65,299,132.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Leslie J. Kilgore sold 428 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $715.00, for a total transaction of $306,020.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 197,226 shares of company stock worth $129,858,692. 1.76% of the stock is currently owned by insiders.

Netflix Stock Down 0.5 %

NFLX opened at $701.03 on Monday. Netflix, Inc. has a 52 week low of $344.73 and a 52 week high of $715.66. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. The firm has a 50-day simple moving average of $663.00 and a two-hundred day simple moving average of $641.15. The company has a market capitalization of $302.14 billion, a PE ratio of 48.65, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The company had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The firm’s revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the company earned $3.29 earnings per share. Analysts forecast that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NFLX has been the topic of a number of analyst reports. Citigroup boosted their price target on Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Guggenheim boosted their target price on Netflix from $700.00 to $735.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. UBS Group raised their price target on Netflix from $685.00 to $750.00 and gave the company a “buy” rating in a report on Friday, July 19th. KeyCorp upped their price target on shares of Netflix from $707.00 to $735.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Finally, Bank of America increased their price objective on shares of Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $685.29.

About Netflix

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.