Nippon Life Global Investors Americas Inc. reduces stake in Netflix, Inc. (NASDAQ:NFLX)

Nippon Life Global Investors Americas Inc. reduced its position in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 8.4% in the second 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 makes up about 1.7% of Nippon Life Global Investors Americas Inc.’s investment portfolio, making the stock its 20th largest position. Holdings held by Nippon Life Global Investors Americas Inc. 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 have also recently modified 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% in the first 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 valued at approximately $9,513,000. Scotia Capital Inc. raised 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 shares.

Indoor activity

In related news, Director Leslie J. Kilgore sold 428 shares of the firm’s stock in a transaction dated 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 via this link. In other news, Director Jay C. Hoag sold 43,750 shares of the business’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 via 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. Over the last ninety days, insiders have sold 197,226 shares of company stock worth $129,858,692. 1.76% of shares are currently owned by insiders.

Netflix stock down 0.5%

NFLX opened at $701.03 on Monday. Netflix, Inc. it 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 cap 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 – Get Free Report ) last announced its quarterly earnings results on Thursday, July 18th. The internet television network reported $4.88 EPS for the quarter, topping 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 company’s revenue increased by 16.8% year-on-year. In the same period last year, the company earned $3.29 per share. Analysts estimate that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Analysts set new price targets

NFLX has been the subject of several 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 upped 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 upped their target price 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 target price 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. The stock currently has a consensus rating of “Moderate Buy” and an average price target of $685.29, according to data from MarketBeat.

Get the latest research report on NFLX

About Netflix

(Free Report)

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films and games in different genres and languages. The company also offers members the ability to stream content through a range of internet-connected devices, including televisions, digital video players, TV set-top boxes and mobile devices.

Further reading

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