Kentucky Retirement Systems Insurance Trust Fund Cuts Stake in Netflix, Inc. (NASDAQ:NFLX)

Kentucky Retirement Systems Insurance Trust Fund lessened its stake in Netflix, Inc. (NASDAQ:NFLX) by 8.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 12,706 shares of the Internet television network’s stock after selling 1,192 shares during the quarter. Netflix accounts for approximately 0.6% of Kentucky Retirement Systems Insurance Trust Fund’s portfolio, making the stock its 23rd biggest position. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Netflix were worth $9,012,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Denver PWM LLC acquired a new position in Netflix during the second quarter worth approximately $25,000. Proffitt & Goodson Inc. lifted its position in shares of Netflix by 380.0% in the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its position in Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after acquiring an additional 42 shares during the last quarter. AlphaMark Advisors LLC grew its holdings in Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after buying an additional 45 shares during the period. Finally, First Personal Financial Services purchased a new stake in shares of Netflix during the 3rd quarter valued at $40,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. China Renaissance started coverage on Netflix in a research report on Thursday, September 5th. They issued a “hold” rating and a $680.00 target price on the stock. Morgan Stanley boosted their price objective on Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Wedbush upped their price target on shares of Netflix from $725.00 to $775.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, Needham & Company LLC increased their target price on shares of Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $748.15.

Insider Buying and Selling

In related news, Director Timothy M. Haley sold 11,090 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total transaction of $8,405,776.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Hyman sold 13,791 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $700.00, for a total value of $9,653,700.00. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at $22,127,000. The trade was a 30.38 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 205,084 shares of company stock valued at $146,747,101. Insiders own 1.76% of the company’s stock.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $823.96 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm’s 50 day moving average price is $735.77 and its 200-day moving average price is $679.56. The stock has a market capitalization of $352.21 billion, a PE ratio of 46.63, a price-to-earnings-growth ratio of 1.60 and a beta of 1.25. Netflix, Inc. has a twelve month low of $445.73 and a twelve month high of $841.00.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The business had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Equities research analysts expect that Netflix, Inc. will post 19.78 EPS for the current year.

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.