TIAA Trust National Association Cuts Stake in Netflix, Inc. (NASDAQ:NFLX)

TIAA Trust National Association reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 18.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,907 shares of the Internet television network’s stock after selling 7,048 shares during the period. TIAA Trust National Association’s holdings in Netflix were worth $19,378,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Netflix by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock worth $22,220,936,000 after acquiring an additional 149,341 shares during the period. Capital World Investors raised its holdings in Netflix by 0.7% in the fourth quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock valued at $5,718,265,000 after buying an additional 78,320 shares during the period. Jennison Associates LLC raised its holdings in Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after buying an additional 929,193 shares during the period. Norges Bank purchased a new position in Netflix in the fourth quarter valued at approximately $2,558,598,000. Finally, Fisher Asset Management LLC raised its holdings in Netflix by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 4,121,104 shares of the Internet television network’s stock valued at $2,006,483,000 after buying an additional 78,298 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Netflix

In other Netflix news, Chairman Reed Hastings sold 22,526 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $670.49, for a total value of $15,103,457.74. Following the sale, the chairman now directly owns 57 shares in the company, valued at $38,217.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Gregory K. Peters sold 4,783 shares of Netflix stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,835,750. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Reed Hastings sold 22,526 shares of Netflix stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the sale, the chairman now owns 57 shares in the company, valued at $38,217.93. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,385 shares of company stock worth $44,469,351. 1.76% of the stock is owned by insiders.

Netflix Stock Performance

Netflix stock traded down $9.70 during mid-day trading on Friday, reaching $633.34. The company’s stock had a trading volume of 9,815,631 shares, compared to its average volume of 3,096,936. The firm has a market cap of $272.97 billion, a price-to-earnings ratio of 43.95, a PEG ratio of 1.37 and a beta of 1.27. The business has a 50 day moving average price of $655.73 and a 200-day moving average price of $603.37. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a twelve month low of $344.73 and a twelve month high of $697.49.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The company had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a return on equity of 33.22% and a net margin of 19.54%. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period last year, the business posted $3.29 earnings per share. Sell-side analysts predict that Netflix, Inc. will post 18.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NFLX. Morgan Stanley raised their price target on shares of Netflix from $700.00 to $780.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Argus raised their price target on shares of Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Pivotal Research raised their price target on shares of Netflix from $765.00 to $800.00 and gave the company a “buy” rating in a report on Friday, April 19th. The Goldman Sachs Group lifted their price objective on shares of Netflix from $650.00 to $659.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Citigroup lifted their price objective on shares of Netflix from $555.00 to $660.00 and gave the company a “neutral” rating in a research note on Monday, March 25th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $680.76.

Netflix Profile

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.