Meiji Yasuda Life Insurance Co Sells 1,110 Shares of Netflix, Inc. (NASDAQ:NFLX)

Meiji Yasuda Life Insurance Co decreased its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 13.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 7,108 shares of the Internet television network’s stock after selling 1,110 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Netflix were worth $2,534,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc boosted its holdings in shares of Netflix by 0.8% during the third quarter. Vanguard Group Inc now owns 30,143,430 shares of the Internet television network’s stock worth $11,277,562,000 after purchasing an additional 249,147 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Netflix by 17,848.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,931,481 shares of the Internet television network’s stock worth $89,000 after purchasing an additional 23,798,143 shares during the last quarter. Jennison Associates LLC boosted its holdings in Netflix by 9.0% in the fourth quarter. Jennison Associates LLC now owns 9,598,888 shares of the Internet television network’s stock valued at $2,569,238,000 after acquiring an additional 792,338 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in Netflix by 1.8% in the fourth quarter. Baillie Gifford & Co. now owns 7,629,879 shares of the Internet television network’s stock valued at $2,042,214,000 after acquiring an additional 136,096 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Netflix by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 5,342,932 shares of the Internet television network’s stock valued at $1,427,434,000 after acquiring an additional 148,252 shares during the last quarter. 77.05% of the stock is owned by institutional investors.

Shares of NASDAQ NFLX traded down $5.23 during midday trading on Wednesday, reaching $346.04. 208,060 shares of the company’s stock were exchanged, compared to its average volume of 8,400,935. Netflix, Inc. has a 52-week low of $231.23 and a 52-week high of $423.21. The firm has a market cap of $155.13 billion, a price-to-earnings ratio of 128.93, a PEG ratio of 3.60 and a beta of 1.30. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.61 and a current ratio of 0.61.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, April 16th. The Internet television network reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.19. Netflix had a return on equity of 24.75% and a net margin of 7.61%. The business had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.50 billion. During the same period in the previous year, the company earned $0.64 earnings per share. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, research analysts predict that Netflix, Inc. will post 3.34 EPS for the current year.

A number of research analysts recently weighed in on the company. Pivotal Research reiterated a “buy” rating and issued a $500.00 target price on shares of Netflix in a report on Tuesday, April 16th. BMO Capital Markets lifted their target price on Netflix from $440.00 to $470.00 and gave the company an “outperform” rating in a report on Tuesday, April 16th. Loop Capital upgraded Netflix from a “hold” rating to a “buy” rating and lifted their target price for the company from $395.00 to $425.00 in a report on Monday, June 3rd. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $450.00 target price on shares of Netflix in a report on Wednesday, April 17th. Finally, Wedbush lifted their target price on Netflix from $165.00 to $183.00 and gave the company an “underperform” rating in a report on Wednesday, April 17th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $386.03.

In related news, CEO Reed Hastings sold 52,458 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $367.25, for a total value of $19,265,200.50. Following the completion of the sale, the chief executive officer now directly owns 52,458 shares of the company’s stock, valued at $19,265,200.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders sold 166,838 shares of company stock valued at $60,415,372. 3.72% of the stock is owned by corporate insiders.

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Netflix Company Profile

Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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