Teachers Retirement System of The State of Kentucky Increases Stake in Netflix, Inc. (NASDAQ:NFLX)

Teachers Retirement System of The State of Kentucky grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 29.3% in the third quarter, HoldingsChannel.com reports. The firm owned 119,366 shares of the Internet television network’s stock after buying an additional 27,052 shares during the quarter. Netflix comprises approximately 0.7% of Teachers Retirement System of The State of Kentucky’s holdings, making the stock its 14th largest holding. Teachers Retirement System of The State of Kentucky’s holdings in Netflix were worth $84,663,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in NFLX. State Street Corp raised its stake in shares of Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after acquiring an additional 426,740 shares during the last quarter. Geode Capital Management LLC raised its position in Netflix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after purchasing an additional 123,029 shares during the last quarter. Jennison Associates LLC lifted its holdings in Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after buying an additional 316,594 shares during the period. International Assets Investment Management LLC grew its position in shares of Netflix by 116,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after buying an additional 5,748,200 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Netflix by 0.5% during the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after buying an additional 23,702 shares during the period. Institutional investors own 80.93% of the company’s stock.

Netflix Trading Down 0.0 %

Shares of NFLX stock opened at $913.35 on Wednesday. The company has a market cap of $390.42 billion, a PE ratio of 51.69, a price-to-earnings-growth ratio of 1.80 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The stock’s 50 day simple moving average is $797.01 and its two-hundred day simple moving average is $712.57. Netflix, Inc. has a 1 year low of $457.21 and a 1 year high of $935.27.

Netflix (NASDAQ:NFLX) last announced its 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 net margin of 20.70% and a return on equity of 35.86%. The business had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. Research analysts predict that Netflix, Inc. will post 19.78 earnings per share for the current year.

Analyst Ratings Changes

NFLX has been the topic of a number of research reports. StockNews.com raised shares of Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Oppenheimer raised their target price on Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Canaccord Genuity Group increased their price objective on Netflix from $760.00 to $940.00 and gave the stock a “hold” rating in a report on Monday, December 2nd. China Renaissance started coverage on Netflix in a research report on Thursday, September 5th. They set a “hold” rating and a $680.00 price objective for the company. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $840.00 target price (up from $800.00) on shares of Netflix in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $783.00.

Insiders Place Their Bets

In related news, Director Jay C. Hoag sold 43,750 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $687.07, for a total value of $30,059,312.50. Following the transaction, the director now owns 95,040 shares of the company’s stock, valued at $65,299,132.80. This represents a 31.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Hyman sold 267 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $24,202,828.70. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 209,155 shares of company stock valued at $159,682,799 over the last 90 days. Insiders own 1.76% of the company’s stock.

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.