Sumitomo Mitsui Trust Holdings Inc. Trims Stake in Netflix, Inc. (NASDAQ:NFLX)

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.0% in the 1st quarter, Holdings Channel reports. The firm owned 1,344,918 shares of the Internet television network’s stock after selling 13,289 shares during the period. Netflix comprises 0.6% of Sumitomo Mitsui Trust Holdings Inc.’s investment portfolio, making the stock its 27th largest holding. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Netflix were worth $816,809,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. SeaCrest Wealth Management LLC grew its position in Netflix by 10.8% during the first quarter. SeaCrest Wealth Management LLC now owns 3,752 shares of the Internet television network’s stock valued at $2,279,000 after acquiring an additional 365 shares during the last quarter. Naviter Wealth LLC grew its position in shares of Netflix by 12.0% in the 1st quarter. Naviter Wealth LLC now owns 2,592 shares of the Internet television network’s stock worth $1,574,000 after buying an additional 277 shares during the period. Nvest Financial LLC increased its stake in shares of Netflix by 18.3% during the first quarter. Nvest Financial LLC now owns 1,982 shares of the Internet television network’s stock valued at $1,204,000 after purchasing an additional 306 shares in the last quarter. State of Michigan Retirement System increased its position in Netflix by 13.9% during the 1st quarter. State of Michigan Retirement System now owns 153,149 shares of the Internet television network’s stock valued at $93,012,000 after buying an additional 18,700 shares in the last quarter. Finally, Dash Acquisitions Inc. bought a new position in shares of Netflix during the first quarter valued at $214,000. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Up 0.2 %

Shares of NFLX traded up $1.35 during mid-day trading on Wednesday, hitting $680.93. The company’s stock had a trading volume of 194,124 shares, compared to its average volume of 3,935,677. The firm has a market capitalization of $293.48 billion, a price-to-earnings ratio of 47.16, a PEG ratio of 1.46 and a beta of 1.27. The company’s 50-day moving average is $631.31 and its 200-day moving average is $586.51. 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 52-week low of $344.73 and a 52-week high of $689.88.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. During the same period in the previous year, the company posted $2.88 earnings per share. The firm’s revenue was up 14.8% on a year-over-year basis. On average, equities research analysts forecast that Netflix, Inc. will post 18.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on NFLX shares. CICC Research began coverage on shares of Netflix in a report on Thursday, May 2nd. They issued an “outperform” rating and a $650.00 price objective for the company. Macquarie raised their price objective on shares of Netflix from $595.00 to $685.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. boosted their price target on Netflix from $610.00 to $650.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Sanford C. Bernstein increased their price objective on shares of Netflix from $490.00 to $600.00 and gave the stock a “market perform” rating in a research note on Friday, April 19th. Finally, Loop Capital increased their target price on Netflix from $700.00 to $750.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. One equities 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $637.34.

Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 22,526 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the transaction, the chairman now directly owns 57 shares of the company’s stock, valued at approximately $38,217.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Gregory K. Peters sold 4,783 shares of Netflix stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,835,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Reed Hastings sold 22,526 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $670.49, for a total value of $15,103,457.74. Following the completion of the transaction, the chairman now directly owns 57 shares in the company, valued at $38,217.93. The disclosure for this sale can be found here. Insiders sold 71,385 shares of company stock valued at $44,469,351 in the last quarter. 1.76% of the stock is currently owned by corporate insiders.

Netflix Company 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.