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

TIAA Trust National Association cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 10.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 28,562 shares of the Internet television network’s stock after selling 3,249 shares during the period. TIAA Trust National Association’s holdings in Netflix were worth $25,458,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Pathway Financial Advisers LLC boosted its position in shares of Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 14 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in shares of Netflix during the 3rd quarter valued at about $25,000. Newton One Investments LLC purchased a new position in shares of Netflix during the fourth quarter valued at about $34,000. Pineridge Advisors LLC grew its position in shares of Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after purchasing an additional 40 shares in the last quarter. Finally, Princeton Global Asset Management LLC increased its holdings in shares of Netflix by 51.6% in the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock worth $42,000 after purchasing an additional 16 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Up 2.6 %

Shares of NASDAQ NFLX opened at $997.28 on Wednesday. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50. The stock’s fifty day simple moving average is $965.09 and its two-hundred day simple moving average is $863.43. The stock has a market capitalization of $426.59 billion, a PE ratio of 50.29, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.11 earnings per share. As a group, analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Transactions at Netflix

In related news, CAO Jeffrey William Karbowski sold 480 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $986.75, for a total transaction of $473,640.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Strive Masiyiwa sold 2,813 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total value of $2,835,138.31. The disclosure for this sale can be found here. Insiders have sold a total of 288,103 shares of company stock valued at $279,142,041 in the last 90 days. Insiders own 1.76% of the company’s stock.

Wall Street Analyst Weigh In

NFLX has been the subject of several research analyst reports. Wedbush restated an “outperform” rating and set a $1,150.00 price target (up previously from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Seaport Res Ptn upgraded shares of Netflix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Evercore ISI increased their price target on shares of Netflix from $950.00 to $1,100.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Rosenblatt Securities raised Netflix from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. Finally, Morgan Stanley raised their price objective on Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,016.78.

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.