Factory Mutual Insurance Co. Reduces Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Factory Mutual Insurance Co. cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 31.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,348 shares of the Internet television network’s stock after selling 23,100 shares during the quarter. Factory Mutual Insurance Co.’s holdings in Netflix were worth $43,985,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of NFLX. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Netflix by 58.2% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 39,560 shares of the Internet television network’s stock worth $26,698,000 after purchasing an additional 14,560 shares during the last quarter. AMF Tjanstepension AB increased its holdings in Netflix by 7.4% during the 3rd quarter. AMF Tjanstepension AB now owns 68,460 shares of the Internet television network’s stock worth $48,557,000 after purchasing an additional 4,701 shares during the last quarter. Czech National Bank increased its holdings in Netflix by 6.5% during the 3rd quarter. Czech National Bank now owns 87,425 shares of the Internet television network’s stock worth $62,008,000 after purchasing an additional 5,312 shares during the last quarter. Meritas Wealth Management LLC increased its holdings in Netflix by 2.9% during the 3rd quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock worth $406,000 after purchasing an additional 16 shares during the last quarter. Finally, Apella Capital LLC increased its holdings in shares of Netflix by 5.9% in the 3rd quarter. Apella Capital LLC now owns 1,054 shares of the Internet television network’s stock valued at $749,000 after acquiring an additional 59 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wedbush reiterated an “outperform” rating and issued a $1,150.00 price target (up from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Piper Sandler reiterated an “overweight” rating and issued a $1,100.00 price target (up from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Robert W. Baird boosted their price target on Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Evercore ISI boosted their price target on Netflix from $950.00 to $1,100.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Finally, Morgan Stanley boosted their price target on Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.70.

Netflix Trading Up 0.4 %

Shares of NFLX stock opened at $976.76 on Friday. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $999.00. The stock has a market capitalization of $417.82 billion, a P/E ratio of 49.26, a P/E/G ratio of 2.03 and a beta of 1.27. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock has a 50-day simple moving average of $903.09 and a 200 day simple moving average of $775.54.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating the consensus estimate of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same period in the prior year, the business posted $2.11 earnings per share. Netflix’s revenue was up 16.0% compared to the same quarter last year. On average, sell-side analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Theodore A. Sarandos sold 1,278 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $767.05, for a total value of $980,289.90. Following the completion of the sale, the chief executive officer now directly owns 2,556 shares of the company’s stock, valued at approximately $1,960,579.80. This represents a 33.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy M. Haley sold 11,090 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total value of $8,405,776.40. The disclosure for this sale can be found here. Insiders sold a total of 105,516 shares of company stock valued at $92,377,637 over the last three months. Insiders own 1.76% of the company’s stock.

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.