Meiji Yasuda Asset Management Co Ltd. Cuts Stake in Netflix, Inc. (NASDAQ:NFLX)

Meiji Yasuda Asset Management Co Ltd. lessened its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 6.4% during the fourth quarter, HoldingsChannel reports. The firm owned 12,215 shares of the Internet television network’s stock after selling 834 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Netflix were worth $10,887,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. RPg Family Wealth Advisory LLC acquired a new position in Netflix during the 3rd quarter worth approximately $25,000. Pathway Financial Advisers LLC raised its stake 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 valued at $27,000 after purchasing an additional 14 shares during the period. Newton One Investments LLC acquired a new position in shares of Netflix during the fourth quarter worth $34,000. Pineridge Advisors LLC grew its holdings in Netflix by 4,000.0% during the 4th 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, FSA Wealth Management LLC purchased a new stake in Netflix during the 3rd quarter worth $38,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $1,175.00 price objective (up from $1,000.00) on shares of Netflix in a research report on Wednesday, January 22nd. Piper Sandler restated an “overweight” rating and set a $1,100.00 price objective (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Wolfe Research raised Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 target price on the stock in a research report on Thursday, January 23rd. Benchmark upgraded Netflix from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a research note on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,016.78.

Insiders Place Their Bets

In related news, Director Richard N. Barton sold 6,364 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the completion of the transaction, the director now owns 246 shares of the company’s stock, valued at approximately $216,327.48. This trade represents a 96.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 35,868 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total value of $31,853,653.44. Following the completion of the sale, the chairman now owns 114 shares of the company’s stock, valued at $101,241.12. The trade was a 99.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 288,103 shares of company stock worth $279,142,041 over the last ninety days. 1.76% of the stock is currently owned by company insiders.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $971.99 on Tuesday. The company has a market capitalization of $415.78 billion, a PE ratio of 49.02, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a fifty day moving average of $961.71 and a 200-day moving average of $861.09. Netflix, Inc. has a one year low of $542.01 and a one year high of $1,064.50.

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. The business had revenue of $10.25 billion during 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%. Netflix’s revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.11 earnings per share. As a group, equities analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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.