Teachers Retirement System of The State of Kentucky lowered its stake in Netflix, Inc. (NASDAQ:NFLX) by 20.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 74,068 shares of the Internet television network’s stock after selling 19,063 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Netflix were worth $14,218,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Navellier & Associates Inc increased its stake in shares of Netflix by 8.4% during the fourth quarter. Navellier & Associates Inc now owns 3,991 shares of the Internet television network’s stock valued at $766,000 after buying an additional 309 shares during the period. Assetmark Inc. increased its stake in shares of Netflix by 1,148.5% during the fourth quarter. Assetmark Inc. now owns 14,395 shares of the Internet television network’s stock valued at $2,763,000 after buying an additional 13,242 shares during the period. Arthur M. Cohen & Associates LLC purchased a new position in shares of Netflix during the fourth quarter valued at approximately $1,082,000. ARK Investment Management LLC increased its stake in shares of Netflix by 47.0% during the fourth quarter. ARK Investment Management LLC now owns 139,238 shares of the Internet television network’s stock valued at $26,728,000 after buying an additional 44,542 shares during the period. Finally, Advantage Investment Management LLC increased its stake in shares of Netflix by 927.4% during the fourth quarter. Advantage Investment Management LLC now owns 1,387 shares of the Internet television network’s stock valued at $266,000 after buying an additional 1,252 shares during the period. Hedge funds and other institutional investors own 81.64% of the company’s stock.
In other Netflix news, insider Gregory K. Peters sold 9,618 shares of the stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $325.00, for a total value of $3,125,850.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jonathan Friedland sold 2,743 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $205.59, for a total value of $563,933.37. Following the completion of the transaction, the insider now directly owns 1,147 shares in the company, valued at approximately $235,811.73. The disclosure for this sale can be found here. In the last three months, insiders sold 473,489 shares of company stock worth $116,251,464. 4.90% of the stock is owned by corporate insiders.
Netflix (NASDAQ:NFLX) last posted its earnings results on Monday, January 22nd. The Internet television network reported $0.41 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.41. Netflix had a return on equity of 17.20% and a net margin of 4.78%. The company had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same quarter in the prior year, the company earned $0.15 earnings per share. Netflix’s revenue was up 32.6% on a year-over-year basis. analysts predict that Netflix, Inc. will post 2.73 EPS for the current year.
Several equities analysts have recently issued reports on the company. Piper Jaffray Companies boosted their target price on Netflix to $360.00 and gave the company an “overweight” rating in a research note on Friday, March 9th. Sanford C. Bernstein reissued an “outperform” rating and set a $340.00 target price (up from $302.00) on shares of Netflix in a research note on Friday, March 9th. Barclays set a $285.00 target price on Netflix and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Wells Fargo & Co set a $285.00 target price on Netflix and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Finally, Buckingham Research cut Netflix from a “buy” rating to a “neutral” rating and boosted their target price for the company from $251.00 to $257.00 in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Netflix has an average rating of “Buy” and an average target price of $244.79.
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Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.
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