Varma Mutual Pension Insurance Co Cuts Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Varma Mutual Pension Insurance Co reduced its position in Netflix, Inc. (NASDAQ:NFLX) by 11.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 71,872 shares of the Internet television network’s stock after selling 9,226 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Netflix were worth $48,505,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of NFLX. Waddell & Associates LLC raised its stake in shares of Netflix by 1.9% during the 2nd quarter. Waddell & Associates LLC now owns 1,309 shares of the Internet television network’s stock worth $883,000 after buying an additional 25 shares in the last quarter. Ballentine Partners LLC raised its position in Netflix by 5.2% in the second quarter. Ballentine Partners LLC now owns 5,997 shares of the Internet television network’s stock worth $4,048,000 after acquiring an additional 295 shares in the last quarter. MRA Advisory Group lifted its stake in shares of Netflix by 35.3% in the second quarter. MRA Advisory Group now owns 1,055 shares of the Internet television network’s stock valued at $712,000 after purchasing an additional 275 shares during the period. Koss Olinger Consulting LLC purchased a new stake in Netflix during the second quarter worth about $1,259,000. Finally, Caprock Group LLC grew its position in Netflix by 37.4% during the second quarter. Caprock Group LLC now owns 16,496 shares of the Internet television network’s stock worth $11,133,000 after buying an additional 4,489 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NFLX. Sanford C. Bernstein boosted their price target on Netflix from $600.00 to $625.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. Bank of America boosted their target price on Netflix from $700.00 to $740.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Rosenblatt Securities raised their price target on Netflix from $554.00 to $635.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Benchmark boosted their price objective on shares of Netflix from $450.00 to $545.00 and gave the stock a “sell” rating in a research report on Tuesday, July 16th. Finally, China Renaissance started coverage on shares of Netflix in a report on Thursday. They set a “hold” rating and a $680.00 target price for the company. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $685.29.

Insider Buying and Selling at Netflix

In related news, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total value of $271,140.27. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $19,128,159.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Spencer Adam Neumann sold 433 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The disclosure for this sale can be found here. Insiders sold a total of 157,831 shares of company stock worth $102,721,884 in the last 90 days. 1.76% of the stock is owned by corporate insiders.

Netflix Stock Down 2.6 %

NASDAQ NFLX traded down $17.85 on Friday, reaching $665.77. The company had a trading volume of 2,991,265 shares, compared to its average volume of 3,796,436. The firm has a market capitalization of $286.95 billion, a PE ratio of 46.20, a P/E/G ratio of 1.44 and a beta of 1.26. The firm has a 50-day moving average of $659.89 and a 200-day moving average of $634.23. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $711.33. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating the consensus estimate of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. During the same period in the prior year, the firm earned $3.29 earnings per share. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. On average, equities research analysts anticipate that Netflix, Inc. will post 19.08 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.