Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Meiji Yasuda Asset Management Co Ltd.

Posted by on Mar 15th, 2023

Meiji Yasuda Asset Management Co Ltd. trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX – Get Rating) by 10.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,911 shares of the Internet television network’s stock after selling 670 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Netflix were worth $1,392,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Carolinas Wealth Consulting LLC raised its stake in Netflix by 27.6% in the 3rd quarter. Carolinas Wealth Consulting LLC now owns 162 shares of the Internet television network’s stock valued at $38,000 after purchasing an additional 35 shares during the last quarter. Paragon Wealth Strategies LLC acquired a new position in Netflix in the 3rd quarter valued at $47,000. Gordian Capital Singapore Pte Ltd raised its stake in Netflix by 20,000.0% in the 2nd quarter. Gordian Capital Singapore Pte Ltd now owns 201 shares of the Internet television network’s stock valued at $35,000 after purchasing an additional 200 shares during the last quarter. Stonebridge Capital Advisors LLC raised its stake in Netflix by 163.6% in the 3rd quarter. Stonebridge Capital Advisors LLC now owns 203 shares of the Internet television network’s stock valued at $48,000 after purchasing an additional 126 shares during the last quarter. Finally, Old North State Trust LLC acquired a new position in Netflix in the 3rd quarter valued at $51,000. 77.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Jay C. Hoag sold 3,698 shares of the company’s stock in a transaction dated Tuesday, January 31st. The stock was sold at an average price of $352.94, for a total value of $1,305,172.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.39% of the stock is currently owned by insiders.

Netflix Stock Performance

NASDAQ NFLX opened at $294.94 on Wednesday. Netflix, Inc. has a fifty-two week low of $162.71 and a fifty-two week high of $396.50. The stock has a market cap of $131.35 billion, a price-to-earnings ratio of 29.64, a price-to-earnings-growth ratio of 1.36 and a beta of 1.26. The business has a fifty day moving average of $335.31 and a 200-day moving average of $291.43. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.69.

Netflix (NASDAQ:NFLX – Get Rating) last released its earnings results on Thursday, January 19th. The Internet television network reported $0.12 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.35). The business had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.85 billion. Netflix had a net margin of 14.21% and a return on equity of 23.06%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 earnings per share. As a group, analysts predict that Netflix, Inc. will post 11.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on NFLX. Jefferies Financial Group increased their price objective on Netflix from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Monday, February 6th. Cowen set a $405.00 target price on Netflix in a research note on Friday, December 9th. Credit Suisse Group raised their target price on Netflix from $271.00 to $291.00 and gave the stock a “neutral” rating in a research note on Friday, January 20th. Deutsche Bank Aktiengesellschaft raised their target price on Netflix from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, January 20th. Finally, Cowen raised their target price on Netflix from $405.00 to $440.00 in a research note on Friday, January 20th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Netflix currently has a consensus rating of “Hold” and an average price target of $343.00.

Netflix Profile

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Netflix, Inc engages in providing entertainment services. It also offers a broad set of activities for leisure time, entertainment video, video gaming, and other sources of entertainment. It operates through the United States and International geographic segments. The company was founded by Marc Randolph and Wilmot Reed Hastings on August 29, 1997 and is headquartered in Los Gatos, CA.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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