Kentucky Retirement Systems Has $470,000 Holdings in Netflix, Inc. $NFLX

Kentucky Retirement Systems cut its holdings in Netflix, Inc. (NASDAQ:NFLX) by 98.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,892 shares of the Internet television network’s stock after selling 261,198 shares during the period. Kentucky Retirement Systems’ holdings in Netflix were worth $470,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Checchi Capital Advisers LLC grew its holdings in shares of Netflix by 875.7% during the 4th quarter. Checchi Capital Advisers LLC now owns 31,143 shares of the Internet television network’s stock worth $2,920,000 after purchasing an additional 27,951 shares in the last quarter. BNC Wealth Management LLC raised its stake in shares of Netflix by 991.3% in the fourth quarter. BNC Wealth Management LLC now owns 41,229 shares of the Internet television network’s stock valued at $3,866,000 after purchasing an additional 37,451 shares in the last quarter. Crew Capital Management Ltd raised its stake in shares of Netflix by 1,021.9% in the fourth quarter. Crew Capital Management Ltd now owns 9,031 shares of the Internet television network’s stock valued at $847,000 after purchasing an additional 8,226 shares in the last quarter. Family Capital Trust Co lifted its position in Netflix by 20,869.5% in the fourth quarter. Family Capital Trust Co now owns 27,470 shares of the Internet television network’s stock worth $2,576,000 after purchasing an additional 27,339 shares during the period. Finally, Vanguard Group Inc. lifted its position in Netflix by 912.5% in the fourth quarter. Vanguard Group Inc. now owns 390,014,981 shares of the Internet television network’s stock worth $36,567,805,000 after purchasing an additional 351,493,659 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Down 2.0%

Shares of NASDAQ NFLX opened at $71.71 on Friday. The stock has a market cap of $298.60 billion, a PE ratio of 22.57, a PEG ratio of 0.92 and a beta of 1.52. The business has a fifty day moving average of $76.66 and a two-hundred day moving average of $85.41. Netflix, Inc. has a 52-week low of $65.08 and a 52-week high of $126.71. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.14 and a current ratio of 1.14.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, July 16th. The Internet television network reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.01. Netflix had a net margin of 28.22% and a return on equity of 40.02%. The business had revenue of $12.56 billion for the quarter, compared to analyst estimates of $12.58 billion. During the same quarter in the prior year, the firm earned $0.72 EPS. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. As a group, equities research analysts expect that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.

Insider Activity at Netflix

In other Netflix news, CEO Gregory K. Peters sold 27,312 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $88.69, for a total value of $2,422,301.28. Following the completion of the sale, the chief executive officer owned 120,931 shares of the company’s stock, valued at approximately $10,725,370.39. This represents a 18.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Spencer Adam Neumann sold 9,253 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $88.95, for a total value of $823,054.35. Following the sale, the chief financial officer directly owned 73,787 shares of the company’s stock, valued at approximately $6,563,353.65. The trade was a 11.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 492,289 shares of company stock worth $42,186,530. 1.24% of the stock is owned by company insiders.

Key Headlines Impacting Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix agreed to a five-year, approximately $500 million licensing deal covering all 371 episodes of The Walking Dead universe in international markets. The agreement strengthens Netflix’s global content lineup and adds a recognizable franchise beginning in 2027. Los Angeles Times article
• Positive Sentiment: Walmart-owned Flipkart is offering qualifying loyalty members a monthly Netflix mobile subscription after four orders in a month. The partnership could support customer acquisition and engagement in India, although the direct financial impact appears limited. Reuters article

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Daiwa Securities Group boosted their price target on shares of Netflix from $97.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Oppenheimer set a $85.00 price objective on shares of Netflix and gave the company an “outperform” rating in a research note on Friday, July 17th. BMO Capital Markets downgraded shares of Netflix from an “outperform” rating to a “market perform” rating in a report on Monday, July 20th. Barclays decreased their target price on shares of Netflix from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Friday, July 17th. Finally, Piper Sandler reissued an “overweight” rating and issued a $85.00 target price (down from $115.00) on shares of Netflix in a research note on Friday, July 17th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $103.48.

Netflix Profile

Netflix, Inc (NASDAQ: NFLX) is a global entertainment company that provides subscription-based streaming of films, television series, documentaries and other video content. Founded in 1997 by Reed Hastings and Marc Randolph and headquartered in Los Gatos, California, the company began as a DVD-by-mail rental service and introduced streaming video in 2007. Netflix later expanded into producing and distributing original programming, beginning notable original hits in the 2010s, and now operates a content production and distribution ecosystem alongside its licensing activity.

The company’s primary product is its on-demand streaming service, which can be accessed on a wide range of internet-connected devices and delivered through a suite of apps and web platforms.