PensionDanmark Pensionsforsikringsaktieselskab Sells 77,324 Shares of Netflix, Inc. $NFLX

by · The Cerbat Gem

PensionDanmark Pensionsforsikringsaktieselskab cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX – Free Report) by 8.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 851,335 shares of the Internet television network’s stock after selling 77,324 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Netflix were worth $60,785,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of NFLX. Checchi Capital Advisers LLC lifted its stake in Netflix by 875.7% in the 4th quarter. Checchi Capital Advisers LLC now owns 31,143 shares of the Internet television network’s stock valued at $2,920,000 after buying an additional 27,951 shares in the last quarter. BNC Wealth Management LLC increased its position in Netflix by 991.3% during the fourth quarter. BNC Wealth Management LLC now owns 41,229 shares of the Internet television network’s stock worth $3,866,000 after buying an additional 37,451 shares in the last quarter. Family Capital Trust Co increased its position in Netflix by 20,869.5% during the fourth quarter. Family Capital Trust Co now owns 27,470 shares of the Internet television network’s stock worth $2,576,000 after buying an additional 27,339 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of 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 acquiring an additional 351,493,659 shares during the last quarter. Finally, BLB&B Advisors LLC raised its holdings in shares of Netflix by 617.4% in the fourth quarter. BLB&B Advisors LLC now owns 60,635 shares of the Internet television network’s stock worth $5,685,000 after acquiring an additional 52,183 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. China Renaissance increased their price objective on Netflix from $90.00 to $100.00 and gave the company a “hold” rating in a research note on Friday, April 17th. Robert W. Baird set a $90.00 target price on shares of Netflix and gave the company an “outperform” rating in a report on Wednesday, July 22nd. KeyCorp reaffirmed an “overweight” rating and set a $92.00 price target (down from $115.00) on shares of Netflix in a research note on Monday, July 13th. HSBC boosted their price objective on shares of Netflix from $106.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, April 10th. Finally, CLSA assumed coverage on shares of Netflix in a research note on Monday, July 20th. They set an “outperform” rating on the stock. Four analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus target price of $103.48.

Read Our Latest Stock Analysis on Netflix

Insider Activity

In other news, insider David A. Hyman sold 5,723 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $72.85, for a total transaction of $416,920.55. Following the completion of the sale, the insider directly owned 316,100 shares of the company’s stock, valued at $23,027,885. The trade was a 1.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Reed Hastings sold 386,700 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $85.97, for a total value of $33,244,599.00. Following the completion of the transaction, the director directly owned 3,940 shares in the company, valued at $338,721.80. This trade represents a 98.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 591,047 shares of company stock valued at $48,355,766 in the last ninety days. 1.24% of the stock is owned by company insiders.

Netflix Stock Down 0.7%

Shares of NASDAQ:NFLX opened at $73.69 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.39. The firm has a market cap of $306.84 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 0.93 and a beta of 1.52. The stock’s 50-day moving average price is $75.56 and its two-hundred day moving average price is $84.95. Netflix, Inc. has a 12-month low of $65.08 and a 12-month high of $126.71.

Netflix (NASDAQ:NFLX – Get Free Report) last posted its quarterly earnings data on Thursday, July 16th. The Internet television network reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. The company had revenue of $12.56 billion during the quarter, compared to the consensus estimate of $12.58 billion. Netflix had a net margin of 28.22% and a return on equity of 40.02%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.72 EPS. On average, research analysts forecast that Netflix, Inc. will post 3.59 EPS for the current year.

Key Netflix News

Here are the key news stories impacting Netflix this week:

  • Positive Sentiment: Netflix is reportedly considering launching always-on, linear-style streaming channels. The move could increase viewing time, improve content monetization and appeal to viewers seeking a traditional television experience. Netflix Killed Cable TV. Now the Streaming Giant Wants to Bring It Back
  • Positive Sentiment: An extended Grand Theft Auto VI gameplay trailer is scheduled to debut on Netflix on August 27. The partnership could generate attention and engagement, although it is unlikely to materially change Netflix’s near-term financial outlook. Take-Two Stock Slips Despite News of a GTA VI Trailer Coming to Netflix
  • Neutral Sentiment: Director Richard Barton’s sale of 2,160 shares was executed under a pre-arranged Rule 10b5-1 plan, making it a relatively limited signal about management’s current view of NFLX. The director retained 246 shares afterward. Netflix’s Latest Insider Sale Looks Bigger Than It Is
  • Neutral Sentiment: Insider David Hyman previously sold shares to cover tax withholding tied to vested equity awards, another transaction with limited fundamental significance. Netflix’s latest quarter showed earnings slightly above expectations and 13.4% year-over-year revenue growth, but sales narrowly missed consensus.
  • Negative Sentiment: CEO Gregory Peters sold 27,312 shares worth approximately $2.0 million. Although the filing did not identify a 10b5-1 plan, he continues to own more than 120,000 shares; nevertheless, the sale adds to investor concern after multiple insider transactions. Netflix Insider Plans Stock Sale as NFLX Shares Slip
  • Negative Sentiment: Netflix has reportedly underperformed the S&P 500 by a wide margin over the past year. Concerns about weaker engagement, reduced viewing-data disclosure and intensifying streaming competition are weighing on sentiment and valuation. Netflix and MercadoLibre Are Underperforming the S&P 500

About Netflix

(Free Report)

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.

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