State Treasurer State of Michigan lifted its position in Netflix, Inc. (NASDAQ:NFLX) by 0.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 125,834 shares of the Internet television network’s stock after purchasing an additional 1,000 shares during the period. State Treasurer State of Michigan’s holdings in Netflix were worth $44,867,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of NFLX. Oregon Public Employees Retirement Fund grew its holdings in shares of Netflix by 17,848.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,931,481 shares of the Internet television network’s stock worth $89,000 after purchasing an additional 23,798,143 shares during the last quarter. Norges Bank purchased a new stake in Netflix in the fourth quarter worth $1,209,406,000. Harris Associates L P lifted its stake in Netflix by 90.8% in the fourth quarter. Harris Associates L P now owns 3,109,548 shares of the Internet television network’s stock worth $832,301,000 after acquiring an additional 1,479,651 shares during the period. Jennison Associates LLC lifted its stake in Netflix by 9.0% in the fourth quarter. Jennison Associates LLC now owns 9,598,888 shares of the Internet television network’s stock worth $2,569,238,000 after acquiring an additional 792,338 shares during the period. Finally, Two Sigma Advisers LP lifted its stake in Netflix by 186.3% in the fourth quarter. Two Sigma Advisers LP now owns 763,935 shares of the Internet television network’s stock worth $204,475,000 after acquiring an additional 497,137 shares during the period. Hedge funds and other institutional investors own 76.08% of the company’s stock.
A number of brokerages recently commented on NFLX. SunTrust Banks reaffirmed a “buy” rating and issued a $402.00 price target on shares of Netflix in a research note on Wednesday, March 27th. UBS Group began coverage on Netflix in a research note on Tuesday, April 2nd. They issued a “neutral” rating and a $350.00 price target for the company. Buckingham Research dropped their price target on Netflix from $382.00 to $358.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Rosenblatt Securities reaffirmed a “hold” rating on shares of Netflix in a research note on Wednesday, April 17th. Finally, Wedbush raised their price target on Netflix from $165.00 to $183.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 17th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Netflix presently has a consensus rating of “Buy” and a consensus target price of $385.03.
In related news, CEO Reed Hastings sold 56,966 shares of Netflix stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $370.74, for a total value of $21,119,574.84. Following the completion of the sale, the chief executive officer now directly owns 56,966 shares in the company, valued at approximately $21,119,574.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Anne M. Sweeney sold 342 shares of Netflix stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $360.00, for a total value of $123,120.00. Following the completion of the sale, the director now owns 342 shares of the company’s stock, valued at $123,120. The disclosure for this sale can be found here. Insiders sold a total of 165,833 shares of company stock valued at $60,817,341 over the last quarter. 4.29% of the stock is owned by corporate insiders.
NASDAQ NFLX opened at $345.61 on Wednesday. Netflix, Inc. has a one year low of $231.23 and a one year high of $423.21. The stock has a market capitalization of $150.95 billion, a P/E ratio of 128.96, a price-to-earnings-growth ratio of 3.44 and a beta of 1.33. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.81.
Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, April 16th. The Internet television network reported $0.76 EPS for the quarter, topping the consensus estimate of $0.57 by $0.19. Netflix had a return on equity of 24.75% and a net margin of 7.61%. The company had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.50 billion. During the same period last year, the company earned $0.64 EPS. Netflix’s revenue for the quarter was up 22.2% on a year-over-year basis. On average, sell-side analysts expect that Netflix, Inc. will post 3.35 EPS for the current year.
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Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.
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