Netflix, Inc. $NFLX Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 6.4% in the 3rd quarter, Holdings Channel reports. The firm owned 250,285 shares of the Internet television network’s stock after selling 16,995 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Netflix were worth $17,415,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Nykredit A S acquired a new position in Netflix in the second quarter valued at $105,697,000. Rockland Trust Co. grew its holdings in Netflix by 27.5% during the 3rd quarter. Rockland Trust Co. now owns 219,221 shares of the Internet television network’s stock worth $15,253,000 after acquiring an additional 47,339 shares during the period. Boomfish Wealth Group LLC grew its holdings in Netflix by 91.5% during the 3rd quarter. Boomfish Wealth Group LLC now owns 34,547 shares of the Internet television network’s stock worth $2,404,000 after acquiring an additional 16,510 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Netflix during the 2nd quarter worth about $37,743,000. Finally, Sarasin & Partners LLP raised its position in shares of Netflix by 10.5% in the 2nd quarter. Sarasin & Partners LLP now owns 2,736,198 shares of the Internet television network’s stock worth $195,365,000 after acquiring an additional 259,794 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on NFLX shares. Argus set a $95.00 price objective on Netflix and gave the company a “buy” rating in a research note on Thursday, October 22nd. Stephens initiated coverage on Netflix in a research report on Friday, July 17th. They set an “overweight” rating on the stock. Robert W. Baird set a $90.00 target price on Netflix and gave the stock an “outperform” rating in a research note on Wednesday, July 22nd. HSBC downgraded Netflix from a “buy” rating to a “hold” rating and lowered their target price for the stock from $96.00 to $76.00 in a report on Tuesday, September 22nd. Finally, CLSA assumed coverage on Netflix in a report on Monday, July 20th. They issued an “outperform” rating for the company. Two analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, seventeen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $89.14.

Insider Buying and Selling

In related news, CFO Spencer Neumann sold 9,253 shares of the business’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $66.15, for a total value of $612,085.95. Following the completion of the sale, the chief financial officer directly owned 73,787 shares of the company’s stock, valued at $4,881,010.05. The trade was a 11.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Theodore Sarandos sold 27,312 shares of the business’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $66.20, for a total value of $1,808,054.40. Following the completion of the sale, the chief executive officer directly owned 178,954 shares of the company’s stock, valued at $11,846,754.80. The trade was a 13.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 89,024 shares of company stock worth $5,788,733 over the last 90 days. 1.24% of the stock is owned by company insiders.

Netflix News Summary

Investors following NFLX have been watching these news items:

• Positive Sentiment: Netflix’s latest reported quarter showed EPS of $0.87, above the $0.82 consensus, while revenue grew 11.9% year over year. That growth and earnings performance offer some support amid the stock’s selloff.
• Positive Sentiment: A steep valuation reset has brought NFLX below 18 times earnings, which some investors may view as an attractive entry point if growth stabilizes. Article: Netflix trades under 18x earnings after a steep valuation reset
• Neutral Sentiment: Netflix expects about $12 billion in free cash flow this year and has spent more than $10.7 billion on share repurchases through September. The company has not announced a dividend, so returns to shareholders are currently centered on buybacks. Article: Will Netflix Ever Pay a Dividend?

Netflix Trading Up 2.0%

NASDAQ:NFLX opened at $64.54 on Thursday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $265.02 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 0.93 and a beta of 1.62. The firm has a fifty day simple moving average of $70.00 and a two-hundred day simple moving average of $80.65. Netflix, Inc. has a 12 month low of $61.39 and a 12 month high of $116.73.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, October 20th. The Internet television network reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.05. Netflix had a net margin of 29.69% and a return on equity of 42.69%. The firm had revenue of $12.87 billion during the quarter, compared to the consensus estimate of $12.87 billion. During the same period in the previous year, the firm posted $0.59 earnings per share. The business’s revenue was up 11.9% compared to the same quarter last year. Analysts expect that Netflix, Inc. will post 3.59 EPS for the current fiscal year.

Netflix Company Profile

Netflix, Inc. is an entertainment company that offers subscription-based streaming of television series, films, documentaries and other programming. Its service also includes mobile games and, in some markets, advertising-supported viewing plans. Netflix produces and licenses content, including titles made under its Netflix brand. Founded in 1997 by Reed Hastings and Marc Randolph as a DVD-by-mail rental business, the company launched its streaming service in 2007 and later expanded into original programming.