New York State Common Retirement Fund Decreases Position in Netflix, Inc. (NASDAQ:NFLX)

New York State Common Retirement Fund lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 11.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 677,083 shares of the Internet television network’s stock after selling 85,035 shares during the period. New York State Common Retirement Fund owned 0.16% of Netflix worth $329,658,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Summit Global Investments lifted its holdings in Netflix by 29.0% during the 3rd quarter. Summit Global Investments now owns 2,064 shares of the Internet television network’s stock worth $779,000 after purchasing an additional 464 shares in the last quarter. Legacy Capital Wealth Partners LLC purchased a new stake in Netflix during the 3rd quarter worth about $337,000. First Affirmative Financial Network lifted its holdings in Netflix by 24.4% during the 3rd quarter. First Affirmative Financial Network now owns 628 shares of the Internet television network’s stock worth $237,000 after purchasing an additional 123 shares in the last quarter. Douglas Lane & Associates LLC lifted its holdings in Netflix by 12.5% during the 3rd quarter. Douglas Lane & Associates LLC now owns 559 shares of the Internet television network’s stock worth $211,000 after purchasing an additional 62 shares in the last quarter. Finally, Capital Investment Advisors LLC lifted its holdings in Netflix by 5.2% during the 3rd quarter. Capital Investment Advisors LLC now owns 1,284 shares of the Internet television network’s stock worth $485,000 after purchasing an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

NFLX has been the topic of a number of recent research reports. Sanford C. Bernstein increased their price objective on Netflix from $490.00 to $600.00 and gave the stock a “market perform” rating in a report on Friday. Seaport Res Ptn lowered Netflix from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 30th. TD Cowen upped their target price on Netflix from $600.00 to $725.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Loop Capital increased their price objective on Netflix from $585.00 to $700.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Finally, Piper Sandler increased their price objective on Netflix from $550.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, Netflix has a consensus rating of “Moderate Buy” and a consensus target price of $630.58.

Insider Buying and Selling

In other news, insider David A. Hyman sold 267 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total value of $148,454.67. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at $17,575,476.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Netflix news, insider David A. Hyman sold 267 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total transaction of $148,454.67. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $17,575,476.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jay C. Hoag sold 47,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $550.50, for a total value of $25,873,500.00. Following the sale, the director now directly owns 431,034 shares in the company, valued at $237,284,217. The disclosure for this sale can be found here. Insiders sold 268,335 shares of company stock valued at $151,619,811 over the last 90 days. Company insiders own 2.45% of the company’s stock.

Netflix Stock Down 0.1 %

Shares of NFLX traded down $0.44 on Monday, reaching $554.60. The stock had a trading volume of 8,594,493 shares, compared to its average volume of 4,511,112. The firm has a market capitalization of $238.98 billion, a price-to-earnings ratio of 38.49, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.12 and a current ratio of 1.07. The company has a 50-day simple moving average of $605.58 and a 200-day simple moving average of $516.27. Netflix, Inc. has a 12-month low of $315.62 and a 12-month high of $639.00.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The company had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. During the same quarter last year, the business posted $2.88 EPS. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. Sell-side analysts predict that Netflix, Inc. will post 17.13 EPS for the current year.

Netflix Company Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.