79,813 Shares in Netflix, Inc. $NFLX Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems ET Al acquired 79,813 shares of Netflix, valued at approximately $106.88 million, making it 0.7% of their total holdings.
• Insider transactions revealed CEO Gregory K. Peters sold 2,026 shares, decreasing his ownership by 13.68%, while the company saw significant insider selling totaling 104,100 shares in the last quarter.
• Netflix's stock has a market capitalization of $509.64 billion, with analysts predicting an earnings per share of 24.58 for the current fiscal year and a moderate buy rating on average.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 79,813 shares of the Internet television network's stock, valued at approximately $106,880,000. Netflix accounts for 0.7% of VIRGINIA RETIREMENT SYSTEMS ET Al's holdings, making the stock its 22nd largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Stephens Consulting LLC increased its stake in Netflix by 150.0% in the second quarter. Stephens Consulting LLC now owns 25 shares of the Internet television network's stock worth $33,000 after purchasing an additional 15 shares during the period. Flaharty Asset Management LLC bought a new position in shares of Netflix in the first quarter worth about $37,000. Maseco LLP purchased a new position in Netflix in the 2nd quarter worth about $39,000. Barnes Dennig Private Wealth Management LLC purchased a new position in Netflix in the 1st quarter worth about $42,000. Finally, 1248 Management LLC bought a new stake in Netflix during the 1st quarter valued at about $43,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Netflix

In related news, CEO Gregory K. Peters sold 2,026 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,157.44, for a total transaction of $2,344,973.44. Following the completion of the sale, the chief executive officer owned 12,781 shares of the company's stock, valued at $14,793,240.64. This represents a 13.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Cletus R. Willems sold 238 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $1,153.52, for a total transaction of $274,537.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,100 shares of company stock valued at $122,710,980. 1.37% of the stock is currently owned by corporate insiders.

Netflix Trading Up 1.3%

Shares of NASDAQ:NFLX opened at $1,199.36 on Friday. The company has a market capitalization of $509.64 billion, a PE ratio of 51.10, a P/E/G ratio of 2.02 and a beta of 1.59. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 12-month low of $736.23 and a 12-month high of $1,341.15. The business's fifty day simple moving average is $1,213.47 and its 200-day simple moving average is $1,177.58.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The company had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter last year, the company earned $4.88 earnings per share. The firm's revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, equities research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NFLX shares. Seaport Res Ptn raised shares of Netflix from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 6th. Jefferies Financial Group restated a "buy" rating on shares of Netflix in a report on Tuesday, October 14th. Wall Street Zen lowered Netflix from a "buy" rating to a "hold" rating in a research report on Saturday, October 4th. Rosenblatt Securities increased their price target on Netflix from $1,514.00 to $1,515.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Finally, Canaccord Genuity Group restated a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $1,339.81.

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.

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