Netflix, Inc. (NASDAQ:NFLX) Holdings Reduced by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky decreased its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 3.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 109,813 shares of the Internet television network's stock after selling 4,426 shares during the period. Netflix accounts for 0.9% of Teachers Retirement System of The State of Kentucky's investment portfolio, making the stock its 10th largest position. Teachers Retirement System of The State of Kentucky's holdings in Netflix were worth $102,404,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in Netflix by 109,524.3% during the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after buying an additional 8,827,662 shares in the last quarter. Norges Bank purchased a new position in Netflix during the fourth quarter worth about $5,019,087,000. Arrowstreet Capital Limited Partnership grew its position in Netflix by 59.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network's stock worth $2,051,016,000 after buying an additional 856,307 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Netflix by 318.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network's stock worth $870,752,000 after buying an additional 743,724 shares in the last quarter. Finally, Northern Trust Corp grew its position in Netflix by 14.3% during the fourth quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock worth $4,076,903,000 after buying an additional 570,674 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Moffett Nathanson restated a "buy" rating and set a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Wolfe Research set a $1,340.00 price target on Netflix and gave the stock an "outperform" rating in a research note on Friday, May 16th. Wedbush reaffirmed an "outperform" rating and set a $1,500.00 price target (up previously from $1,400.00) on shares of Netflix in a research note on Monday, July 14th. Phillip Securities raised Netflix from a "moderate sell" rating to a "hold" rating in a research note on Monday, April 21st. Finally, JPMorgan Chase & Co. lifted their price target on Netflix from $1,230.00 to $1,300.00 and gave the stock a "neutral" rating in a research note on Friday. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Netflix presently has an average rating of "Moderate Buy" and a consensus target price of $1,291.41.

Netflix Stock Down 5.1%

NFLX stock traded down $64.93 during midday trading on Friday, hitting $1,209.24. The stock had a trading volume of 10,678,762 shares, compared to its average volume of 3,762,863. The firm has a market cap of $514.62 billion, a price-to-earnings ratio of 51.52, a price-to-earnings-growth ratio of 2.15 and a beta of 1.59. The business has a 50-day moving average of $1,232.59 and a two-hundred day moving average of $1,061.94. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.20.

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

Insider Buying and Selling

In other news, Director Bradford L. Smith sold 3,919 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total value of $4,405,974.94. Following the transaction, the director directly owned 7,969 shares in the company, valued at $8,959,227.94. This trade represents a 32.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $1,132.38, for a total value of $2,945,320.38. Following the completion of the transaction, the chief financial officer directly owned 3,691 shares in the company, valued at $4,179,614.58. The trade was a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 186,723 shares of company stock worth $223,307,201 over the last three months. 1.37% of the stock is owned by corporate insiders.

About Netflix

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.