Illinois Municipal Retirement Fund Increases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Illinois Municipal Retirement Fund grew its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 6.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 18,642 shares of the Internet television network's stock after purchasing an additional 1,082 shares during the period. Illinois Municipal Retirement Fund's holdings in Netflix were worth $17,384,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Halbert Hargrove Global Advisors LLC raised its stake in Netflix by 100.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after acquiring an additional 13 shares in the last quarter. Brown Shipley& Co Ltd acquired a new stake in shares of Netflix in the 4th quarter valued at approximately $27,000. Transce3nd LLC bought a new stake in shares of Netflix during the 4th quarter valued at approximately $32,000. Copia Wealth Management acquired a new position in Netflix during the 4th quarter worth approximately $37,000. Finally, Stuart Chaussee & Associates Inc. increased its position in Netflix by 4,500.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock worth $41,000 after purchasing an additional 45 shares in the last quarter. Institutional investors own 80.93% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on NFLX shares. Bank of America boosted their target price on shares of Netflix from $1,175.00 to $1,490.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Rosenblatt Securities raised their price objective on Netflix from $1,494.00 to $1,514.00 and gave the company a "buy" rating in a report on Monday, April 21st. Robert W. Baird upped their target price on Netflix from $1,200.00 to $1,300.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Needham & Company LLC reiterated a "buy" rating and issued a $1,126.00 target price on shares of Netflix in a research report on Thursday, April 17th. Finally, Citigroup reissued a "neutral" rating and set a $1,250.00 price target (up from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Eleven analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,172.73.

Netflix Stock Up 1.3%

Shares of NASDAQ NFLX traded up $16.45 during trading on Friday, hitting $1,323.12. 4,066,251 shares of the company traded hands, compared to its average volume of 3,740,596. The firm has a market capitalization of $563.08 billion, a price-to-earnings ratio of 62.53, a P/E/G ratio of 2.47 and a beta of 1.59. The business's fifty day moving average is $1,176.24 and its 200 day moving average is $1,020.75. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,330.72.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating analysts' consensus estimates of $5.74 by $0.87. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The business had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. During the same period in the previous year, the company posted $8.28 EPS. Equities research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In other Netflix news, Chairman Reed Hastings sold 25,360 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the transaction, the chairman now owns 394 shares in the company, valued at approximately $362,933.10. This represents a 98.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jay C. Hoag sold 32,515 shares of Netflix stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the transaction, the director now owns 79,040 shares of the company's stock, valued at $87,099,708.80. This represents a 29.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 185,280 shares of company stock valued at $210,599,866 over the last ninety days. 1.37% of the stock is owned by company 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.