Netflix, Inc. $NFLX Position Boosted by New York State Teachers Retirement System

Key Points

• The New York State Teachers Retirement System increased its holdings in Netflix by 0.2%, now owning 363,202 shares, making Netflix its 14th largest stock holding.
• Netflix reported earnings of $7.19 per share, exceeding analyst expectations, with a revenue of $11.08 billion for the recent quarter, up 15.9% year-over-year.
• Insider sales included CEO Theodore A. Sarandos offloading 2,026 shares, reducing his ownership by 11.78%, amid significant institutional investor interest in the company's stock.

New York State Teachers Retirement System increased its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 0.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 363,202 shares of the Internet television network's stock after buying an additional 742 shares during the quarter. Netflix comprises 1.0% of New York State Teachers Retirement System's portfolio, making the stock its 14th largest holding. New York State Teachers Retirement System owned about 0.09% of Netflix worth $486,375,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Rheos Capital Works Inc. grew its holdings in Netflix by 119.5% in the 2nd quarter. Rheos Capital Works Inc. now owns 116,800 shares of the Internet television network's stock worth $156,410,000 after buying an additional 63,600 shares in the last quarter. Duncker Streett & Co. Inc. grew its holdings in Netflix by 14.5% in the 2nd quarter. Duncker Streett & Co. Inc. now owns 1,379 shares of the Internet television network's stock worth $1,847,000 after buying an additional 175 shares in the last quarter. Rosenberg Matthew Hamilton grew its holdings in Netflix by 2.1% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 448 shares of the Internet television network's stock worth $600,000 after buying an additional 9 shares in the last quarter. Dock Street Asset Management Inc. grew its holdings in Netflix by 4.8% in the 2nd quarter. Dock Street Asset Management Inc. now owns 24,327 shares of the Internet television network's stock worth $32,577,000 after buying an additional 1,110 shares in the last quarter. Finally, IFG Advisors LLC grew its holdings in Netflix by 80.9% in the 2nd quarter. IFG Advisors LLC now owns 577 shares of the Internet television network's stock worth $773,000 after buying an additional 258 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $1,203.29 on Thursday. Netflix, Inc. has a one year low of $677.88 and a one year high of $1,341.15. The stock has a fifty day moving average of $1,213.65 and a 200-day moving average of $1,172.31. The company has a market capitalization of $511.31 billion, a PE ratio of 51.27, a price-to-earnings-growth ratio of 2.04 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34.

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

Insider Buying and Selling

In other news, CEO Theodore A. Sarandos sold 2,026 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $1,160.62, for a total value of $2,351,416.12. Following the completion of the sale, the chief executive officer owned 15,168 shares in the company, valued at $17,604,284.16. This represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Cletus R. Willems sold 238 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $1,153.52, for a total value of $274,537.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,100 shares of company stock valued at $122,710,980. 1.37% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on NFLX. Cowen reaffirmed a "buy" rating on shares of Netflix in a research note on Tuesday, October 7th. Wells Fargo & Company increased their price target on Netflix from $1,500.00 to $1,560.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Seaport Res Ptn raised Netflix from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 6th. BMO Capital Markets reaffirmed an "outperform" rating and set a $1,425.00 price target (up from $1,200.00) on shares of Netflix in a research note on Tuesday, July 15th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Netflix in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,337.63.

Netflix 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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