New Mexico Educational Retirement Board Trims Holdings in Netflix, Inc. (NASDAQ:NFLX)

New Mexico Educational Retirement Board reduced its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,021 shares of the Internet television network's stock after selling 400 shares during the quarter. Netflix accounts for about 0.7% of New Mexico Educational Retirement Board's holdings, making the stock its 19th biggest holding. New Mexico Educational Retirement Board's holdings in Netflix were worth $18,670,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NFLX. GAMMA Investing LLC raised its position in Netflix by 109,524.3% in the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock valued at $8,239,576,000 after purchasing an additional 8,827,662 shares during the last quarter. Norges Bank bought a new position in Netflix in the fourth quarter valued at about $5,019,087,000. Arrowstreet Capital Limited Partnership raised its position in Netflix by 59.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network's stock valued at $2,051,016,000 after purchasing an additional 856,307 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of 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 acquiring an additional 743,724 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of 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 acquiring an additional 570,674 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Benchmark restated a "hold" rating on shares of Netflix in a research report on Monday, April 21st. Barclays reaffirmed a "sell" rating and set a $1,100.00 price objective (up previously from $1,000.00) on shares of Netflix in a research report on Wednesday. Seaport Res Ptn lowered shares of Netflix from a "strong-buy" rating to a "hold" rating in a research note on Sunday. Needham & Company LLC reaffirmed a "buy" rating and issued a $1,126.00 price target on shares of Netflix in a research note on Thursday, April 17th. Finally, Robert W. Baird upped their price objective on shares of Netflix from $1,200.00 to $1,300.00 and gave the company an "outperform" rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Netflix presently has an average rating of "Moderate Buy" and a consensus target price of $1,185.61.

Insider Transactions at Netflix

In other news, Director Reed Hastings sold 26,977 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $1,133.05, for a total transaction of $30,566,289.85. Following the transaction, the director directly owned 394 shares in the company, valued at approximately $446,421.70. This represents a 98.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $1,132.38, for a total value of $2,945,320.38. Following the transaction, the chief financial officer owned 3,691 shares in the company, valued at $4,179,614.58. This trade represents 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 valued at $223,307,201 over the last 90 days. Company insiders own 1.37% of the company's stock.

Netflix Stock Performance

Shares of NASDAQ NFLX traded up $12.97 during trading on Wednesday, reaching $1,288.28. 2,380,931 shares of the stock traded hands, compared to its average volume of 3,760,058. 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 1.20 and a quick ratio of 1.20. The company has a 50-day moving average of $1,214.45 and a 200-day moving average of $1,042.85. The stock has a market capitalization of $548.25 billion, a P/E ratio of 60.88, a price-to-earnings-growth ratio of 2.34 and a beta of 1.59.

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