Retirement Systems of Alabama Sells 6,407 Shares of Netflix, Inc. (NASDAQ:NFLX)

Retirement Systems of Alabama trimmed its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 3.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 197,997 shares of the Internet television network's stock after selling 6,407 shares during the quarter. Netflix accounts for about 0.7% of Retirement Systems of Alabama's portfolio, making the stock its 19th biggest holding. Retirement Systems of Alabama's holdings in Netflix were worth $184,638,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Halbert Hargrove Global Advisors LLC lifted 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 valued at $25,000 after purchasing an additional 13 shares during the last quarter. Brown Shipley& Co Ltd acquired a new stake in shares of Netflix during the 4th quarter valued at $27,000. Transce3nd LLC acquired a new stake in shares of Netflix during the 4th quarter valued at $32,000. Copia Wealth Management purchased a new stake in shares of Netflix during the fourth quarter valued at $37,000. Finally, Stuart Chaussee & Associates Inc. lifted its holdings in shares of Netflix by 4,500.0% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock valued at $41,000 after purchasing an additional 45 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Up 0.8%

Shares of Netflix stock traded up $9.20 during midday trading on Friday, reaching $1,231.49. 5,315,825 shares of the company's stock traded hands, compared to its average volume of 3,756,142. The company has a market cap of $524.09 billion, a price-to-earnings ratio of 58.20, a price-to-earnings-growth ratio of 2.36 and a beta of 1.59. The company's 50 day simple moving average is $1,150.80 and its 200 day simple moving average is $1,010.84. 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 52 week low of $587.04 and a 52 week high of $1,262.81.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NFLX shares. Cfra Research raised Netflix to a "strong-buy" rating in a report on Monday, April 28th. Wedbush reaffirmed an "outperform" rating and set a $1,200.00 price objective on shares of Netflix in a research note on Monday, May 5th. Barclays upped their price objective on shares of Netflix from $900.00 to $1,000.00 and gave the company an "equal weight" rating in a research note on Monday, April 21st. Robert W. Baird upped their price target on shares of Netflix from $1,200.00 to $1,300.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Finally, Loop Capital restated a "hold" rating on shares of Netflix in a research report on Monday, March 24th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,172.73.

Insider Buying and Selling at Netflix

In other news, Director Jay C. Hoag sold 31,750 shares of Netflix stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the transaction, the director now owns 63,040 shares of the company's stock, valued at $78,948,144. This trade represents a 33.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Jeffrey William Karbowski sold 480 shares of Netflix stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total transaction of $469,526.40. The disclosure for this sale can be found here. Insiders have sold a total of 185,140 shares of company stock worth $210,271,552 over the last three months. Corporate insiders own 1.37% of the company's stock.

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.