State of Alaska Department of Revenue Has $49.63 Million Position in Netflix, Inc. (NASDAQ:NFLX)

State of Alaska Department of Revenue increased its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 2.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,222 shares of the Internet television network's stock after purchasing an additional 1,310 shares during the period. Netflix makes up 0.6% of State of Alaska Department of Revenue's portfolio, making the stock its 25th biggest position. State of Alaska Department of Revenue's holdings in Netflix were worth $49,630,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its position in Netflix by 8.7% in the fourth quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network's stock valued at $1,227,468,000 after buying an additional 110,432 shares in the last quarter. PharVision Advisers LLC acquired a new position in Netflix in the fourth quarter valued at approximately $873,000. New England Research & Management Inc. raised its position in shares of Netflix by 148.5% during the 1st quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network's stock valued at $1,979,000 after acquiring an additional 1,268 shares during the last quarter. First National Trust Co grew its stake in shares of Netflix by 1.0% during the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network's stock worth $1,121,000 after purchasing an additional 12 shares during the period. Finally, Haven Private LLC acquired a new position in Netflix in the fourth quarter valued at about $733,000. Institutional investors own 80.93% of the company's stock.

Netflix Stock Down 0.4%

Netflix stock opened at $1,220.67 on Wednesday. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,262.81. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20. The firm's 50-day simple moving average is $1,132.97 and its 200 day simple moving average is $1,004.83. The stock has a market cap of $519.48 billion, a PE ratio of 57.69, a price-to-earnings-growth ratio of 2.37 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly 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 company had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. During the same period last year, the business posted $8.28 earnings per share. Research analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Activity at Netflix

In related news, Director Jay C. Hoag sold 31,750 shares of Netflix stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the completion of the sale, the director now owns 63,040 shares of the company's stock, valued at approximately $78,948,144. This trade represents a 33.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Jeffrey William Karbowski sold 480 shares of the stock in a transaction dated 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. Over the last 90 days, insiders sold 185,140 shares of company stock worth $210,271,552. 1.37% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. restated a "neutral" rating and set a $1,220.00 price objective (up from $1,150.00) on shares of Netflix in a report on Monday, May 19th. Wells Fargo & Company boosted their price objective on shares of Netflix from $1,210.00 to $1,222.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. Pivotal Research upped their price objective on Netflix from $1,250.00 to $1,350.00 and gave the company a "buy" rating in a research note on Monday, April 21st. Moffett Nathanson reaffirmed a "buy" rating and set a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Finally, 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 report on Monday, April 21st. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $1,156.73.

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.

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