State of Michigan Retirement System Increases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

State of Michigan Retirement System boosted its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 6.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 171,249 shares of the Internet television network's stock after buying an additional 10,000 shares during the period. Netflix makes up approximately 0.9% of State of Michigan Retirement System's holdings, making the stock its 18th largest holding. State of Michigan Retirement System's holdings in Netflix were worth $159,695,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of NFLX. Fullcircle Wealth LLC boosted its stake in shares of Netflix by 2.5% during the 1st quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock worth $344,000 after purchasing an additional 9 shares during the period. MRP Capital Investments LLC boosted its position in shares of Netflix by 1.0% during the fourth quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network's stock valued at $938,000 after buying an additional 10 shares during the period. Bedell Frazier Investment Counselling LLC grew its stake in shares of Netflix by 2.2% during the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock valued at $412,000 after buying an additional 10 shares during the last quarter. Mission Creek Capital Partners Inc. raised its holdings in shares of Netflix by 0.3% in the fourth quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock worth $3,410,000 after buying an additional 10 shares during the period. Finally, Continuum Wealth Advisors LLC raised its holdings in shares of Netflix by 4.4% in the first quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock worth $219,000 after buying an additional 10 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NFLX has been the topic of several research analyst reports. Evercore ISI reaffirmed an "outperform" rating on shares of Netflix in a research report on Thursday, May 15th. Seaport Res Ptn cut shares of Netflix from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 6th. BMO Capital Markets reiterated an "outperform" rating and set a $1,200.00 price objective (up previously from $1,175.00) on shares of Netflix in a report on Friday, April 18th. Citigroup restated a "neutral" rating and issued a $1,250.00 target price (up from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Finally, Needham & Company LLC lifted their price target on shares of Netflix from $1,126.00 to $1,500.00 and gave the company a "buy" rating in a research note on Friday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,214.52.

Netflix Stock Down 0.4%

Shares of NFLX traded down $5.48 during midday trading on Friday, hitting $1,245.11. 3,948,915 shares of the company's stock traded hands, compared to its average volume of 3,766,443. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $529.88 billion, a price-to-earnings ratio of 58.84, a price-to-earnings-growth ratio of 2.27 and a beta of 1.59. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,341.15. The firm's fifty day moving average is $1,219.93 and its 200-day moving average is $1,046.88.

Netflix (NASDAQ:NFLX - Get Free Report) last released 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 analysts' expectations of $10.51 billion. During the same period last year, the business posted $8.28 earnings per share. As a group, sell-side analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Jeffrey William Karbowski sold 620 shares of the company's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $1,286.84, for a total value of $797,840.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Strive Masiyiwa sold 290 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $1,336.54, for a total value of $387,596.60. The disclosure for this sale can be found here. Insiders sold 186,723 shares of company stock worth $223,307,201 over the last ninety days. Company insiders own 1.37% of the company's stock.

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.