Netflix, Inc. (NASDAQ:NFLX) Position Increased by State of Michigan Retirement System

State of Michigan Retirement System increased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 6.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 171,249 shares of the Internet television network's stock after purchasing an additional 10,000 shares during the quarter. Netflix makes up approximately 0.9% of State of Michigan Retirement System's portfolio, making the stock its 18th biggest position. State of Michigan Retirement System's holdings in Netflix were worth $159,695,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in 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 worth $25,000 after purchasing an additional 13 shares during the last quarter. Brown Shipley& Co Ltd purchased a new stake in Netflix during the fourth quarter worth approximately $27,000. Transce3nd LLC acquired a new position in Netflix during the fourth quarter worth approximately $32,000. Copia Wealth Management acquired a new position in Netflix during the fourth quarter worth approximately $37,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in Netflix during the first quarter worth approximately $42,000. Hedge funds and other institutional investors own 80.93% of the company's stock.

Insiders Place Their Bets

In other news, Director Reed Hastings sold 26,977 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $1,133.05, for a total value of $30,566,289.85. Following the completion of the transaction, the director owned 394 shares of the company's stock, valued at approximately $446,421.70. This represents a 98.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jay C. Hoag sold 32,515 shares of the stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the completion of the transaction, the director directly owned 79,040 shares of the company's stock, valued at approximately $87,099,708.80. The trade was a 29.15% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 186,723 shares of company stock worth $223,307,201. Insiders own 1.37% of the company's stock.

Netflix Stock Performance

Shares of NFLX traded down $5.48 during mid-day trading on Friday, hitting $1,245.11. The stock had a trading volume of 3,948,915 shares, compared to its average volume of 3,766,443. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,341.15. The company has a market cap of $529.88 billion, a PE ratio of 58.84, a PEG ratio of 2.27 and a beta of 1.59. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. The company's fifty day simple moving average is $1,221.70 and its two-hundred day simple moving average is $1,049.04.

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. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The business had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. During the same quarter in the previous year, the firm posted $8.28 EPS. On average, equities analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NFLX has been the topic of several research analyst reports. 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 research report on Friday, April 18th. Guggenheim reissued a "buy" rating and issued a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Loop Capital reissued a "hold" rating on shares of Netflix in a report on Monday, March 24th. Seaport Res Ptn lowered Netflix from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 6th. Finally, Oppenheimer boosted their target price on Netflix from $1,200.00 to $1,425.00 and gave the company an "outperform" rating in a report on Thursday, June 12th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $1,214.52.

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.