Teacher Retirement System of Texas Sells 43,888 Shares of Netflix, Inc. (NASDAQ:NFLX)

Teacher Retirement System of Texas lowered its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 21.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 165,534 shares of the Internet television network's stock after selling 43,888 shares during the quarter. Netflix makes up approximately 0.6% of Teacher Retirement System of Texas' investment portfolio, making the stock its 20th largest position. Teacher Retirement System of Texas' holdings in Netflix were worth $154,365,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Halbert Hargrove Global Advisors LLC increased its holdings in Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after buying an additional 13 shares during the period. Brown Shipley& Co Ltd bought a new position in shares of Netflix during the fourth quarter valued at $27,000. Transce3nd LLC acquired a new position in Netflix during the 4th quarter worth about $32,000. Copia Wealth Management acquired a new stake in Netflix during the 4th quarter valued at approximately $37,000. Finally, Stuart Chaussee & Associates Inc. raised its stake in Netflix by 4,500.0% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock worth $41,000 after buying an additional 45 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Insider Activity

In other Netflix news, Director Jay C. Hoag sold 32,515 shares of the company's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the sale, the director directly owned 79,040 shares of the company's stock, valued at approximately $87,099,708.80. This represents a 29.15% decrease in their ownership of the stock. The sale was disclosed in a filing 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 on 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 completion of the transaction, the chief financial officer owned 3,691 shares in the company, valued at $4,179,614.58. The trade was a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 186,723 shares of company stock worth $223,307,201. 1.37% of the stock is owned by company insiders.

Netflix Stock Performance

NFLX stock traded up $10.38 during trading on Thursday, reaching $1,295.24. 2,006,224 shares of the company's stock were exchanged, compared to its average volume of 3,761,661. The company's fifty day moving average price is $1,200.03 and its 200-day moving average price is $1,031.42. The firm has a market cap of $551.21 billion, a PE ratio of 61.21, a P/E/G ratio of 2.48 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. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.74 by $0.87. The business had revenue of $10.54 billion for the quarter, compared to analysts' expectations 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 firm posted $8.28 EPS. On average, research analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Pivotal Research lifted their price target on shares of Netflix from $1,350.00 to $1,600.00 and gave the company a "buy" rating in a research note on Friday, June 20th. Rosenblatt Securities lifted their price target on Netflix from $1,494.00 to $1,514.00 and gave the stock a "buy" rating in a report on Monday, April 21st. Evercore ISI reissued an "outperform" rating on shares of Netflix in a research report on Thursday, May 15th. The Goldman Sachs Group boosted their price objective on Netflix from $1,000.00 to $1,140.00 and gave the company a "neutral" rating in a research note on Wednesday. Finally, Benchmark restated a "hold" rating on shares of Netflix in a research report on Monday, April 21st. Eleven investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $1,182.58.

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.