VIRGINIA RETIREMENT SYSTEMS ET Al Purchases 710,967 Shares of Netflix, Inc. $NFLX

Key Points

• VIRGINIA RETIREMENT SYSTEMS ET Al sharply increased its Netflix stake, buying 710,967 additional shares and lifting its holdings by 777.8% to 802,380 shares valued at about $75.2 million.
• Netflix reported better-than-expected quarterly results, with EPS of $1.23 versus the $0.76 estimate and revenue of $12.25 billion, up 16.2% year over year. The company also said it expects Q2 2026 EPS of 0.78.
• Insider selling was notable, including large sales by director Reed Hastings and CEO Theodore A. Sarandos, with insiders selling about 1.42 million shares worth roughly $135.1 million over the past 90 days.

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 777.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 802,380 shares of the Internet television network's stock after acquiring an additional 710,967 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in Netflix were worth $75,231,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Apriem Advisors grew its holdings in Netflix by 0.6% during the 3rd quarter. Apriem Advisors now owns 1,567 shares of the Internet television network's stock valued at $1,879,000 after buying an additional 9 shares in the last quarter. Tortoise Investment Management LLC grew its holdings in Netflix by 10.8% during the 3rd quarter. Tortoise Investment Management LLC now owns 92 shares of the Internet television network's stock valued at $110,000 after buying an additional 9 shares in the last quarter. Brass Tax Wealth Management Inc. grew its holdings in Netflix by 3.2% during the 3rd quarter. Brass Tax Wealth Management Inc. now owns 288 shares of the Internet television network's stock valued at $345,000 after buying an additional 9 shares in the last quarter. Pacific Sun Financial Corp grew its holdings in Netflix by 1.6% during the 3rd quarter. Pacific Sun Financial Corp now owns 574 shares of the Internet television network's stock valued at $688,000 after buying an additional 9 shares in the last quarter. Finally, Richardson Financial Services Inc. grew its holdings in Netflix by 2.9% during the 3rd quarter. Richardson Financial Services Inc. now owns 358 shares of the Internet television network's stock valued at $429,000 after buying an additional 10 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Netflix Stock Up 2.6%

Shares of NFLX opened at $87.66 on Wednesday. The firm has a market cap of $369.12 billion, a P/E ratio of 28.31, a P/E/G ratio of 1.09 and a beta of 1.55. The stock has a 50 day simple moving average of $95.38 and a two-hundred day simple moving average of $95.37. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.41 and a quick ratio of 1.41. Netflix, Inc. has a 1 year low of $75.01 and a 1 year high of $134.12.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Thursday, April 16th. The Internet television network reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.47. The business had revenue of $12.25 billion during the quarter, compared to analyst estimates of $12.17 billion. Netflix had a return on equity of 40.92% and a net margin of 28.52%.Netflix's revenue for the quarter was up 16.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.61 earnings per share. Netflix has set its Q2 2026 guidance at 0.780-0.780 EPS. On average, analysts forecast that Netflix, Inc. will post 3.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Netflix news, Director Reed Hastings sold 407,550 shares of the company's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $93.13, for a total value of $37,955,131.50. Following the completion of the sale, the director owned 3,940 shares of the company's stock, valued at $366,932.20. This represents a 99.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Theodore A. Sarandos sold 27,312 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $87.97, for a total value of $2,402,636.64. Following the completion of the sale, the chief executive officer directly owned 284,804 shares of the company's stock, valued at approximately $25,054,207.88. This represents a 8.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 1,422,769 shares of company stock valued at $135,144,073 over the last 90 days. Company insiders own 1.37% of the company's stock.

Key Stories Impacting Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Investors are focusing on Netflix’s pricing power and ad-supported business, with commentary suggesting the company’s revenue growth and ad monetization could be re-rated higher if churn stays contained. Netflix shares rise 3.9% as investors refocus on pricing power and ad-growth outlook
• Positive Sentiment: Netflix highlighted the scale of its content investment, saying it has spent more than $135 billion on films and TV over the past decade and generated over $325 billion in global economic impact while supporting more than 425,000 jobs, reinforcing its dominance in streaming. Netflix spent over $135 billion on film, TV over last decade
• Positive Sentiment: Separate coverage noted Netflix shares were gaining despite broader market weakness, with traders pointing to technical support and continued optimism around analyst forecasts. What's Going On With Netflix Stock Tuesday?
• Neutral Sentiment: Wall Street commentary remains broadly constructive, and several recent articles framed Netflix as a trending stock amid ongoing investor interest, but these pieces did not add a clearly new fundamental catalyst. Netflix, Inc. (NFLX) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: Texas sued Netflix over alleged unauthorized data collection on children and claims the platform was designed to be addictive, creating legal and reputational overhang that could pressure sentiment if the case escalates. Netflix sued by Texas for allegedly spying on consumers
• Negative Sentiment: Additional coverage said the lawsuit is putting Netflix’s data practices and ad growth under scrutiny, which may worry investors about future monetization and regulatory risk. Texas Lawsuit Puts Netflix Data Practices And Ad Growth Under Scrutiny

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NFLX. Cfra raised Netflix from a "hold" rating to a "buy" rating and set a $115.00 target price for the company in a report on Friday, March 6th. JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of Netflix in a report on Wednesday, April 22nd. TD Cowen reduced their target price on Netflix from $115.00 to $112.00 and set a "buy" rating for the company in a report on Wednesday, January 21st. Huber Research raised Netflix from a "strong sell" rating to a "strong-buy" rating in a report on Friday, February 27th. Finally, Wolfe Research reissued an "outperform" rating and set a $107.00 price objective on shares of Netflix in a report on Friday, April 17th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $114.82.

Netflix Company Profile

Netflix, Inc NASDAQ: NFLX is a global entertainment company that provides subscription-based streaming of films, television series, documentaries and other video content. Founded in 1997 by Reed Hastings and Marc Randolph and headquartered in Los Gatos, California, the company began as a DVD-by-mail rental service and introduced streaming video in 2007. Netflix later expanded into producing and distributing original programming, beginning notable original hits in the 2010s, and now operates a content production and distribution ecosystem alongside its licensing activity.

The company's primary product is its on-demand streaming service, which can be accessed on a wide range of internet-connected devices and delivered through a suite of apps and web platforms.

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