Public Employees Retirement Association of Colorado Sells 2,438 Shares of Netflix, Inc. (NASDAQ:NFLX)

Public Employees Retirement Association of Colorado decreased its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 4.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,559 shares of the Internet television network's stock after selling 2,438 shares during the period. Public Employees Retirement Association of Colorado's holdings in Netflix were worth $51,303,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Pathway Financial Advisers LLC lifted its stake in shares of Netflix by 82.4% in the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock valued at $27,000 after purchasing an additional 14 shares during the period. Transce3nd LLC bought a new position in Netflix in the fourth quarter worth $32,000. Newton One Investments LLC purchased a new position in Netflix during the fourth quarter valued at $34,000. Pineridge Advisors LLC boosted its holdings in shares of Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network's stock valued at $37,000 after buying an additional 40 shares in the last quarter. Finally, Princeton Global Asset Management LLC grew its position in shares of Netflix by 51.6% in the 4th quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network's stock worth $42,000 after buying an additional 16 shares during the period. Hedge funds and other institutional investors own 80.93% of the company's stock.

Netflix Price Performance

Shares of NFLX traded up $6.08 during trading hours on Wednesday, reaching $1,131.72. 4,242,458 shares of the stock traded hands, compared to its average volume of 4,920,268. Netflix, Inc. has a 52-week low of $544.25 and a 52-week high of $1,133.20. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market cap of $481.63 billion, a P/E ratio of 57.07, a price-to-earnings-growth ratio of 2.12 and a beta of 1.55. The company's 50-day moving average price is $959.28 and its two-hundred day moving average price is $910.31.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.54 billion during the quarter, compared to analysts' expectations of $10.51 billion. During the same quarter last year, the business posted $8.28 earnings per share. On average, analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on NFLX shares. Arete Research raised shares of Netflix to a "hold" rating in a research note on Thursday, January 23rd. Bank of America boosted their price target on Netflix from $1,000.00 to $1,175.00 and gave the stock a "buy" rating in a research report on Wednesday, January 22nd. Benchmark reaffirmed a "hold" rating on shares of Netflix in a research report on Monday, April 21st. Oppenheimer reissued an "outperform" rating and issued a $1,200.00 target price (up from $1,150.00) on shares of Netflix in a report on Friday, April 18th. Finally, Barclays raised their price target on Netflix from $900.00 to $1,000.00 and gave the company an "equal weight" rating in a report on Monday, April 21st. Ten investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $1,072.12.

Insider Activity at Netflix

In other news, CAO Jeffrey William Karbowski sold 640 shares of Netflix stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $1,097.04, for a total value of $702,105.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Gregory K. Peters sold 102,228 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $980.74, for a total value of $100,259,088.72. Following the transaction, the chief executive officer now directly owns 12,950 shares of the company's stock, valued at approximately $12,700,583. The trade was a 88.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 274,495 shares of company stock valued at $268,176,922. Corporate insiders own 1.76% of the company's stock.

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.