New Mexico Educational Retirement Board Has $15 Million Stock Holdings in Netflix, Inc. $NFLX

New Mexico Educational Retirement Board lifted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 9.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,110 shares of the Internet television network’s stock after purchasing an additional 17,900 shares during the period. New Mexico Educational Retirement Board’s holdings in Netflix were worth $15,002,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Shepherd Street Advisors LLC acquired a new position in shares of Netflix during the 4th quarter valued at $2,216,000. Morse Asset Management Inc raised its position in Netflix by 809.3% in the fourth quarter. Morse Asset Management Inc now owns 64,730 shares of the Internet television network’s stock valued at $6,069,000 after purchasing an additional 57,611 shares during the period. University of Texas Texas AM Investment Management Co. lifted its stake in shares of Netflix by 798.5% during the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 42,542 shares of the Internet television network’s stock worth $3,989,000 after purchasing an additional 37,807 shares in the last quarter. Ritholtz Wealth Management boosted its position in shares of Netflix by 25.0% in the first quarter. Ritholtz Wealth Management now owns 106,451 shares of the Internet television network’s stock worth $10,235,000 after buying an additional 21,260 shares during the period. Finally, Natixis Advisors LLC grew its stake in shares of Netflix by 797.3% in the fourth quarter. Natixis Advisors LLC now owns 4,989,919 shares of the Internet television network’s stock valued at $467,854,000 after buying an additional 4,433,837 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analyst Ratings Changes

NFLX has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft set a $110.00 price target on Netflix in a research report on Monday, July 20th. The Goldman Sachs Group lowered shares of Netflix from an “underweight” rating to a “sell” rating in a report on Monday, July 20th. Raymond James Financial reiterated a “market perform” rating on shares of Netflix in a report on Thursday, May 14th. Weiss Ratings lowered Netflix from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, June 26th. Finally, Wedbush reduced their price target on Netflix from $118.00 to $105.00 and set an “outperform” rating for the company in a report on Friday, July 17th. Four research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $103.19.

Netflix News Roundup

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Bill Ackman’s Pershing Square reportedly added approximately 13.1 million Netflix shares, making NFLX one of the hedge fund’s new concentrated holdings. The move may bolster investor confidence in Netflix’s valuation and long-term earnings potential. Bill Ackman portfolio overhaul article
• Positive Sentiment: Analysts and market commentators point to Netflix’s rapidly expanding advertising business, a potential $3 billion advertising revenue opportunity, continued global expansion and margin growth as catalysts for a possible recovery toward $100 and beyond. Record share buybacks could further support earnings per share. Netflix stock price prediction article
• Positive Sentiment: Netflix is being described as an undervalued long-term holding, with bullish arguments centered on double-digit revenue growth, free-cash-flow generation and the ability to monetize live events and lower-priced ad-supported plans. Netflix five-year outlook article
• Neutral Sentiment: The Netflix preview of Grand Theft Auto VI attracted significant online attention and traffic, but the immediate stock-market beneficiary appears to be Take-Two Interactive, the game’s publisher, rather than Netflix. GTA 6 Netflix preview article
• Negative Sentiment: Some analysts argue that Netflix’s growth is moderating and that Alphabet offers stronger diversification, advertising exposure and valuation. Recent commentary also identifies resistance near $82 and muted enthusiasm following the latest earnings report. NFLX versus GOOGL article
• Negative Sentiment: Reported insider activity remains a potential overhang: executives and directors made numerous sales and no purchases over the past six months. Investors may interpret the selling as reduced insider conviction, although it may also reflect routine diversification. Netflix ad monetization and market resistance article

Insider Buying and Selling at Netflix

In other Netflix news, Director Bradford L. Smith sold 35,990 shares of Netflix stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $77.52, for a total transaction of $2,789,944.80. Following the sale, the director owned 79,690 shares of the company’s stock, valued at $6,177,568.80. The trade was a 31.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Theodore A. Sarandos sold 105,850 shares of Netflix stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $73.03, for a total value of $7,730,225.50. Following the sale, the chief executive officer directly owned 206,266 shares in the company, valued at $15,063,605.98. The trade was a 33.91% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 600,295 shares of company stock valued at $49,056,671. 1.24% of the stock is currently owned by insiders.

Netflix Stock Up 2.4%

NFLX stock opened at $81.72 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. Netflix, Inc. has a fifty-two week low of $65.08 and a fifty-two week high of $126.71. The firm’s 50-day simple moving average is $74.65 and its 200 day simple moving average is $84.33. The stock has a market cap of $340.28 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 1.00 and a beta of 1.52.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, July 16th. The Internet television network reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. Netflix had a net margin of 28.22% and a return on equity of 40.02%. The firm had revenue of $12.56 billion during the quarter, compared to analyst estimates of $12.58 billion. During the same period in the previous year, the business posted $0.72 EPS. Netflix’s revenue was up 13.4% on a year-over-year basis. As a group, sell-side analysts predict that Netflix, Inc. will post 3.59 EPS for the current year.

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.