Arizona State Retirement System Raises Holdings in Netflix, Inc. (NASDAQ:NFLX)

Arizona State Retirement System grew its holdings in Netflix, Inc. (NASDAQ:NFLX) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 124,697 shares of the Internet television network’s stock after purchasing an additional 1,222 shares during the period. Netflix makes up 0.7% of Arizona State Retirement System’s investment portfolio, making the stock its 21st largest position. Arizona State Retirement System’s holdings in Netflix were worth $111,145,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of NFLX. Swedbank AB lifted its holdings in shares of Netflix by 1.8% in the 3rd quarter. Swedbank AB now owns 465,208 shares of the Internet television network’s stock worth $329,958,000 after acquiring an additional 8,024 shares during the last quarter. Moloney Securities Asset Management LLC acquired a new position in Netflix during the third quarter worth $777,000. United Advisor Group LLC boosted its position in shares of Netflix by 23.0% during the third quarter. United Advisor Group LLC now owns 839 shares of the Internet television network’s stock worth $595,000 after buying an additional 157 shares during the period. Geneva Partners LLC acquired a new stake in shares of Netflix in the third quarter valued at $3,704,000. Finally, Pittenger & Anderson Inc. grew its stake in shares of Netflix by 30.5% in the third quarter. Pittenger & Anderson Inc. now owns 2,314 shares of the Internet television network’s stock valued at $1,641,000 after buying an additional 541 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $972.58 on Wednesday. The firm has a market capitalization of $416.03 billion, a price-to-earnings ratio of 49.05, a price-to-earnings-growth ratio of 2.12 and a beta of 1.27. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The business’s 50 day simple moving average is $949.77 and its 200-day simple moving average is $837.58. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. Netflix’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.11 earnings per share. As a group, equities analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NFLX has been the subject of a number of research analyst reports. Oppenheimer raised their target price on Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. increased their price target on shares of Netflix from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Evercore ISI upped their target price on shares of Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. BMO Capital Markets reissued an “outperform” rating and issued a $1,175.00 price target (up previously from $1,000.00) on shares of Netflix in a research report on Wednesday, January 22nd. Finally, Bank of America lifted their target price on Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.70.

Insider Activity

In other news, Chairman Reed Hastings sold 35,868 shares of Netflix stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the completion of the sale, the chairman now directly owns 114 shares in the company, valued at $101,241.12. The trade was a 99.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Strive Masiyiwa sold 2,813 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total transaction of $2,835,138.31. The disclosure for this sale can be found here. Insiders have sold 288,103 shares of company stock worth $279,142,041 over the last ninety days. 1.76% of the stock is currently owned by insiders.

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.