Retirement Systems of Alabama Lowers Stake in Netflix, Inc. (NASDAQ:NFLX)

Retirement Systems of Alabama decreased its position in Netflix, Inc. (NASDAQ:NFLX) by 7.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 206,593 shares of the Internet television network’s stock after selling 17,083 shares during the quarter. Retirement Systems of Alabama’s holdings in Netflix were worth $146,530,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in NFLX. DigitalBridge Group Inc. lifted its holdings in Netflix by 35.5% during the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after buying an additional 9,451 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Netflix by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock worth $1,829,494,000 after acquiring an additional 29,726 shares during the period. Natixis Advisors LLC grew its stake in Netflix by 2.0% during the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock worth $434,398,000 after purchasing an additional 11,921 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in Netflix during the 3rd quarter worth about $1,517,000. Finally, Voyager Global Management LP raised its position in Netflix by 1.0% in the 3rd quarter. Voyager Global Management LP now owns 101,000 shares of the Internet television network’s stock valued at $71,636,000 after purchasing an additional 1,000 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $921.62 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market cap of $393.96 billion, a PE ratio of 52.38, a price-to-earnings-growth ratio of 1.80 and a beta of 1.27. The company has a 50-day simple moving average of $810.04 and a 200-day simple moving average of $717.45. Netflix, Inc. has a 12 month low of $461.86 and a 12 month high of $941.75.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping the consensus estimate of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The firm had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. On average, equities analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current year.

Insider Buying and Selling

In other news, Chairman Reed Hastings sold 48,363 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the sale, the chairman now directly owns 114 shares in the company, valued at $102,212.40. This represents a 99.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Gregory K. Peters sold 4,392 shares of the company’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total value of $3,184,200.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $9,490,250. The trade was a 25.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 165,405 shares of company stock worth $129,623,487. 1.76% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NFLX has been the topic of a number of recent research reports. Rosenblatt Securities raised their target price on shares of Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Guggenheim increased their price target on shares of Netflix from $810.00 to $825.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. Evercore ISI lifted their price target on shares of Netflix from $775.00 to $950.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Finally, Barclays restated an “underweight” rating and issued a $550.00 price objective on shares of Netflix in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $787.85.

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.