Maryland State Retirement & Pension System Reduces Stake in Netflix, Inc. (NASDAQ:NFLX)

Maryland State Retirement & Pension System reduced its position in Netflix, Inc. (NASDAQ:NFLX) by 5.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,118 shares of the Internet television network’s stock after selling 1,435 shares during the period. Maryland State Retirement & Pension System’s holdings in Netflix were worth $20,606,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of NFLX. RPg Family Wealth Advisory LLC acquired a new stake in Netflix during the 3rd quarter valued at $25,000. Pathway Financial Advisers LLC grew its holdings in Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after buying an additional 14 shares during the last quarter. Newton One Investments LLC acquired a new stake in Netflix during the 4th quarter valued at $34,000. MidAtlantic Capital Management Inc. acquired a new stake in Netflix during the 3rd quarter valued at $37,000. Finally, Pineridge Advisors LLC grew its holdings in 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 during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NFLX shares. Oppenheimer increased 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. Morgan Stanley raised their price objective on Netflix from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Macquarie raised their price objective on Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft raised their price objective on Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a report on Wednesday, January 22nd. Finally, KeyCorp raised their price objective on Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,016.78.

Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 35,868 shares of Netflix stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total value of $31,853,653.44. Following the completion of the transaction, the chairman now directly owns 114 shares in the company, valued at approximately $101,241.12. This trade represents a 99.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Strive Masiyiwa sold 2,813 shares of Netflix stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $1,007.87, for a total value of $2,835,138.31. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 288,103 shares of company stock valued at $279,142,041. 1.76% of the stock is currently owned by insiders.

Netflix Stock Down 2.1 %

Shares of NASDAQ NFLX opened at $929.98 on Wednesday. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50. The firm has a market cap of $397.81 billion, a price-to-earnings ratio of 46.90, a PEG ratio of 2.12 and a beta of 1.38. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The stock’s 50-day simple moving average is $953.42 and its 200-day simple moving average is $853.33.

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

Netflix Company Profile

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.