Louisiana State Employees Retirement System Sells 2,700 Shares of Netflix, Inc. (NASDAQ:NFLX)

Louisiana State Employees Retirement System reduced its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 54,200 shares of the Internet television network’s stock after selling 2,700 shares during the quarter. Netflix makes up about 0.9% of Louisiana State Employees Retirement System’s holdings, making the stock its 11th biggest holding. Louisiana State Employees Retirement System’s holdings in Netflix were worth $48,310,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after buying an additional 426,740 shares during the period. Geode Capital Management LLC increased its stake in shares of Netflix by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after acquiring an additional 123,029 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares during the last quarter. International Assets Investment Management LLC raised its stake in Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after buying an additional 5,748,200 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Netflix by 0.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after purchasing an additional 23,702 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling

In related news, CEO Gregory K. Peters sold 4,939 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total transaction of $5,087,170.00. Following the sale, the chief executive officer now owns 12,950 shares of the company’s stock, valued at $13,338,500. This represents a 27.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Strive Masiyiwa sold 2,813 shares of Netflix stock in a transaction on Thursday, February 6th. The stock was 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. Over the last three months, insiders have sold 303,809 shares of company stock worth $290,374,484. Corporate insiders own 1.76% of the company’s stock.

Netflix Trading Down 1.9 %

Netflix stock opened at $1,008.08 on Wednesday. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,032.85. The firm’s 50 day moving average price is $919.96 and its 200-day moving average price is $795.06. 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 stock has a market cap of $431.22 billion, a P/E ratio of 50.84, a PEG ratio of 2.11 and a beta of 1.27.

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

Analyst Ratings Changes

Several analysts have commented on NFLX shares. Benchmark upgraded Netflix from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. BMO Capital Markets restated an “outperform” rating and set a $1,175.00 target price (up previously from $1,000.00) on shares of Netflix in a research note on Wednesday, January 22nd. Arete Research upgraded shares of Netflix to a “hold” rating in a research note on Thursday, January 23rd. TD Cowen increased their price objective on shares of Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, UBS Group lifted their target price on shares of Netflix from $1,040.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Netflix has an average rating of “Moderate Buy” and a consensus target price of $1,021.70.

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.