Arizona State Retirement System Sells 77 Shares of Netflix, Inc. (NASDAQ:NFLX)

Arizona State Retirement System trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 125,523 shares of the Internet television network’s stock after selling 77 shares during the period. Netflix comprises approximately 0.6% of Arizona State Retirement System’s investment portfolio, making the stock its 24th largest holding. Arizona State Retirement System’s holdings in Netflix were worth $84,713,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Denver PWM LLC purchased a new position in Netflix during the 2nd quarter valued at about $25,000. Valued Wealth Advisors LLC boosted its position in shares of Netflix by 80.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 20 shares during the last quarter. VitalStone Financial LLC boosted its position in shares of Netflix by 933.3% during the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after acquiring an additional 56 shares during the last quarter. Beaird Harris Wealth Management LLC boosted its position in shares of Netflix by 1,550.0% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 62 shares during the last quarter. Finally, Scarborough Advisors LLC bought a new stake in shares of Netflix during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NFLX shares. Piper Sandler lifted their price target on Netflix from $600.00 to $650.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. StockNews.com downgraded Netflix from a “buy” rating to a “hold” rating in a research report on Thursday, August 29th. TD Cowen boosted their target price on Netflix from $725.00 to $775.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Sanford C. Bernstein boosted their target price on Netflix from $600.00 to $625.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. Finally, Morgan Stanley boosted their target price on Netflix from $700.00 to $780.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $685.29.

Insider Buying and Selling

In other news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Netflix news, CEO Gregory K. Peters sold 4,783 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $8,835,750. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David A. Hyman sold 20,656 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 157,831 shares of company stock worth $102,721,884. Insiders own 1.76% of the company’s stock.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $682.99 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $711.33. The company has a market capitalization of $294.37 billion, a P/E ratio of 47.44, a P/E/G ratio of 1.44 and a beta of 1.27. The firm’s 50 day simple moving average is $660.07 and its two-hundred day simple moving average is $633.26.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating the consensus estimate of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The business had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. During the same quarter in the previous year, the firm earned $3.29 earnings per share. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. Research analysts expect that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

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.