State of Michigan Retirement System Buys 5,100 Shares of Netflix, Inc. (NASDAQ:NFLX)

State of Michigan Retirement System increased its stake in Netflix, Inc. (NASDAQ:NFLX) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 161,249 shares of the Internet television network’s stock after purchasing an additional 5,100 shares during the quarter. Netflix makes up approximately 0.7% of State of Michigan Retirement System’s investment portfolio, making the stock its 20th biggest position. State of Michigan Retirement System’s holdings in Netflix were worth $143,724,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC bought a new stake in Netflix during the third quarter valued at about $25,000. Pathway Financial Advisers LLC raised its holdings in Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 14 shares during the period. Newton One Investments LLC bought a new stake in Netflix during the fourth quarter valued at about $34,000. MidAtlantic Capital Management Inc. bought a new stake in Netflix during the third quarter valued at about $37,000. Finally, Pineridge Advisors LLC raised its holdings in Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after acquiring an additional 40 shares during the period. 80.93% of the stock is owned by institutional investors.

Netflix Stock Performance

Shares of NFLX stock opened at $973.70 on Tuesday. The business’s fifty day simple moving average is $948.96 and its 200-day simple moving average is $835.48. The company has a market cap of $416.51 billion, a PE ratio of 49.10, a PEG ratio of 2.12 and a beta of 1.27. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50.

Netflix (NASDAQ:NFLX) last issued 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. The company had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the business posted $2.11 EPS. Analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on NFLX. Morgan Stanley raised their price target on Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Arete Research raised Netflix to a “hold” rating in a report on Thursday, January 23rd. Needham & Company LLC lifted their target price on Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $1,100.00 target price (up from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Finally, Evercore ISI lifted their target price on Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,021.70.

Insider Transactions at Netflix

In related news, CAO Jeffrey William Karbowski sold 480 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $986.75, for a total transaction of $473,640.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann Mather sold 2,682 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $973.00, for a total transaction of $2,609,586.00. The disclosure for this sale can be found here. Insiders sold a total of 255,017 shares of company stock worth $246,653,898 over the last three months. 1.76% of the stock is currently owned by insiders.

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.