322,558 Netflix, Inc. $NFLX Shares Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama increased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 20.0% during the third quarter, HoldingsChannel.com reports. The fund owned 1,933,969 shares of the Internet television network’s stock after buying an additional 322,558 shares during the period. Retirement Systems of Alabama’s holdings in Netflix were worth $134,566,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Netflix in the second quarter valued at approximately $24,902,221,000. State Street Corp increased its holdings in shares of Netflix by 4.9% in the second quarter. State Street Corp now owns 180,129,582 shares of the Internet television network’s stock valued at $12,861,252,000 after purchasing an additional 8,474,820 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Netflix by 4.3% in the first quarter. Bank of America Corp DE now owns 57,942,812 shares of the Internet television network’s stock valued at $5,571,201,000 after purchasing an additional 2,376,349 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Netflix during the second quarter worth approximately $1,906,482,000. Finally, Legal & General Group Plc purchased a new position in Netflix during the second quarter worth approximately $1,886,526,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

NFLX has been the topic of a number of recent research reports. Oppenheimer reissued an “outperform” rating and set a $80.00 price objective (down from $85.00) on shares of Netflix in a research note on Wednesday, October 21st. Evercore reiterated an “outperform” rating and set a $90.00 price target on shares of Netflix in a report on Wednesday, October 21st. Weiss Ratings cut shares of Netflix from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 23rd. CICC Research lowered their price target on shares of Netflix from $110.00 to $90.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 21st. Finally, William Blair reissued an “outperform” rating on shares of Netflix in a report on Wednesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, seventeen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Netflix has an average rating of “Moderate Buy” and an average target price of $89.14.

Insiders Place Their Bets

In related news, CEO Theodore A. Sarandos sold 27,312 shares of the business’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $66.20, for a total value of $1,808,054.40. Following the sale, the chief executive officer directly owned 178,954 shares in the company, valued at approximately $11,846,754.80. The trade was a 13.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David A. Hyman sold 5,727 shares of the company’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $64.55, for a total transaction of $369,677.85. Following the completion of the transaction, the insider directly owned 166,100 shares in the company, valued at $10,721,755. The trade was a 3.33% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 61,712 shares of company stock worth $4,051,144. Corporate insiders own 1.24% of the company’s stock.

Netflix Trading Up 0.9%

NFLX opened at $63.95 on Tuesday. Netflix, Inc. has a one year low of $61.39 and a one year high of $116.73. The stock has a market capitalization of $262.60 billion, a PE ratio of 18.48, a P/E/G ratio of 0.97 and a beta of 1.62. The business’s 50 day moving average price is $70.68 and its 200 day moving average price is $80.86. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.07 and a current ratio of 1.07.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Tuesday, October 20th. The Internet television network reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.05. The company had revenue of $12.87 billion during the quarter, compared to analyst estimates of $12.87 billion. Netflix had a return on equity of 42.69% and a net margin of 29.69%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.59 earnings per share. As a group, equities research analysts expect that Netflix, Inc. will post 3.59 EPS for the current year.

Netflix Profile

Netflix, Inc is an entertainment company that offers subscription-based streaming of television series, films, documentaries and other programming. Its service also includes mobile games and, in some markets, advertising-supported viewing plans. Netflix produces and licenses content, including titles made under its Netflix brand.

Founded in 1997 by Reed Hastings and Marc Randolph as a DVD-by-mail rental business, the company launched its streaming service in 2007 and later expanded into original programming.