California Public Employees Retirement System Lowers Stake in Netflix, Inc. (NASDAQ:NFLX)

California Public Employees Retirement System trimmed its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 736,545 shares of the Internet television network's stock after selling 36,892 shares during the period. California Public Employees Retirement System owned approximately 0.17% of Netflix worth $656,497,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NFLX. Nordea Investment Management AB increased its position in shares of Netflix by 22.7% in the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network's stock worth $760,918,000 after purchasing an additional 156,958 shares during the period. First National Trust Co grew its stake in shares of Netflix by 1.0% in the 4th quarter. First National Trust Co now owns 1,258 shares of the Internet television network's stock worth $1,121,000 after acquiring an additional 12 shares in the last quarter. Haven Private LLC bought a new position in shares of Netflix during the 4th quarter valued at approximately $733,000. Sigma Planning Corp grew its stake in Netflix by 7.4% in the 4th quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network's stock valued at $4,966,000 after buying an additional 386 shares in the last quarter. Finally, M&T Bank Corp grew its position in shares of Netflix by 4.2% during the 3rd quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network's stock valued at $29,751,000 after purchasing an additional 1,684 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

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Netflix Trading Down 0.1 %

NASDAQ:NFLX traded down $1.32 during mid-day trading on Monday, hitting $932.53. The company had a trading volume of 4,628,099 shares, compared to its average volume of 3,587,331. The firm has a market cap of $398.90 billion, a P/E ratio of 47.03, a P/E/G 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 business's fifty day moving average is $971.74 and its two-hundred day moving average is $869.42. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $1,064.50.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating analysts' consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm's quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.11 earnings per share. As a group, research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analysts Set New Price Targets

NFLX has been the topic of a number of analyst reports. Phillip Securities cut shares of Netflix from a "hold" rating to a "moderate sell" rating in a research report on Friday, January 24th. Bank of America boosted their price objective on shares of Netflix from $1,000.00 to $1,175.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. FBN Securities started coverage on shares of Netflix in a report on Thursday. They issued an "outperform" rating and a $1,165.00 price target on the stock. Citigroup increased their price target on shares of Netflix from $725.00 to $920.00 and gave the stock a "neutral" rating in a report on Thursday, December 5th. Finally, StockNews.com cut Netflix from a "buy" rating to a "hold" rating in a research note on Tuesday, February 4th. Ten analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,021.02.

Insider Activity at Netflix

In other Netflix news, Director Richard N. Barton sold 6,364 shares of Netflix stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the completion of the sale, the director now owns 246 shares of the company's stock, valued at approximately $216,327.48. The trade was a 96.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David A. Hyman sold 41,121 shares of Netflix stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $979.01, for a total value of $40,257,870.21. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $30,946,506.10. The trade was a 56.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 288,583 shares of company stock worth $279,611,567. Corporate insiders own 1.76% of the company's stock.

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.