Netflix, Inc. (NASDAQ:NFLX) Shares Purchased by Employees Retirement System of Texas

Employees Retirement System of Texas grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 141,527 shares of the Internet television network’s stock after buying an additional 3,062 shares during the period. Netflix accounts for 0.9% of Employees Retirement System of Texas’ investment portfolio, making the stock its 21st biggest position. Employees Retirement System of Texas’ holdings in Netflix were worth $95,514,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP increased its position in Netflix by 540.9% during the 4th quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after purchasing an additional 3,273,592 shares in the last quarter. GQG Partners LLC purchased a new stake in shares of Netflix during the first quarter worth about $1,450,476,000. Jennison Associates LLC raised its position in shares of Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after buying an additional 929,193 shares during the last quarter. Global Assets Advisory LLC purchased a new position in shares of Netflix during the first quarter valued at approximately $436,514,000. Finally, Jericho Capital Asset Management L.P. purchased a new position in shares of Netflix during the first quarter valued at approximately $372,293,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Argus boosted their price target on Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Morgan Stanley upped their target price on Netflix from $700.00 to $780.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. UBS Group lifted their price target on Netflix from $685.00 to $750.00 and gave the company a “buy” rating in a report on Friday, July 19th. Oppenheimer reaffirmed an “outperform” rating and set a $725.00 price objective on shares of Netflix in a research note on Tuesday, July 30th. Finally, Evercore ISI raised their target price on shares of Netflix from $710.00 to $750.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $685.29.

Netflix Stock Performance

NASDAQ:NFLX opened at $721.56 on Thursday. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $725.12. The stock has a market cap of $310.99 billion, a P/E ratio of 50.07, a PEG ratio of 1.44 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a 50-day moving average of $665.29 and a two-hundred day moving average of $642.66.

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

Insider Transactions at Netflix

In related news, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total value of $271,140.27. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jay C. Hoag sold 43,750 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $687.07, for a total value of $30,059,312.50. Following the sale, the director now owns 95,040 shares in the company, valued at approximately $65,299,132.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 197,226 shares of company stock valued at $129,858,692. 1.76% of the stock is currently owned by corporate insiders.

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.