State of New Jersey Common Pension Fund D Cuts Position in Netflix, Inc. (NASDAQ:NFLX)

State of New Jersey Common Pension Fund D decreased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 0.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 159,294 shares of the Internet television network’s stock after selling 207 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Netflix were worth $112,982,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. DigitalBridge Group Inc. increased its stake in shares of Netflix by 35.5% during the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after buying an additional 9,451 shares during the period. M&G Plc purchased a new position in shares of Netflix in the 1st quarter worth about $9,682,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Netflix by 58.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock valued at $55,968,000 after buying an additional 30,511 shares during the last quarter. Forsta AP Fonden boosted its stake in Netflix by 7.7% during the 3rd quarter. Forsta AP Fonden now owns 121,400 shares of the Internet television network’s stock valued at $86,105,000 after purchasing an additional 8,700 shares during the last quarter. Finally, Koshinski Asset Management Inc. bought a new stake in Netflix in the 1st quarter worth about $1,304,000. Institutional investors own 80.93% of the company’s stock.

Netflix Trading Down 0.2 %

Netflix stock traded down $1.50 during mid-day trading on Friday, hitting $795.04. The company’s stock had a trading volume of 1,910,626 shares, compared to its average volume of 3,927,056. Netflix, Inc. has a 1 year low of $434.35 and a 1 year high of $799.06. The stock’s fifty day moving average is $721.55 and its two-hundred day moving average is $671.19. The firm has a market capitalization of $339.85 billion, a PE ratio of 44.99, a price-to-earnings-growth ratio of 1.50 and a beta of 1.25. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. On average, analysts anticipate that Netflix, Inc. will post 19.78 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NFLX shares. Barclays reiterated an “underweight” rating and set a $550.00 target price on shares of Netflix in a research note on Friday, October 18th. Canaccord Genuity Group raised their price objective on shares of Netflix from $750.00 to $760.00 and gave the company a “hold” rating in a research report on Friday, October 18th. Guggenheim increased their target price on Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, Macquarie reiterated an “outperform” rating and issued a $795.00 price target on shares of Netflix in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $748.15.

Insider Activity at Netflix

In related news, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $772.10, for a total value of $334,319.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Netflix news, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $772.10, for a total transaction of $334,319.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jay C. Hoag sold 37,675 shares of Netflix stock in a transaction on Monday, August 12th. The shares were sold at an average price of $629.73, for a total transaction of $23,725,077.75. The disclosure for this sale can be found here. Insiders have sold 242,112 shares of company stock valued at $169,954,456 over the last quarter. 1.76% of the stock is owned by insiders.

Netflix 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.