Netflix, Inc. $NFLX Shares Bought by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System increased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 12.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 253,849 shares of the Internet television network’s stock after buying an additional 27,650 shares during the period. Maryland State Retirement & Pension System’s holdings in Netflix were worth $17,663,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of NFLX. Nykredit A S purchased a new position in Netflix during the 2nd quarter valued at about $105,697,000. Rockland Trust Co. increased its position in shares of Netflix by 27.5% during the third quarter. Rockland Trust Co. now owns 219,221 shares of the Internet television network’s stock valued at $15,253,000 after buying an additional 47,339 shares during the period. Boomfish Wealth Group LLC lifted its holdings in shares of Netflix by 91.5% in the third quarter. Boomfish Wealth Group LLC now owns 34,547 shares of the Internet television network’s stock worth $2,404,000 after buying an additional 16,510 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Netflix in the second quarter worth about $37,743,000. Finally, Sarasin & Partners LLP lifted its holdings in shares of Netflix by 10.5% in the second quarter. Sarasin & Partners LLP now owns 2,736,198 shares of the Internet television network’s stock worth $195,365,000 after buying an additional 259,794 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Trending Headlines about Netflix

Here are a few of the latest headlines about NFLX:

• Positive Sentiment: A steep valuation reset has brought NFLX below 18 times earnings, which some investors may view as an attractive entry point if growth stabilizes. Article: Netflix trades under 18x earnings after a steep valuation reset
• Neutral Sentiment: Netflix expects about $12 billion in free cash flow this year and has spent more than $10.7 billion on share repurchases through September. The company has not announced a dividend, so returns to shareholders are currently centered on buybacks. Article: Will Netflix Ever Pay a Dividend?
• Negative Sentiment: Co-CEO Gregory Peters sold 27,312 shares, reducing his direct holdings by 18.61%. The sale may add to near-term caution, although the filing alone does not establish the reason for the transaction. Article: Netflix CEO Gregory Peters Sells 27,312 Shares

Insiders Place Their Bets

In other news, CEO Theodore Sarandos sold 27,312 shares of the stock in a transaction on 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 transaction, the chief executive officer owned 178,954 shares of the company’s stock, valued at $11,846,754.80. This represents a 13.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gregory Peters sold 27,312 shares of the firm’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $63.62, for a total transaction of $1,737,589.44. Following the sale, the chief executive officer owned 119,412 shares in the company, valued at approximately $7,596,991.44. This trade represents a 18.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 89,024 shares of company stock worth $5,788,733. 1.24% of the stock is owned by corporate insiders.

Netflix Stock Up 2.0%

Shares of NASDAQ NFLX opened at $64.54 on Thursday. Netflix, Inc. has a 12 month low of $61.39 and a 12 month high of $116.73. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $265.02 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 0.93 and a beta of 1.62. The business has a 50-day moving average of $70.00 and a 200-day moving average of $80.65.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, October 20th. The Internet television network reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.05. Netflix had a net margin of 29.69% and a return on equity of 42.69%. The business had revenue of $12.87 billion for the quarter, compared to the consensus estimate of $12.87 billion. During the same period last year, the firm posted $0.59 earnings per share. Netflix’s quarterly revenue was up 11.9% on a year-over-year basis. Sell-side analysts expect that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Oppenheimer reaffirmed 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. Bank of America cut their price target on shares of Netflix from $105.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, October 21st. Jefferies Financial Group set a $85.00 price target on shares of Netflix and gave the company a “buy” rating in a research report on Thursday, October 15th. New Street Research boosted their price target on shares of Netflix from $96.00 to $102.00 and gave the company a “neutral” rating in a research report on Friday, July 17th. Finally, Weiss Ratings cut shares of Netflix from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, seventeen have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.14.

Netflix Company 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.