New Mexico Educational Retirement Board Decreases Stake in Netflix, Inc. (NASDAQ:NFLX)

New Mexico Educational Retirement Board reduced its position in Netflix, Inc. (NASDAQ:NFLX) by 2.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,421 shares of the Internet television network’s stock after selling 600 shares during the period. Netflix accounts for about 0.6% of New Mexico Educational Retirement Board’s investment portfolio, making the stock its 21st biggest position. New Mexico Educational Retirement Board’s holdings in Netflix were worth $18,202,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Pathway Financial Advisers LLC raised its position in Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after purchasing an additional 14 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in Netflix during the third quarter valued at approximately $25,000. Newton One Investments LLC purchased a new stake in Netflix during the fourth quarter valued at approximately $34,000. Pineridge Advisors LLC raised its holdings in shares of Netflix by 4,000.0% in the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after buying an additional 40 shares during the period. Finally, Princeton Global Asset Management LLC raised its holdings in shares of Netflix by 51.6% in the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock worth $42,000 after buying an additional 16 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Netflix news, CEO Gregory K. Peters sold 4,939 shares of Netflix stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,030.00, for a total transaction of $5,087,170.00. Following the completion of the transaction, the chief executive officer now owns 12,950 shares in the company, valued at approximately $13,338,500. This trade represents a 27.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard N. Barton sold 6,364 shares of Netflix stock in a transaction dated 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 transaction, the director now owns 246 shares of the company’s stock, valued at $216,327.48. The trade was a 96.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 303,809 shares of company stock worth $290,374,484 in the last 90 days. Insiders own 1.76% of the company’s stock.

Netflix Stock Performance

Shares of NFLX stock opened at $1,058.60 on Friday. The firm has a market capitalization of $452.83 billion, a price-to-earnings ratio of 53.38, a price-to-earnings-growth ratio of 2.11 and a beta of 1.27. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The business has a fifty day moving average of $926.92 and a 200 day moving average of $801.02. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on NFLX shares. Sanford C. Bernstein upgraded Netflix from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $975.00 to $1,200.00 in a report on Friday, January 24th. UBS Group increased their price target on Netflix from $1,040.00 to $1,150.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Piper Sandler reiterated an “overweight” rating and issued a $1,100.00 price target (up from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Robert W. Baird increased their price target on Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Finally, Barclays upgraded Netflix from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $715.00 to $900.00 in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,021.70.

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.