State of Alaska Department of Revenue Has $37.79 Million Stake in Netflix, Inc. (NASDAQ:NFLX)

State of Alaska Department of Revenue trimmed its stake in Netflix, Inc. (NASDAQ:NFLX) by 7.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,232 shares of the Internet television network’s stock after selling 4,780 shares during the period. State of Alaska Department of Revenue’s holdings in Netflix were worth $37,794,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Columbia Trust Co 01012016 lifted its position in shares of Netflix by 15.3% during the fourth quarter. Columbia Trust Co 01012016 now owns 1,566 shares of the Internet television network’s stock worth $762,000 after purchasing an additional 208 shares in the last quarter. Crumly & Associates Inc. lifted its holdings in Netflix by 4.1% in the fourth quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network’s stock valued at $1,025,000 after buying an additional 83 shares during the period. Venture Visionary Partners LLC lifted its holdings in Netflix by 15.4% in the fourth quarter. Venture Visionary Partners LLC now owns 9,849 shares of the Internet television network’s stock valued at $4,795,000 after buying an additional 1,318 shares during the period. Sandy Cove Advisors LLC lifted its holdings in Netflix by 10.6% in the fourth quarter. Sandy Cove Advisors LLC now owns 1,187 shares of the Internet television network’s stock valued at $578,000 after buying an additional 114 shares during the period. Finally, Malaga Cove Capital LLC lifted its holdings in Netflix by 25.4% in the fourth quarter. Malaga Cove Capital LLC now owns 1,562 shares of the Internet television network’s stock valued at $761,000 after buying an additional 316 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Performance

Shares of NASDAQ NFLX traded up $2.93 during mid-day trading on Wednesday, reaching $682.51. 1,403,545 shares of the company were exchanged, compared to its average volume of 3,945,199. The company’s 50-day simple moving average is $633.35 and its 200-day simple moving average is $587.97. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $294.16 billion, a P/E ratio of 47.18, a P/E/G ratio of 1.46 and a beta of 1.27. Netflix, Inc. has a twelve month low of $344.73 and a twelve month high of $689.88.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. The company had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. Netflix’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.88 EPS. As a group, research analysts predict that Netflix, Inc. will post 18.31 earnings per share for the current year.

Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 22,526 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the transaction, the chairman now directly owns 57 shares of the company’s stock, valued at $38,217.93. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Chairman Reed Hastings sold 22,526 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the transaction, the chairman now directly owns 57 shares of the company’s stock, valued at $38,217.93. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Spencer Adam Neumann sold 564 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $613.08, for a total transaction of $345,777.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,385 shares of company stock worth $44,469,351. 1.76% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NFLX has been the topic of several analyst reports. Wells Fargo & Company increased their price objective on shares of Netflix from $650.00 to $726.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Bank of America increased their price objective on shares of Netflix from $650.00 to $700.00 and gave the company a “buy” rating in a report on Friday, April 19th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Netflix from $525.00 to $550.00 and gave the company a “hold” rating in a report on Monday, April 15th. Sanford C. Bernstein upped their target price on shares of Netflix from $490.00 to $600.00 and gave the company a “market perform” rating in a research note on Friday, April 19th. Finally, Evercore ISI upped their target price on shares of Netflix from $650.00 to $700.00 and gave the company an “outperform” rating in a research note on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $637.34.

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.