California Public Employees Retirement System Has $656.50 Million Stock Position in Netflix, Inc. (NASDAQ:NFLX)

California Public Employees Retirement System lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 736,545 shares of the Internet television network’s stock after selling 36,892 shares during the quarter. California Public Employees Retirement System’s holdings in Netflix were worth $656,497,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC increased its position in shares of Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 14 shares in the last quarter. Newton One Investments LLC acquired a new stake in shares of Netflix in the 4th quarter valued at about $34,000. Pineridge Advisors LLC lifted 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 valued at $37,000 after purchasing an additional 40 shares in the last quarter. Princeton Global Asset Management LLC grew its holdings in shares of Netflix by 51.6% during 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 in the last quarter. Finally, Decker Retirement Planning Inc. acquired a new stake in Netflix in the 4th quarter valued at approximately $43,000. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NFLX. Morgan Stanley upped their price target on Netflix from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Wolfe Research upgraded shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price target on the stock in a research note on Thursday, January 23rd. Guggenheim increased their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Wedbush reaffirmed an “outperform” rating and issued a $1,150.00 target price (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Finally, Pivotal Research increased their price target on Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and a consensus target price of $1,021.02.

Insider Buying and Selling

In other Netflix news, CEO Gregory K. Peters sold 102,228 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the completion of the sale, the chief executive officer now directly owns 12,950 shares in the company, valued at $12,700,583. This represents a 88.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jeffrey William Karbowski sold 480 shares of Netflix stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $986.75, for a total value of $473,640.00. The disclosure for this sale can be found here. Insiders sold 288,583 shares of company stock valued at $279,611,567 over the last quarter. 1.76% of the stock is owned by company insiders.

Netflix Stock Down 4.4 %

NASDAQ NFLX opened at $933.85 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market cap of $399.46 billion, a price-to-earnings ratio of 47.09, a PEG ratio of 2.12 and a beta of 1.38. The company has a 50 day moving average of $971.74 and a 200-day moving average of $868.10. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $1,064.50.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating the consensus estimate of $4.20 by $0.07. The firm had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.11 EPS. On average, equities research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Netflix Company 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.