Utah Retirement Systems reduced its position in Netflix, Inc. (NASDAQ:NFLX) by 4.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,729 shares of the Internet television network’s stock after selling 3,500 shares during the period. Netflix comprises about 0.6% of Utah Retirement Systems’ portfolio, making the stock its 25th biggest holding. Utah Retirement Systems’ holdings in Netflix were worth $42,635,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Zimmer Partners LP acquired a new position in Netflix during the first quarter worth $41,733,000. Point72 Asset Management L.P. raised its position in Netflix by 102.5% during the first quarter. Point72 Asset Management L.P. now owns 226,531 shares of the Internet television network’s stock worth $118,172,000 after acquiring an additional 114,691 shares during the period. Scholtz & Company LLC acquired a new position in Netflix during the first quarter worth $1,909,000. Eaton Vance Management raised its position in Netflix by 12.8% during the first quarter. Eaton Vance Management now owns 536,144 shares of the Internet television network’s stock worth $279,684,000 after acquiring an additional 60,956 shares during the period. Finally, Evercore Wealth Management LLC raised its position in Netflix by 1.6% during the first quarter. Evercore Wealth Management LLC now owns 4,378 shares of the Internet television network’s stock worth $2,284,000 after acquiring an additional 68 shares during the period. Hedge funds and other institutional investors own 79.75% of the company’s stock.
A number of equities research analysts have recently issued reports on NFLX shares. Macquarie dropped their target price on shares of Netflix from $600.00 to $525.00 and set a “neutral” rating for the company in a report on Wednesday, April 21st. Credit Suisse Group upped their target price on shares of Netflix from $586.00 to $643.00 and gave the stock an “outperform” rating in a report on Wednesday. Wedbush reaffirmed an “underperform” rating and set a $342.00 target price on shares of Netflix in a report on Wednesday. Morgan Stanley reaffirmed a “buy” rating and set a $650.00 target price on shares of Netflix in a report on Friday, July 16th. Finally, Wolfe Research dropped their target price on shares of Netflix from $640.00 to $630.00 and set an “outperform” rating for the company in a report on Wednesday, April 21st. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $610.23.
NASDAQ:NFLX traded down $3.68 during mid-day trading on Thursday, hitting $509.95. The stock had a trading volume of 59,655 shares, compared to its average volume of 3,300,341. The firm’s 50-day simple moving average is $511.07. The company has a market capitalization of $226.11 billion, a P/E ratio of 53.23, a PEG ratio of 1.65 and a beta of 0.74. Netflix, Inc. has a twelve month low of $458.60 and a twelve month high of $593.29. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.15.
Netflix (NASDAQ:NFLX) last issued its earnings results on Monday, July 19th. The Internet television network reported $2.97 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.16 by ($0.19). The firm had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.32 billion. Netflix had a net margin of 15.92% and a return on equity of 38.43%. The firm’s revenue was up 19.4% compared to the same quarter last year. During the same period last year, the business earned $1.59 EPS. As a group, equities analysts anticipate that Netflix, Inc. will post 10.5 EPS for the current fiscal year.
Netflix, Inc operates as a streaming entertainment service company. The firm provides subscription service streaming movies and television episodes over the Internet and sending DVDs by mail. It operates through the following segments: Domestic Streaming, International Streaming and Domestic DVD. The Domestic Streaming segment derives revenues from monthly membership fees for services consisting of streaming content to its members in the United States.
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