Louisiana State Employees Retirement System Trims Stake in Netflix, Inc. (NASDAQ:NFLX)

Louisiana State Employees Retirement System lowered its stake in Netflix, Inc. (NASDAQ:NFLX) by 2.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 56,900 shares of the Internet television network’s stock after selling 1,700 shares during the quarter. Netflix makes up about 0.7% of Louisiana State Employees Retirement System’s holdings, making the stock its 12th biggest position. Louisiana State Employees Retirement System’s holdings in Netflix were worth $40,357,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Netflix by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock valued at $22,220,936,000 after buying an additional 149,341 shares in the last quarter. Jennison Associates LLC raised its holdings in Netflix by 17.0% in the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after acquiring an additional 929,193 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Netflix by 116,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after acquiring an additional 5,748,200 shares during the last quarter. Baillie Gifford & Co. raised its holdings in Netflix by 2.3% in the 2nd quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock valued at $3,213,825,000 after acquiring an additional 106,756 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in Netflix by 3.1% in the 2nd quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock valued at $2,327,738,000 after acquiring an additional 104,332 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

NASDAQ:NFLX opened at $754.68 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 0.95. The firm has a 50-day moving average of $706.67 and a two-hundred day moving average of $659.30. The stock has a market cap of $322.60 billion, a P/E ratio of 42.71, a PEG ratio of 1.48 and a beta of 1.26. Netflix, Inc. has a 1-year low of $395.62 and a 1-year high of $773.00.

Insider Buying and Selling at Netflix

In other Netflix news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $19,128,159.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider David A. Hyman sold 13,791 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total transaction of $9,653,700.00. Following the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $22,127,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David A. Hyman sold 20,656 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 229,711 shares of company stock valued at $153,905,830 in the last ninety days. Insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

NFLX has been the subject of several analyst reports. Wedbush boosted their price target on Netflix from $725.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Morgan Stanley boosted their price target on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Oppenheimer boosted their price target on Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Pivotal Research boosted their price target on Netflix from $900.00 to $925.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, KeyCorp upped their price objective on Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $747.70.

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.