New Mexico Educational Retirement Board Purchases 2,700 Shares of Netflix, Inc. (NASDAQ:NFLX)

New Mexico Educational Retirement Board boosted its position in Netflix, Inc. (NASDAQ:NFLX) by 11.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,821 shares of the Internet television network’s stock after purchasing an additional 2,700 shares during the period. Netflix makes up approximately 0.5% of New Mexico Educational Retirement Board’s investment portfolio, making the stock its 23rd biggest holding. New Mexico Educational Retirement Board’s holdings in Netflix were worth $15,682,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Founders Financial Securities LLC increased its position in shares of Netflix by 2.7% during the first quarter. Founders Financial Securities LLC now owns 2,457 shares of the Internet television network’s stock worth $1,492,000 after acquiring an additional 64 shares during the period. Brown Miller Wealth Management LLC purchased a new position in shares of Netflix during the first quarter worth approximately $211,000. Vicus Capital purchased a new position in shares of Netflix during the first quarter worth approximately $702,000. Grimes & Company Inc. purchased a new position in shares of Netflix during the first quarter worth approximately $213,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in Netflix in the first quarter worth $230,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Netflix

In other Netflix news, CEO Gregory K. Peters sold 4,783 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $8,835,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Netflix news, CEO Gregory K. Peters sold 4,783 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $8,835,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Reed Hastings sold 19,943 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $633.58, for a total transaction of $12,635,485.94. Following the completion of the sale, the chairman now owns 57 shares of the company’s stock, valued at approximately $36,114.06. The disclosure for this sale can be found here. Insiders have sold 69,425 shares of company stock valued at $41,919,791 in the last ninety days. Insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on NFLX. Piper Sandler lifted their price objective on shares of Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Morgan Stanley lifted their price objective on shares of Netflix from $600.00 to $700.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. TD Cowen lifted their price objective on shares of Netflix from $600.00 to $725.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Benchmark lifted their price objective on shares of Netflix from $440.00 to $450.00 and gave the stock a “sell” rating in a research note on Friday, May 17th. Finally, Wedbush reiterated an “outperform” rating and set a $725.00 price objective on shares of Netflix in a research note on Monday, May 20th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $633.53.

Netflix Stock Down 1.4 %

Shares of NASDAQ:NFLX traded down $9.46 during trading hours on Friday, reaching $674.88. The stock had a trading volume of 3,412,391 shares, compared to its average volume of 2,746,538. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $689.88. The firm’s 50 day moving average is $628.93 and its 200-day moving average is $584.34. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $290.87 billion, a price-to-earnings ratio of 46.83, a P/E/G ratio of 1.46 and a beta of 1.26.

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

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.