Retirement Systems of Alabama Reduces Netflix Holdings

Retirement Systems of Alabama has reduced its stake in Netflix, Inc. (NASDAQ:NFLX) by 7.6% during the third quarter. According to the firm's latest disclosure with the Securities & Exchange Commission, the firm now owns 206,593 shares of Netflix's stock after selling 17,083 shares during this period. The value of Retirement Systems of Alabama's holdings in Netflix stands at approximately $146,530,000 based on the recent SEC filing.

Changes in Investor Stakes

Recently, other large investors have also made changes to their positions in NFLX. For example, DigitalBridge Group Inc. raised its holdings in Netflix by 35.5% during the second quarter, now owning 36,063 shares valued at $24,338,000 after acquiring an additional 9,451 shares. Meanwhile, Charles Schwab Investment Management Inc. increased its stake by 1.2% during the third quarter and currently holds 2,579,404 shares worth about $1,829,494,000. Natixis Advisors LLC also saw a growth in its stake by 2.0%, rising to 612,458 shares valued at approximately $434,398,000 after purchasing an additional 11,921 shares in the last quarter.

In addition, Kestra Investment Management LLC made a new investment in Netflix worth around $1,517,000 during the third quarter. Voyager Global Management LP upped its position by 1.0%, acquiring an additional 1,000 shares and bringing its total to 101,000 shares valued at $71,636,000. Currently, institutional investors and hedge funds own about 80.93% of Netflix's stock.

Current Stock Performance

As for Netflix's stock performance, shares opened at $921.62 recently. The company has a debt-to-equity ratio of 0.62 and both a current and quick ratio of 1.13. With a market capitalization of $393.96 billion, Netflix has a PE ratio of 52.38 and a price-to-earnings-growth ratio of 1.80. The stock has fluctuated between a 12-month low of $461.86 and a high of $941.75. Additionally, the firm reported a 50-day simple moving average of $810.04 and a 200-day average of $717.45.

Recent Earnings Results

Netflix last released its earnings results on October 17th, reporting an earnings per share (EPS) of $5.40, which exceeded analysts' expectations of $5.09. The company’s net margin stood at 20.70%, with a 35.86% return on equity. Netflix brought in revenue of $9.82 billion for the quarter, surpassing projected expectations of $9.77 billion. Analysts predict that Netflix will achieve 19.78 earnings per share over the current year.

Insider Trading Activity

In insider news, Chairman Reed Hastings sold 48,363 shares of Netflix on December 2nd at an average price of $896.60, totaling approximately $43,362,265.80 for the transaction. Post-sale, he retains a minimal ownership of 114 shares valued at $102,212.40. This change indicates a significant reduction of 99.76% in his position. CEO Gregory K. Peters also sold 4,392 shares on September 25th for about $3,184,200 at an average price of $725.00. After this transaction, he holds 13,090 shares, valued at $9,490,250, representing a 25.12% decrease. Over the last ninety days, insiders have sold 165,405 shares valued at approximately $129,623,487, while company insiders currently own about 1.76% of the stock.

Analysts' Forecasts

Looking ahead, Netflix has been the focus of recent research reports. Rosenblatt Securities increased its target price from $635.00 to $680.00 while maintaining a "neutral" rating. Guggenheim raised its price target from $810.00 to $825.00 and labeled the stock with a "buy" rating. Additionally, Evercore ISI has recently lifted its price target on Netflix from $775.00 to $950.00, giving it an "outperform" rating. However, Barclays has restated an "underweight" rating with a $550.00 price objective. Analysts show a range of opinions with two recommending a sell, nine issuing a hold rating, and twenty-five suggesting a buy. Currently, the overall consensus rating stands at "Moderate Buy" with an average price target of $787.85.

About Netflix

Netflix, Inc. provides a wide range of entertainment services including TV series, documentaries, feature films, and games in various genres and languages. Members can stream content through a variety of internet-connected devices.

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