Illinois Municipal Retirement Fund Sells 2,600 Shares of Netflix, Inc. (NASDAQ:NFLX)

Illinois Municipal Retirement Fund trimmed its stake in Netflix, Inc. (NASDAQ:NFLX) by 11.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,690 shares of the Internet television network’s stock after selling 2,600 shares during the period. Illinois Municipal Retirement Fund’s holdings in Netflix were worth $13,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Precision Wealth Strategies LLC lifted its holdings in shares of Netflix by 3.5% in the 4th quarter. Precision Wealth Strategies LLC now owns 2,444 shares of the Internet television network’s stock worth $1,190,000 after buying an additional 83 shares during the period. Gilbert & Cook Inc. increased its position in Netflix by 5.9% during the 4th quarter. Gilbert & Cook Inc. now owns 2,177 shares of the Internet television network’s stock valued at $1,060,000 after purchasing an additional 121 shares during the period. Aveo Capital Partners LLC lifted its position in shares of Netflix by 6.9% in the 4th quarter. Aveo Capital Partners LLC now owns 667 shares of the Internet television network’s stock worth $325,000 after purchasing an additional 43 shares during the period. Gryphon Financial Partners LLC boosted its stake in shares of Netflix by 20.4% during the fourth quarter. Gryphon Financial Partners LLC now owns 3,971 shares of the Internet television network’s stock valued at $1,933,000 after purchasing an additional 674 shares in the last quarter. Finally, NBC Securities Inc. increased its holdings in Netflix by 3.7% during the fourth quarter. NBC Securities Inc. now owns 3,945 shares of the Internet television network’s stock valued at $1,920,000 after buying an additional 140 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NFLX has been the topic of several recent research reports. Evercore ISI increased their target price on Netflix from $710.00 to $750.00 and gave the company an “outperform” rating in a research report on Tuesday, August 27th. Citigroup raised their price objective on Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Rosenblatt Securities lifted their target price on Netflix from $554.00 to $635.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. increased their price target on shares of Netflix from $650.00 to $750.00 and gave the company an “overweight” rating in a research report on Friday, July 12th. Finally, StockNews.com downgraded shares of Netflix from a “buy” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $685.29.

Netflix Trading Down 2.6 %

Shares of Netflix stock opened at $665.77 on Friday. The firm has a 50-day simple moving average of $659.89 and a two-hundred day simple moving average of $634.23. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $711.33. The company has a market cap of $286.95 billion, a P/E ratio of 46.20, a price-to-earnings-growth ratio of 1.44 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. The company had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. Netflix’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.29 earnings per share. As a group, equities analysts predict that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Insider Activity at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total transaction of $271,140.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Reed Hastings sold 25,074 shares of Netflix stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total value of $17,073,388.08. Following the sale, the chairman now directly owns 85 shares of the company’s stock, valued at $57,878.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Spencer Adam Neumann sold 433 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total value of $271,140.27. The disclosure for this sale can be found here. In the last quarter, insiders have sold 157,831 shares of company stock valued at $102,721,884. 1.76% of the stock is owned by company insiders.

Netflix 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.