State of Michigan Retirement System Reduces Position in Netflix, Inc. $NFLX

State of Michigan Retirement System decreased its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 27.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,163,190 shares of the Internet television network’s stock after selling 436,400 shares during the quarter. Netflix comprises 0.6% of State of Michigan Retirement System’s holdings, making the stock its 28th biggest position. State of Michigan Retirement System’s holdings in Netflix were worth $111,841,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Financial Corp IN increased its position in shares of Netflix by 900.0% in the 4th quarter. First Financial Corp IN now owns 270 shares of the Internet television network’s stock valued at $25,000 after acquiring an additional 243 shares during the period. DiNuzzo Private Wealth Inc. lifted its position in Netflix by 885.2% during the 4th quarter. DiNuzzo Private Wealth Inc. now owns 266 shares of the Internet television network’s stock worth $25,000 after acquiring an additional 239 shares during the period. Turning Point Benefit Group Inc. grew its stake in Netflix by 13,400.0% during the 4th quarter. Turning Point Benefit Group Inc. now owns 270 shares of the Internet television network’s stock valued at $25,000 after purchasing an additional 268 shares during the last quarter. Imprint Wealth LLC purchased a new stake in Netflix during the 3rd quarter valued at about $25,000. Finally, Cornerstone Financial Management LLC acquired a new position in shares of Netflix in the fourth quarter valued at about $26,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

NFLX has been the subject of several research analyst reports. Daiwa Securities Group raised their price objective on Netflix from $97.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. HSBC upped their target price on Netflix from $106.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, April 10th. UBS Group set a $100.00 price target on shares of Netflix in a report on Monday. Moffett Nathanson reduced their price target on shares of Netflix from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, June 17th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Netflix in a research note on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $112.51.

Netflix Stock Performance

Shares of NFLX stock opened at $73.83 on Tuesday. The stock has a market cap of $310.88 billion, a PE ratio of 23.85, a price-to-earnings-growth ratio of 0.93 and a beta of 1.52. The business has a 50-day simple moving average of $81.38 and a 200-day simple moving average of $87.45. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.43. Netflix, Inc. has a 52-week low of $70.86 and a 52-week high of $127.75.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, April 16th. The Internet television network reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.47. The firm had revenue of $12.25 billion for the quarter, compared to the consensus estimate of $12.17 billion. Netflix had a return on equity of 40.92% and a net margin of 28.52%.The company’s revenue was up 16.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.61 earnings per share. Netflix has set its Q2 2026 guidance at 0.780-0.780 EPS. On average, equities analysts expect that Netflix, Inc. will post 3.6 EPS for the current year.

Netflix News Roundup

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Several analysts remain constructive on Netflix heading into earnings, with TD Cowen, JPMorgan, Wedbush and others pointing to solid profit growth, expanding ad revenue, better ad pricing and stronger content in the second half of the year. Article Title
• Positive Sentiment: Options traders are betting on a comeback quarter, suggesting some market participants expect Netflix to beat subdued expectations after the stock’s sharp decline and low valuation. Article Title
• Positive Sentiment: Retail and value investors appear to be rotating back into NFLX because the shares have dropped to multi-year lows, making the stock look cheaper relative to growth and free-cash-flow potential. Article Title
• Neutral Sentiment: Netflix also announced an exclusive live stream of MLB’s Home Run Derby, reinforcing its push into live sports and event programming, but the near-term stock impact is likely limited unless it shows broader engagement benefits. Article Title
• Negative Sentiment: Some firms, including KeyBanc and Oppenheimer, trimmed price targets and warned the Q2 report may be only “largely in line,” reflecting lingering concerns about subscriber engagement, content costs and whether advertising can offset weaker sentiment. Article Title
• Negative Sentiment: Multiple reports note that NFLX has fallen sharply from recent highs and that Wall Street expects a tough quarter, so expectations remain fragile and the stock could swing if results or guidance disappoint. Article Title

Insider Buying and Selling

In other Netflix news, Director Reed Hastings sold 407,550 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $93.13, for a total value of $37,955,131.50. Following the sale, the director owned 3,940 shares in the company, valued at approximately $366,932.20. This represents a 99.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Spencer Adam Neumann sold 9,253 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $88.95, for a total transaction of $823,054.35. Following the sale, the chief financial officer directly owned 73,787 shares in the company, valued at $6,563,353.65. The trade was a 11.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 899,839 shares of company stock valued at $80,141,661 in the last three months. 1.24% of the stock is currently owned by company insiders.

Netflix Company Profile

Netflix, Inc (NASDAQ: NFLX) is a global entertainment company that provides subscription-based streaming of films, television series, documentaries and other video content. Founded in 1997 by Reed Hastings and Marc Randolph and headquartered in Los Gatos, California, the company began as a DVD-by-mail rental service and introduced streaming video in 2007. Netflix later expanded into producing and distributing original programming, beginning notable original hits in the 2010s, and now operates a content production and distribution ecosystem alongside its licensing activity.

The company’s primary product is its on-demand streaming service, which can be accessed on a wide range of internet-connected devices and delivered through a suite of apps and web platforms.