Corebridge Financial Inc. Grows Position in Netflix, Inc. (NASDAQ:NFLX)

Corebridge Financial Inc. lifted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.3% in the 4th quarter, Holdings Channel reports. The firm owned 145,197 shares of the Internet television network’s stock after acquiring an additional 1,815 shares during the period. Netflix comprises 0.7% of Corebridge Financial Inc.’s investment portfolio, making the stock its 14th largest holding. Corebridge Financial Inc.’s holdings in Netflix were worth $129,417,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of NFLX. Vanguard Group Inc. increased its holdings in shares of Netflix by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock worth $33,413,809,000 after buying an additional 171,712 shares during the last quarter. State Street Corp boosted its holdings in shares of Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Netflix by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after purchasing an additional 123,029 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Netflix by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after purchasing an additional 23,702 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Netflix by 1.0% during the 4th quarter. Fisher Asset Management LLC now owns 4,527,446 shares of the Internet television network’s stock valued at $4,035,404,000 after buying an additional 45,507 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Netflix news, Chairman Reed Hastings sold 35,868 shares of Netflix stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total value of $31,853,653.44. Following the completion of the transaction, the chairman now directly owns 114 shares of the company’s stock, valued at approximately $101,241.12. The trade was a 99.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $982.05, for a total transaction of $2,554,312.05. Following the sale, the chief financial officer now owns 3,691 shares in the company, valued at approximately $3,624,746.55. The trade was a 41.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 288,103 shares of company stock worth $279,142,041 in the last quarter. Corporate insiders own 1.76% of the company’s stock.

Netflix Price Performance

NFLX stock opened at $960.29 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a 50 day moving average price of $959.08 and a 200-day moving average price of $859.06. Netflix, Inc. has a 52-week low of $542.01 and a 52-week high of $1,064.50. The firm has a market capitalization of $410.77 billion, a price-to-earnings ratio of 48.43, a PEG ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter in the previous year, the business earned $2.11 earnings per share. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. Equities research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on NFLX shares. Wedbush reiterated an “outperform” rating and set a $1,150.00 price target (up from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Benchmark upgraded shares of Netflix from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Guggenheim upped their price target on shares of Netflix from $950.00 to $1,100.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Rosenblatt Securities raised Netflix from a “neutral” rating to a “buy” rating and boosted their target price for the company from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. Finally, BMO Capital Markets restated an “outperform” rating and set a $1,175.00 price target (up from $1,000.00) on shares of Netflix in a research report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,016.78.

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.