Corebridge Financial Inc. Acquires 1,815 Shares of Netflix, Inc. (NASDAQ:NFLX)

Corebridge Financial Inc. grew its holdings in Netflix, Inc. (NASDAQ:NFLX) by 1.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 145,197 shares of the Internet television network’s stock after purchasing an additional 1,815 shares during the quarter. Netflix comprises about 0.7% of Corebridge Financial Inc.’s portfolio, making the stock its 14th biggest position. Corebridge Financial Inc.’s holdings in Netflix were worth $129,417,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Netflix by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock valued at $33,413,809,000 after buying an additional 171,712 shares during the period. State Street Corp increased its stake 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 valued at $12,023,082,000 after acquiring an additional 426,740 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Netflix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after acquiring an additional 123,029 shares during the period. Wellington Management Group LLP boosted its stake in Netflix by 0.5% during the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after acquiring an additional 23,702 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Netflix by 1.0% during the fourth quarter. Fisher Asset Management LLC now owns 4,527,446 shares of the Internet television network’s stock worth $4,035,404,000 after acquiring an additional 45,507 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

Netflix stock opened at $960.29 on Monday. The business’s 50 day simple moving average is $959.08 and its 200 day simple moving average is $859.06. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50. The company has a market cap of $410.77 billion, a price-to-earnings ratio of 48.43, a PEG ratio of 2.12 and a beta of 1.38. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same quarter in the prior year, the company earned $2.11 EPS. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. Sell-side analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Transactions at Netflix

In related news, CAO Jeffrey William Karbowski sold 160 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $1,000.00, for a total transaction of $160,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Gregory K. Peters sold 4,939 shares of Netflix stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the transaction, the chief executive officer now directly owns 12,950 shares of the company’s stock, valued at $13,338,500. The trade was a 27.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 288,103 shares of company stock worth $279,142,041 over the last quarter. Corporate insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NFLX. Piper Sandler reiterated an “overweight” rating and set a $1,100.00 price objective (up previously from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Rosenblatt Securities raised Netflix from a “neutral” rating to a “buy” rating and upped their price target for the stock from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. Moffett Nathanson raised Netflix from a “neutral” rating to a “buy” rating and raised their price objective for the company from $850.00 to $1,100.00 in a research note on Monday, March 17th. Canaccord Genuity Group raised Netflix from a “hold” rating to a “buy” rating and upped their target price for the stock from $940.00 to $1,150.00 in a research report on Wednesday, January 22nd. Finally, Needham & Company LLC lifted their price target on shares of Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,016.78.

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.