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

Corebridge Financial Inc. increased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 145,197 shares of the Internet television network's stock after buying an additional 1,815 shares during the quarter. Netflix accounts for approximately 0.7% of Corebridge Financial Inc.'s holdings, 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 quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NFLX. West Michigan Advisors LLC raised its holdings in shares of Netflix by 1.3% during the 4th quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network's stock worth $692,000 after buying an additional 10 shares in the last quarter. Warwick Investment Management Inc. grew its position in Netflix by 3.5% in the fourth quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network's stock valued at $266,000 after acquiring an additional 10 shares during the last quarter. MRP Capital Investments LLC grew its position in Netflix by 1.0% in the fourth quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network's stock valued at $938,000 after acquiring an additional 10 shares during the last quarter. Enzi Wealth raised its stake in Netflix by 3.4% during the fourth quarter. Enzi Wealth now owns 331 shares of the Internet television network's stock worth $316,000 after acquiring an additional 11 shares in the last quarter. Finally, TCI Wealth Advisors Inc. lifted its holdings in shares of Netflix by 1.6% in the fourth quarter. TCI Wealth Advisors Inc. now owns 700 shares of the Internet television network's stock worth $624,000 after acquiring an additional 11 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NFLX shares. 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 report on Wednesday, January 22nd. Piper Sandler reaffirmed an "overweight" rating and set a $1,100.00 target price (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Seaport Res Ptn upgraded Netflix from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 15th. Sanford C. Bernstein upgraded Netflix from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $975.00 to $1,200.00 in a research report on Friday, January 24th. Finally, Robert W. Baird upped their target price on Netflix from $875.00 to $1,200.00 and gave the stock an "outperform" rating in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,016.78.

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 35,868 shares of Netflix stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the completion of the transaction, the chairman now owns 114 shares in the company, valued at approximately $101,241.12. The trade was a 99.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Strive Masiyiwa sold 2,813 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total value of $2,835,138.31. The disclosure for this sale can be found here. In the last 90 days, insiders sold 288,583 shares of company stock valued at $279,611,567. 1.76% of the stock is owned by company insiders.

Netflix Stock Up 0.8 %

Shares of NASDAQ NFLX traded up $7.43 during trading on Thursday, hitting $978.08. 493,017 shares of the company traded hands, compared to its average volume of 3,479,403. 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 business's fifty day moving average is $967.54 and its 200 day moving average is $864.18. The firm has a market capitalization of $418.38 billion, a price-to-earnings ratio of 49.35, a P/E/G ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $1,064.50.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping analysts' consensus estimates of $4.20 by $0.07. The business had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm's revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.11 EPS. Equities research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.