Prudential Financial Inc. Has $410.73 Million Holdings in Netflix, Inc. (NASDAQ:NFLX)

Prudential Financial Inc. reduced its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 23.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 460,813 shares of the Internet television network's stock after selling 143,903 shares during the quarter. Netflix comprises about 0.6% of Prudential Financial Inc.'s investment portfolio, making the stock its 24th biggest position. Prudential Financial Inc. owned 0.11% of Netflix worth $410,732,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Interchange Capital Partners LLC raised its holdings in shares of Netflix by 4.8% in the 4th quarter. Interchange Capital Partners LLC now owns 1,052 shares of the Internet television network's stock worth $938,000 after purchasing an additional 48 shares during the period. Towercrest Capital Management acquired a new stake in Netflix during the 4th quarter worth approximately $212,000. Sheets Smith Investment Management purchased a new position in Netflix in the fourth quarter valued at approximately $1,293,000. Corebridge Financial Inc. lifted its position in Netflix by 1.3% during the fourth quarter. Corebridge Financial Inc. now owns 145,197 shares of the Internet television network's stock valued at $129,417,000 after buying an additional 1,815 shares in the last quarter. Finally, Congress Wealth Management LLC DE increased its position in shares of Netflix by 10.3% in the fourth quarter. Congress Wealth Management LLC DE now owns 18,924 shares of the Internet television network's stock worth $16,868,000 after acquiring an additional 1,771 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

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Netflix Stock Up 1.5 %

Shares of NFLX stock traded up $14.86 during trading on Thursday, hitting $985.51. 730,306 shares of the company were exchanged, compared to its average volume of 3,480,281. The firm has a market capitalization of $421.56 billion, a price-to-earnings ratio of 49.63, a P/E/G ratio of 2.12 and a beta of 1.38. 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 50-day simple moving average is $967.54 and its 200 day simple moving average is $864.18. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results 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 net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same quarter last year, the business posted $2.11 EPS. The company's revenue for the quarter was up 16.0% on a year-over-year basis. As a group, analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Netflix from $1,000.00 to $1,150.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. Rosenblatt Securities raised Netflix from a "neutral" rating to a "buy" rating and upped their target price for the stock from $680.00 to $1,494.00 in a research report on Wednesday, January 22nd. Evercore ISI raised their target price on Netflix from $950.00 to $1,100.00 and gave the company an "outperform" rating in a report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft boosted their price target on Netflix from $650.00 to $875.00 and gave the stock a "hold" rating in a research report on Wednesday, January 22nd. Finally, Pivotal Research lifted their price objective on shares of Netflix from $1,100.00 to $1,250.00 and gave the company a "buy" rating in a research note on Wednesday, January 22nd. Ten equities research 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. According to MarketBeat.com, Netflix currently has a consensus rating of "Moderate Buy" and an average price target of $1,016.78.

Insiders Place Their Bets

In related news, Director Richard N. Barton sold 6,364 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total value of $5,596,374.32. Following the transaction, the director now owns 246 shares in the company, valued at approximately $216,327.48. This represents a 96.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Jeffrey William Karbowski sold 480 shares of Netflix stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $986.75, for a total transaction of $473,640.00. The disclosure for this sale can be found here. Insiders have sold a total of 288,583 shares of company stock valued at $279,611,567 in the last three months. Insiders own 1.76% of the company's stock.

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.