Great Lakes Retirement Inc. Lowers Stake in Netflix, Inc. (NASDAQ:NFLX)

Great Lakes Retirement Inc. reduced its stake in Netflix, Inc. (NASDAQ:NFLX) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,855 shares of the Internet television network’s stock after selling 84 shares during the period. Great Lakes Retirement Inc.’s holdings in Netflix were worth $4,327,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp raised 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 valued at $12,023,082,000 after purchasing an additional 426,740 shares in the last quarter. Geode Capital Management LLC raised its stake in Netflix by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after buying an additional 123,029 shares in the last quarter. Jennison Associates LLC raised its stake in Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after buying an additional 316,594 shares in the last quarter. International Assets Investment Management LLC boosted its position in Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after acquiring an additional 5,748,200 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Netflix by 0.5% in 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 acquiring an additional 23,702 shares during the period. Institutional investors own 80.93% of the company’s stock.

Insider Transactions at Netflix

In other news, Director Strive Masiyiwa sold 2,813 shares of Netflix stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $1,007.87, for a total transaction of $2,835,138.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anne M. Sweeney sold 589 shares of Netflix stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total transaction of $518,320.00. The disclosure for this sale can be found here. Insiders sold 303,809 shares of company stock worth $290,374,484 over the last 90 days. 1.76% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NFLX. Loop Capital boosted their price objective on shares of Netflix from $925.00 to $1,000.00 and gave the stock a “hold” rating in a research note on Wednesday, January 22nd. Piper Sandler reissued an “overweight” rating and set a $1,100.00 target price (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Rosenblatt Securities upgraded 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 note on Wednesday, January 22nd. Barclays upgraded Netflix from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $715.00 to $900.00 in a research report on Wednesday, January 22nd. Finally, Needham & Company LLC upped their price objective on Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Netflix has a consensus rating of “Moderate Buy” and an average target price of $1,021.70.

Netflix Stock Down 1.9 %

Shares of NASDAQ NFLX opened at $1,008.08 on Wednesday. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,032.85. The business’s fifty day simple moving average is $919.96 and its 200-day simple moving average is $795.06. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock has a market cap of $431.22 billion, a P/E ratio of 50.84, a PEG ratio of 2.11 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping 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 business had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same period last year, the firm posted $2.11 earnings per share. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, equities analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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.