Commonwealth Retirement Investments LLC Makes New Investment in Netflix, Inc. (NASDAQ:NFLX)

Commonwealth Retirement Investments LLC bought a new stake in Netflix, Inc. (NASDAQ:NFLX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 261 shares of the Internet television network’s stock, valued at approximately $233,000.

Other institutional investors have also made changes to their positions in the company. State Street Corp increased its position in 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 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 purchasing an additional 123,029 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Netflix by 0.5% in the third 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 in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Netflix by 2.8% in the third quarter. Fisher Asset Management LLC now owns 4,481,939 shares of the Internet television network’s stock valued at $3,178,905,000 after purchasing an additional 123,987 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Insider Activity at Netflix

In other news, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the transaction, the chairman now directly owns 114 shares of the company’s stock, valued at $102,212.40. This trade represents a 99.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory K. Peters sold 4,939 shares of Netflix stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total transaction of $5,087,170.00. Following the completion of the sale, the chief executive officer now owns 12,950 shares in the company, valued at $13,338,500. This trade represents a 27.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 303,220 shares of company stock valued at $289,856,164. 1.76% of the stock is owned by insiders.

Netflix Stock Down 1.5 %

Shares of NFLX stock opened at $988.47 on Tuesday. The company has a market capitalization of $422.82 billion, a price-to-earnings ratio of 49.85, a P/E/G ratio of 2.12 and a beta of 1.27. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50. The firm has a fifty day moving average of $941.89 and a 200-day moving average of $823.89. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.20 by $0.07. The firm 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 company’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the business posted $2.11 EPS. As a group, equities research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on NFLX. Piper Sandler reaffirmed 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. Barclays raised Netflix from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $715.00 to $900.00 in a research note on Wednesday, January 22nd. Canaccord Genuity Group upgraded Netflix from a “hold” rating to a “buy” rating and raised their price target for the company from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. Bank of America boosted their price objective on Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $1,175.00 target price (up previously from $1,000.00) on shares of Netflix in a research note on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,021.70.

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.