Netflix, Inc. $NFLX Shares Sold by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. reduced its stake in Netflix by 3.9%, selling 5,648 shares and now holding 139,549 shares, accounting for approximately 0.7% of its portfolio.
• Analysts have issued mixed ratings for Netflix, with Citigroup maintaining a "neutral" rating and others like Cfra Research upgrading it to "strong-buy," reflecting a varied outlook on the stock's performance.
• Netflix's stock opened at $1,204.65, with a market cap of $511.89 billion and a recent quarterly earnings report showing an EPS of $7.19, exceeding analysts' estimates.

Corebridge Financial Inc. lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 3.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 139,549 shares of the Internet television network's stock after selling 5,648 shares during the period. Netflix accounts for approximately 0.7% of Corebridge Financial Inc.'s portfolio, making the stock its 15th biggest holding. Corebridge Financial Inc.'s holdings in Netflix were worth $130,134,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in NFLX. Halbert Hargrove Global Advisors LLC boosted its stake in shares of Netflix by 100.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after acquiring an additional 13 shares during the last quarter. Brown Shipley& Co Ltd acquired a new stake in shares of Netflix during the fourth quarter valued at $27,000. Copia Wealth Management acquired a new stake in shares of Netflix during the fourth quarter valued at $37,000. Stuart Chaussee & Associates Inc. boosted its stake in shares of Netflix by 4,500.0% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock valued at $41,000 after acquiring an additional 45 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Netflix during the first quarter valued at $42,000. Institutional investors and hedge funds own 80.93% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on NFLX. Citigroup reaffirmed a "neutral" rating and set a $1,250.00 price objective (up previously from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Pivotal Research reiterated a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. Barclays reiterated a "sell" rating and set a $1,100.00 target price (up from $1,000.00) on shares of Netflix in a research report on Wednesday, July 9th. Jefferies Financial Group reiterated a "buy" rating on shares of Netflix in a research report on Tuesday, August 12th. Finally, Cfra Research upgraded Netflix to a "strong-buy" rating in a research report on Monday, April 28th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, Netflix has an average rating of "Moderate Buy" and a consensus price target of $1,297.66.

Netflix Stock Performance

Netflix stock opened at $1,204.65 on Monday. The stock's 50-day moving average is $1,231.41 and its 200-day moving average is $1,111.65. The company has a market cap of $511.89 billion, a price-to-earnings ratio of 51.33, a price-to-earnings-growth ratio of 2.03 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34. Netflix, Inc. has a 12 month low of $660.80 and a 12 month high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping analysts' consensus estimates of $7.07 by $0.12. The company had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The company's quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the business posted $4.88 EPS. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. Equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Transactions at Netflix

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total value of $3,400,079.22. Following the transaction, the chief financial officer directly owned 3,691 shares in the company, valued at $4,824,949.02. This trade represents a 41.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gregory K. Peters sold 2,026 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $1,157.44, for a total value of $2,344,973.44. Following the completion of the transaction, the chief executive officer owned 12,781 shares in the company, valued at approximately $14,793,240.64. This trade represents a 13.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 146,307 shares of company stock valued at $179,443,809. 1.37% of the stock is owned by company insiders.

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.

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