The Manufacturers Life Insurance Company has increased its stake in Netflix, Inc. (NASDAQ:NFLX) by 1.4% during the fourth quarter, as per its latest Form 13F filing with the Securities and Exchange Commission. The firm now owns 320,138 shares of the Internet television network’s stock, valued at $285,345,000, representing 0.07% of Netflix.
Other hedge funds have also adjusted their stakes in Netflix. Pathway Financial Advisers LLC increased its stake by 82.4%, while Transce3nd LLC and Newton One Investments LLC established new positions in the stock. Pineridge Advisors LLC boosted its position by 4,000%, and Princeton Global Asset Management LLC increased its stake by 51.6%.
Institutional Ownership and Stock Performance
A significant 80.93% of Netflix’s stock is owned by hedge funds and other institutional investors. Netflix’s stock opened at $1,101.53 on Monday, with a 1-year low of $544.25 and a 1-year high of $1,106.80. The company has a market capitalization of $468.78 billion and a PE ratio of 55.55.
Recent Earnings and Analyst Ratings
Netflix recently reported $6.61 earnings per share for the quarter, beating analysts’ consensus estimates of $5.74. The company had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. Several analysts have commented on NFLX shares, with Piper Sandler setting a $1,150.00 price target and giving the company an “overweight” rating. Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,072.12.
Insider Transactions
In other news, CEO Gregory K. Peters sold 102,228 shares of Netflix stock in January, reducing his position by 88.76%. Other insiders also sold shares, with a total of 273,855 shares valued at $267,474,816 sold in the last ninety days. Corporate insiders own 1.76% of the company’s stock.
