CANADA LIFE ASSURANCE Co Has $506.11 Million Position in Netflix, Inc. (NASDAQ:NFLX)

CANADA LIFE ASSURANCE Co decreased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 1.6% during the 4th quarter, HoldingsChannel reports. The firm owned 568,223 shares of the Internet television network’s stock after selling 9,399 shares during the quarter. Netflix comprises approximately 0.9% of CANADA LIFE ASSURANCE Co’s holdings, making the stock its 18th largest position. CANADA LIFE ASSURANCE Co’s holdings in Netflix were worth $506,112,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Pathway Financial Advisers LLC raised its position in shares of Netflix by 82.4% in the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 14 shares in the last quarter. Newton One Investments LLC purchased a new position in shares of Netflix in the fourth quarter worth about $34,000. Pineridge Advisors LLC boosted its stake in Netflix by 4,000.0% in the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after purchasing an additional 40 shares during the period. Princeton Global Asset Management LLC increased its holdings in shares of Netflix by 51.6% in the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock worth $42,000 after purchasing an additional 16 shares during the period. Finally, Decker Retirement Planning Inc. purchased a new position in Netflix in the 4th quarter worth approximately $43,000. Institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NFLX. Pivotal Research boosted their price objective on Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft raised their price objective on Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a research report on Wednesday, January 22nd. Barclays upgraded Netflix from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $715.00 to $900.00 in a research note on Wednesday, January 22nd. FBN Securities started coverage on shares of Netflix in a research report on Thursday, March 27th. They issued an “outperform” rating and a $1,165.00 target price for the company. Finally, Morgan Stanley upped their price target on Netflix from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,021.31.

Netflix Price Performance

NFLX stock opened at $961.63 on Thursday. Netflix, Inc. has a 52-week low of $542.01 and a 52-week high of $1,064.50. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock has a market cap of $411.34 billion, a price-to-earnings ratio of 48.49, a price-to-earnings-growth ratio of 2.12 and a beta of 1.55. The business has a fifty day moving average of $956.66 and a two-hundred day moving average of $888.16.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same period in the previous year, the firm posted $2.11 earnings per share. The company’s revenue was up 16.0% on a year-over-year basis. As a group, research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 25,360 shares of Netflix stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total value of $23,360,364.00. Following the transaction, the chairman now directly owns 394 shares in the company, valued at approximately $362,933.10. This trade represents a 98.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jay C. Hoag sold 617 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $979.71, for a total transaction of $604,481.07. The disclosure for this sale can be found here. Insiders sold 274,312 shares of company stock valued at $267,919,297 over the last three months. 1.76% of the stock is owned by corporate insiders.

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.