Connor Clark & Lunn Investment Management Ltd. Grows Stake in Netflix, Inc. (NASDAQ:NFLX)

Connor Clark & Lunn Investment Management Ltd. boosted its position in Netflix, Inc. (NASDAQ:NFLX) by 14.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 58,701 shares of the Internet television network’s stock after buying an additional 7,436 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Netflix were worth $52,321,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NFLX. Nordea Investment Management AB increased its position in Netflix by 22.7% during the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after buying an additional 156,958 shares in the last quarter. Haven Private LLC purchased a new position in Netflix during the fourth quarter worth $733,000. Charles Schwab Investment Management Inc. increased its position in Netflix by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock worth $1,829,494,000 after buying an additional 29,726 shares in the last quarter. Sigma Planning Corp increased its position in Netflix by 7.4% during the fourth quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock worth $4,966,000 after buying an additional 386 shares in the last quarter. Finally, Natixis Advisors LLC increased its position in Netflix by 2.0% during the third quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock worth $434,398,000 after buying an additional 11,921 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Up 2.7 %

Shares of NASDAQ NFLX opened at $919.68 on Thursday. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50. The firm has a market cap of $393.40 billion, a price-to-earnings ratio of 46.38, a PEG ratio of 2.12 and a beta of 1.38. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The stock’s 50-day simple moving average is $950.23 and its 200-day simple moving average is $845.78.

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 return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same period in the previous year, the company earned $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 anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on NFLX shares. Rosenblatt Securities raised Netflix from a “neutral” rating to a “buy” rating and raised their price target for the stock from $680.00 to $1,494.00 in a research report on Wednesday, January 22nd. StockNews.com cut Netflix from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Phillip Securities cut Netflix from a “hold” rating to a “moderate sell” rating in a report on Friday, January 24th. Guggenheim raised their price objective on Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Evercore ISI raised their price objective on Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Ten 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 data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and a consensus target price of $1,014.26.

Insider Transactions at Netflix

In related news, Director Strive Masiyiwa sold 2,813 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $1,007.87, for a total value of $2,835,138.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Reed Hastings sold 35,868 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total value of $31,853,653.44. Following the completion of the sale, the chairman now directly owns 114 shares of the company’s stock, valued at approximately $101,241.12. This represents a 99.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 288,103 shares of company stock valued at $279,142,041. 1.76% of the stock is currently owned by insiders.

Netflix Company 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.