Connor Clark & Lunn Investment Management Ltd. Sells 3,540 Shares of Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its holdings in Netflix by 6.0% by selling 3,540 shares, bringing their total ownership to 55,161 shares valued at approximately $51.4 million.
• Institutional investors hold 80.93% of Netflix's stock, with significant stake increases from firms like GAMMA Investing LLC, which raised its shareholding by over 109,000%.
• Netflix's stock has experienced analyst upgrades, with twenty-two buy ratings and a current consensus target price of $1,297.66, reflecting a positive outlook from the market.

Connor Clark & Lunn Investment Management Ltd. lowered its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 6.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,161 shares of the Internet television network's stock after selling 3,540 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Netflix were worth $51,439,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NFLX. GAMMA Investing LLC increased its stake in Netflix by 109,524.3% in the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock valued at $8,239,576,000 after acquiring an additional 8,827,662 shares during the period. Goldman Sachs Group Inc. boosted its position in Netflix by 57.3% in the first quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network's stock valued at $3,164,134,000 after buying an additional 1,236,251 shares in the last quarter. Northern Trust Corp boosted its position in Netflix by 14.3% in the fourth quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock valued at $4,076,903,000 after buying an additional 570,674 shares in the last quarter. Vanguard Group Inc. boosted its position in Netflix by 1.4% in the first quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network's stock valued at $35,433,585,000 after buying an additional 509,255 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its position in Netflix by 935.7% in the fourth quarter. Two Sigma Advisers LP now owns 461,900 shares of the Internet television network's stock valued at $411,701,000 after buying an additional 417,300 shares in the last quarter. Institutional investors own 80.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Cfra Research upgraded shares of Netflix to a "strong-buy" rating in a research report on Monday, April 28th. Moffett Nathanson restated a "buy" rating and issued a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Macquarie upped their target price on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a research report on Monday, April 21st. Robert W. Baird upped their target price on shares of Netflix from $1,300.00 to $1,500.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Finally, JPMorgan Chase & Co. upped their target price on shares of Netflix from $1,230.00 to $1,300.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Netflix presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,297.66.

Netflix Stock Up 2.6%

Shares of NASDAQ:NFLX opened at $1,211.64 on Friday. Netflix, Inc. has a 52 week low of $622.99 and a 52 week high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market capitalization of $514.86 billion, a PE ratio of 51.63, a PEG ratio of 1.99 and a beta of 1.59. The company has a 50 day moving average price of $1,232.25 and a two-hundred day moving average price of $1,093.48.

Netflix (NASDAQ:NFLX - Get Free Report) last issued 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 business had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm's quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the business posted $4.88 earnings per share. Analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Activity at Netflix

In related news, Director Jay C. Hoag sold 31,750 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the completion of the transaction, the director directly owned 63,040 shares of the company's stock, valued at approximately $78,948,144. This represents a 33.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Reed Hastings sold 26,933 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $1,211.66, for a total transaction of $32,633,638.78. Following the completion of the transaction, the director directly owned 394 shares of the company's stock, valued at approximately $477,394.04. The trade was a 98.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 150,226 shares of company stock valued at $183,849,784 in the last quarter. 1.37% of the stock is currently owned by company 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.

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