Connor Clark & Lunn Investment Management Ltd. Acquires 7,436 Shares of Netflix, Inc. (NASDAQ:NFLX)

Connor Clark & Lunn Investment Management Ltd. raised its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 14.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,701 shares of the Internet television network's stock after purchasing an additional 7,436 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Netflix were worth $52,321,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NFLX. Proficio Capital Partners LLC boosted its position in shares of Netflix by 123,836.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network's stock valued at $1,716,662,000 after acquiring an additional 1,924,423 shares in the last quarter. State Street Corp raised its holdings in shares of Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network's stock valued at $12,023,082,000 after buying an additional 426,740 shares during the last quarter. Strategic Financial Concepts LLC lifted its position in Netflix by 112,896.4% during the 4th quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network's stock worth $340,420,000 after buying an additional 381,590 shares in the last quarter. Jennison Associates LLC grew its holdings in Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network's stock worth $4,958,417,000 after acquiring an additional 316,594 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in Netflix during the 3rd quarter worth about $222,871,000. Institutional investors own 80.93% of the company's stock.

Remove Ads

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 35,868 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the transaction, the chairman now owns 114 shares of the company's stock, valued at $101,241.12. The trade was a 99.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard N. Barton sold 6,364 shares of the company's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the completion of the sale, the director now owns 246 shares in the company, valued at $216,327.48. This represents a 96.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 288,103 shares of company stock valued at $279,142,041. Insiders own 1.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on NFLX shares. Wedbush reiterated an "outperform" rating and set a $1,150.00 target price (up from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Benchmark raised Netflix from a "sell" rating to a "hold" rating in a report on Wednesday, January 22nd. StockNews.com lowered Netflix from a "buy" rating to a "hold" rating in a research report on Tuesday, February 4th. Rosenblatt Securities raised Netflix from a "neutral" rating to a "buy" rating and upped their price target for the company from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on Netflix from $1,000.00 to $1,150.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 22nd. Ten research 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 company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,014.26.

Netflix Stock Down 3.2 %

NASDAQ:NFLX traded down $29.51 during trading hours on Thursday, reaching $890.17. 4,994,613 shares of the stock were exchanged, compared to its average volume of 3,413,573. The firm has a 50 day moving average of $950.30 and a 200 day moving average of $846.09. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a market cap of $380.78 billion, a PE ratio of 44.89, a PEG ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company's revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.11 EPS. On average, equities analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

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.