Connor Clark & Lunn Investment Management Ltd. Makes New $20.25 Million Investment in Netflix, Inc. $NFLX

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Netflix, Inc. (NASDAQ:NFLXFree Report) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 283,674 shares of the Internet television network’s stock, valued at approximately $20,254,000.

Several other institutional investors have also recently made changes to their positions in the company. Turning Point Benefit Group Inc. lifted its position in Netflix by 13,400.0% during the fourth quarter. Turning Point Benefit Group Inc. now owns 270 shares of the Internet television network’s stock valued at $25,000 after buying an additional 268 shares during the period. Imprint Wealth LLC purchased a new stake in Netflix in the third quarter worth about $25,000. Cornerstone Financial Management LLC bought a new position in shares of Netflix during the fourth quarter valued at approximately $26,000. Atlas Capital Advisors Inc. purchased a new position in shares of Netflix during the fourth quarter valued at approximately $26,000. Finally, Jessup Wealth Management Inc bought a new stake in shares of Netflix in the 4th quarter worth approximately $27,000. Institutional investors own 80.93% of the company’s stock.

Insiders Place Their Bets

In other Netflix news, CFO Spencer Adam Neumann sold 9,248 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $75.79, for a total transaction of $700,905.92. Following the completion of the sale, the chief financial officer directly owned 73,787 shares in the company, valued at $5,592,316.73. The trade was a 11.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Theodore A. Sarandos sold 105,850 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $73.03, for a total transaction of $7,730,225.50. Following the completion of the transaction, the chief executive officer owned 206,266 shares in the company, valued at $15,063,605.98. This trade represents a 33.91% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 600,295 shares of company stock valued at $49,056,671. 1.24% of the stock is currently owned by company insiders.

More Netflix News

Here are the key news stories impacting Netflix this week:

Netflix Price Performance

Shares of NFLX opened at $82.23 on Wednesday. The firm has a market cap of $342.40 billion, a PE ratio of 25.88, a P/E/G ratio of 1.00 and a beta of 1.52. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.39. The firm has a fifty day simple moving average of $74.42 and a two-hundred day simple moving average of $84.36. Netflix, Inc. has a 1-year low of $65.08 and a 1-year high of $126.71.

Netflix (NASDAQ:NFLXGet Free Report) last released its quarterly earnings results on Thursday, July 16th. The Internet television network reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. Netflix had a return on equity of 40.02% and a net margin of 28.22%.The firm had revenue of $12.56 billion for the quarter, compared to the consensus estimate of $12.58 billion. During the same period last year, the business posted $0.72 EPS. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, equities analysts anticipate that Netflix, Inc. will post 3.59 EPS for the current year.

Wall Street Analysts Forecast Growth

NFLX has been the subject of a number of analyst reports. Phillip Securities raised Netflix from a “moderate buy” rating to a “strong-buy” rating in a research report on Sunday, July 19th. Raymond James Financial reaffirmed a “market perform” rating on shares of Netflix in a research report on Thursday, May 14th. CLSA began coverage on shares of Netflix in a research note on Monday, July 20th. They set an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft set a $110.00 target price on shares of Netflix in a research note on Monday, July 20th. Finally, Seaport Research Partners lowered shares of Netflix from a “buy” rating to a “neutral” rating in a report on Monday, July 20th. Four research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, seventeen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.19.

View Our Latest Stock Analysis on Netflix

About Netflix

(Free Report)

Netflix, Inc (NASDAQ: NFLX) is a global entertainment company that provides subscription-based streaming of films, television series, documentaries and other video content. Founded in 1997 by Reed Hastings and Marc Randolph and headquartered in Los Gatos, California, the company began as a DVD-by-mail rental service and introduced streaming video in 2007. Netflix later expanded into producing and distributing original programming, beginning notable original hits in the 2010s, and now operates a content production and distribution ecosystem alongside its licensing activity.

The company’s primary product is its on-demand streaming service, which can be accessed on a wide range of internet-connected devices and delivered through a suite of apps and web platforms.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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