Canada Pension Plan Investment Board Decreases Stake in Netflix, Inc. (NASDAQ:NFLX)

Canada Pension Plan Investment Board lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 6.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,248,207 shares of the Internet television network’s stock after selling 87,266 shares during the period. Netflix makes up approximately 0.8% of Canada Pension Plan Investment Board’s portfolio, making the stock its 20th biggest holding. Canada Pension Plan Investment Board owned 0.29% of Netflix worth $842,390,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of NFLX. Davidson Capital Management Inc. grew its position in Netflix by 35,392.3% during the second quarter. Davidson Capital Management Inc. now owns 4,614 shares of the Internet television network’s stock worth $3,114,000 after buying an additional 4,601 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Netflix by 9.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 9,227 shares of the Internet television network’s stock worth $6,228,000 after acquiring an additional 766 shares in the last quarter. Trust Investment Advisors acquired a new stake in shares of Netflix in the 2nd quarter worth approximately $200,000. Ieq Capital LLC increased its stake in Netflix by 15.3% in the 2nd quarter. Ieq Capital LLC now owns 53,677 shares of the Internet television network’s stock valued at $36,226,000 after purchasing an additional 7,119 shares in the last quarter. Finally, ProVise Management Group LLC raised its holdings in Netflix by 29.3% during the second quarter. ProVise Management Group LLC now owns 508 shares of the Internet television network’s stock worth $343,000 after purchasing an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling at Netflix

In other news, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total transaction of $271,140.27. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Chairman Reed Hastings sold 22,526 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $670.49, for a total value of $15,103,457.74. Following the completion of the transaction, the chairman now owns 57 shares of the company’s stock, valued at $38,217.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The disclosure for this sale can be found here. Insiders sold 196,798 shares of company stock valued at $129,552,672 over the last 90 days. 1.76% of the stock is owned by corporate insiders.

Netflix Stock Up 2.0 %

Shares of NASDAQ NFLX opened at $704.32 on Friday. The stock has a fifty day moving average price of $661.93 and a 200 day moving average price of $639.96. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix, Inc. has a 12-month low of $344.73 and a 12-month high of $715.66. The company has a market cap of $303.56 billion, a P/E ratio of 48.88, a P/E/G ratio of 1.40 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The business had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.29 earnings per share. Research analysts anticipate that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NFLX. Bank of America upped their target price on Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a report on Monday, July 15th. China Renaissance assumed coverage on shares of Netflix in a research report on Thursday, September 5th. They issued a “hold” rating and a $680.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on shares of Netflix from $650.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, July 12th. Redburn Atlantic increased their price target on shares of Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, Piper Sandler raised their price objective on shares of Netflix from $600.00 to $650.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, Netflix has a consensus rating of “Moderate Buy” and an average price target of $685.29.

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.