Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 30.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 881,697 shares of the Internet television network’s stock after selling 382,261 shares during the period. Netflix makes up about 0.7% of Canada Pension Plan Investment Board’s portfolio, making the stock its 29th largest holding. Canada Pension Plan Investment Board owned 0.21% of Netflix worth $785,874,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of NFLX. Principal Financial Group Inc. raised its stake in shares of Netflix by 13.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock worth $1,200,485,000 after buying an additional 198,148 shares during the period. M&T Bank Corp increased its holdings in Netflix by 4.2% in the 3rd quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after acquiring an additional 1,684 shares in the last quarter. McIlrath & Eck LLC raised its position in Netflix by 13.8% during the third quarter. McIlrath & Eck LLC now owns 247 shares of the Internet television network’s stock worth $175,000 after acquiring an additional 30 shares during the period. Advisory Resource Group lifted its holdings in Netflix by 0.7% during the third quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network’s stock valued at $1,238,000 after purchasing an additional 12 shares in the last quarter. Finally, Virtu Financial LLC grew its position in shares of Netflix by 356.5% in the third quarter. Virtu Financial LLC now owns 13,879 shares of the Internet television network’s stock valued at $9,844,000 after purchasing an additional 10,839 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Trading Down 1.5 %

NFLX opened at $961.63 on Thursday. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The business has a fifty day simple moving average of $956.66 and a 200-day simple moving average of $888.16. The firm has a market cap of $411.34 billion, a P/E ratio of 48.49, a P/E/G ratio of 2.12 and a beta of 1.55.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping 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 return on equity of 38.32% and a net margin of 22.34%. Netflix’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.11 EPS. On average, equities analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analysts Set New Price Targets

NFLX has been the subject of several research analyst reports. Wolfe Research upgraded shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price target for the company in a research report on Thursday, January 23rd. Piper Sandler reissued an “overweight” rating and set a $1,100.00 target price (up previously from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Loop Capital reaffirmed a “hold” rating on shares of Netflix in a research note on Monday, March 24th. Seaport Res Ptn raised Netflix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Finally, Phillip Securities lowered Netflix from a “hold” rating to a “moderate sell” rating in a report on Friday, January 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $1,021.31.

Insider Activity

In other news, Director Jay C. Hoag sold 617 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total value of $604,481.07. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David A. Hyman sold 41,121 shares of Netflix stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $979.01, for a total value of $40,257,870.21. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $30,946,506.10. This trade represents a 56.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 274,312 shares of company stock valued at $267,919,297. 1.76% 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.