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

Canada Pension Plan Investment Board raised its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 222.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 648,227 shares of the Internet television network’s stock after acquiring an additional 446,910 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Netflix were worth $338,154,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Zimmer Partners LP purchased a new stake in shares of Netflix during the 1st quarter valued at approximately $41,733,000. Point72 Asset Management L.P. grew its position in shares of Netflix by 102.5% in the first quarter. Point72 Asset Management L.P. now owns 226,531 shares of the Internet television network’s stock valued at $118,172,000 after purchasing an additional 114,691 shares in the last quarter. Scholtz & Company LLC bought a new stake in shares of Netflix during the 1st quarter valued at $1,909,000. Eaton Vance Management lifted its holdings in Netflix by 12.8% during the 1st quarter. Eaton Vance Management now owns 536,144 shares of the Internet television network’s stock worth $279,684,000 after purchasing an additional 60,956 shares in the last quarter. Finally, Evercore Wealth Management LLC grew its holdings in Netflix by 1.6% during the 1st quarter. Evercore Wealth Management LLC now owns 4,378 shares of the Internet television network’s stock valued at $2,284,000 after buying an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 79.75% of the company’s stock.

Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $590.00 target price (up from $575.00) on shares of Netflix in a research note on Wednesday. Wedbush reissued an “underperform” rating and set a $342.00 price objective on shares of Netflix in a research note on Wednesday. Wolfe Research lowered their price target on Netflix from $640.00 to $630.00 and set an “outperform” rating on the stock in a report on Wednesday, April 21st. UBS Group upped their price objective on shares of Netflix from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, July 15th. Finally, Truist dropped their target price on shares of Netflix from $630.00 to $600.00 in a research report on Wednesday, April 21st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $610.23.

NFLX traded down $5.68 during trading on Thursday, reaching $507.95. The stock had a trading volume of 161,757 shares, compared to its average volume of 3,300,341. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $225.23 billion, a P/E ratio of 53.23, a price-to-earnings-growth ratio of 1.65 and a beta of 0.74. The firm’s 50 day simple moving average is $511.07. Netflix, Inc. has a one year low of $458.60 and a one year high of $593.29.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, July 19th. The Internet television network reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.19). The business had revenue of $7.34 billion for the quarter, compared to analysts’ expectations of $7.32 billion. Netflix had a net margin of 15.92% and a return on equity of 38.43%. The company’s revenue was up 19.4% on a year-over-year basis. During the same period last year, the business earned $1.59 earnings per share. Research analysts predict that Netflix, Inc. will post 10.5 EPS for the current year.

In related news, Director Jay C. Hoag sold 2,639 shares of the firm’s stock in a transaction that occurred on Tuesday, May 11th. The shares were sold at an average price of $491.30, for a total transaction of $1,296,540.70. Following the completion of the sale, the director now owns 1,309 shares of the company’s stock, valued at $643,111.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.40% of the stock is currently owned by company insiders.

Netflix Company Profile

Netflix, Inc operates as a streaming entertainment service company. The firm provides subscription service streaming movies and television episodes over the Internet and sending DVDs by mail. It operates through the following segments: Domestic Streaming, International Streaming and Domestic DVD. The Domestic Streaming segment derives revenues from monthly membership fees for services consisting of streaming content to its members in the United States.

Read More: Elliott Wave Theory

Want to see what other hedge funds are holding NFLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Netflix, Inc. (NASDAQ:NFLX).

Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

Receive News & Ratings for Netflix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix and related companies with MarketBeat.com's FREE daily email newsletter.