Caisse de depot et placement du Quebec Invests $157.56 Million in Netflix, Inc. $NFLX

Caisse de depot et placement du Quebec acquired a new position in shares of Netflix, Inc. (NASDAQ:NFLX) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 2,206,781 shares of the Internet television network’s stock, valued at approximately $157,564,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Turning Point Benefit Group Inc. lifted its stake in Netflix by 13,400.0% in the 4th quarter. Turning Point Benefit Group Inc. now owns 270 shares of the Internet television network’s stock valued at $25,000 after purchasing an additional 268 shares during the last quarter. Imprint Wealth LLC acquired a new position in shares of Netflix during the third quarter worth $25,000. Cornerstone Financial Management LLC bought a new position in shares of Netflix in the 4th quarter valued at $26,000. Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of Netflix during the 2nd quarter valued at $26,000. Finally, Atlas Capital Advisors Inc. bought a new stake in Netflix during the 4th quarter worth $26,000. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

Shares of Netflix stock opened at $81.46 on Thursday. The business has a 50-day simple moving average of $74.51 and a 200 day simple moving average of $84.37. The firm has a market capitalization of $339.19 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 1.03 and a beta of 1.52. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 1.14. Netflix, Inc. has a one year low of $65.08 and a one year high of $126.71.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, July 16th. The Internet television network reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. The firm had revenue of $12.56 billion during the quarter, compared to analysts’ expectations of $12.58 billion. Netflix had a return on equity of 40.02% and a net margin of 28.22%.The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 earnings per share. On average, research analysts anticipate that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.

Key Stories Impacting Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Wolfe Research raised its Netflix price target to $95 from $84, arguing that viewer-engagement concerns are overstated and that an improving second-half content slate could help the shares. Jim Cramer separately called the stock a tactical buying opportunity after its recent decline. Netflix is primed to move higher as viewer engagement improves, Wolfe Research says
• Positive Sentiment: Netflix is reportedly exploring a broader streaming-subscription hub that could allow customers to sign up for third-party services such as Peacock and Fox One. The strategy could increase convenience, subscription-related revenue, and customer retention. Netflix Stock Climbs on Plans to Become Streaming Subscription Hub
• Positive Sentiment: Expanded NFL-related content and access to rival streaming programming could give Netflix more opportunities to grow its advertising business by increasing engagement and the value of its ad-supported tier. Netflix Stock: NFL Growth and Rival Streaming Access Could Grow Its Ad Business
• Neutral Sentiment: Reports point to an upcoming Netflix preview tied to Grand Theft Auto VI. The event could generate attention and short-term engagement, but its direct financial impact on Netflix is unclear. Dear Netflix Stock Fans, Mark Your Calendars for August 27
• Negative Sentiment: Industry data indicates that streaming price increases are slowing, while premium ad-free plans have received larger hikes than ad-supported tiers. This could limit Netflix’s pricing power and revenue growth if consumers resist further increases. 3-Year Streaming Outlook: Slowing Down Pricing Hikes
• Negative Sentiment: Some investor commentary remains cautious, noting that Netflix’s strong business performance has not consistently translated into share-price momentum and that the recent rebound case may already be reflected in expectations. Here’s the Test, Says Investor About Netflix Stock

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Sanford C. Bernstein set a $95.00 target price on Netflix and gave the company an “outperform” rating in a research report on Friday, July 17th. Citigroup restated a “market perform” rating on shares of Netflix in a report on Monday, August 17th. Pivotal Research lowered their price objective on Netflix from $96.00 to $70.00 and set a “hold” rating for the company in a research note on Friday, July 17th. Wedbush cut their target price on shares of Netflix from $118.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, July 17th. Finally, Barclays reduced their target price on shares of Netflix from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Friday, July 17th. Four research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, seventeen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $103.19.

Insiders Place Their Bets

In other news, CFO Spencer Adam Neumann sold 9,248 shares of Netflix stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $75.79, for a total transaction of $700,905.92. Following the completion of the transaction, the chief financial officer directly owned 73,787 shares in the company, valued at $5,592,316.73. This trade represents a 11.14% 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 2,160 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $75.10, for a total transaction of $162,216.00. Following the sale, the director directly owned 246 shares of the company’s stock, valued at approximately $18,474.60. The trade was a 89.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 600,295 shares of company stock worth $49,056,671 in the last quarter. Insiders own 1.24% of the company’s stock.

About Netflix

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.