Mackenzie Financial Corp Trims Stake in Netflix, Inc. (NASDAQ:NFLX)

Mackenzie Financial Corp reduced its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 54,017 shares of the Internet television network’s stock after selling 2,232 shares during the period. Mackenzie Financial Corp’s holdings in Netflix were worth $26,300,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NFLX. Norges Bank purchased a new stake in Netflix during the fourth quarter valued at approximately $1,501,762,000. Moneta Group Investment Advisors LLC boosted its position in shares of Netflix by 117,939.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,742,048 shares of the Internet television network’s stock worth $808,575,000 after purchasing an additional 2,739,725 shares during the period. International Assets Investment Management LLC boosted its position in shares of Netflix by 15,039.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock worth $1,010,553,000 after purchasing an additional 2,061,859 shares during the period. Alliancebernstein L.P. boosted its position in shares of Netflix by 202.7% in the second quarter. Alliancebernstein L.P. now owns 1,790,092 shares of the Internet television network’s stock worth $788,518,000 after purchasing an additional 1,198,774 shares during the period. Finally, Barclays PLC boosted its position in shares of Netflix by 113.1% in the second quarter. Barclays PLC now owns 1,869,385 shares of the Internet television network’s stock worth $823,446,000 after purchasing an additional 992,193 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Netflix news, insider David A. Hyman sold 47,574 shares of the stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $17,003,651.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Gregory K. Peters sold 13,655 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $543.80, for a total value of $7,425,589.00. Following the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $7,118,342. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David A. Hyman sold 47,574 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at $17,003,651.20. The disclosure for this sale can be found here. Insiders have sold a total of 268,335 shares of company stock worth $151,619,811 in the last three months. Corporate insiders own 2.45% of the company’s stock.

Wall Street Analysts Forecast Growth

NFLX has been the subject of a number of recent analyst reports. Seaport Res Ptn lowered shares of Netflix from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 30th. Barclays upped their price target on shares of Netflix from $475.00 to $550.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. TD Cowen upped their price target on shares of Netflix from $600.00 to $725.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. upped their target price on shares of Netflix from $610.00 to $650.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, Piper Sandler upped their target price on shares of Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, Netflix has an average rating of “Moderate Buy” and a consensus target price of $614.28.

Netflix Trading Down 0.6 %

NFLX stock opened at $613.69 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.12. Netflix, Inc. has a 12 month low of $315.62 and a 12 month high of $639.00. The firm’s 50-day moving average is $604.73 and its 200 day moving average is $511.17. The company has a market capitalization of $265.58 billion, a PE ratio of 51.10, a P/E/G ratio of 1.67 and a beta of 1.22.

Netflix (NASDAQ:NFLX) last issued its earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.09). Netflix had a return on equity of 24.76% and a net margin of 16.04%. The business had revenue of $8.83 billion for the quarter, compared to the consensus estimate of $8.72 billion. During the same quarter in the previous year, the company earned $0.12 earnings per share. The firm’s revenue was up 12.5% on a year-over-year basis. On average, research analysts anticipate that Netflix, Inc. will post 17.05 EPS for the current year.

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.