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

Mackenzie Financial Corp grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 28.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 290,776 shares of the Internet television network's stock after acquiring an additional 64,082 shares during the period. Mackenzie Financial Corp owned 0.07% of Netflix worth $259,174,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Netflix by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network's stock valued at $33,413,809,000 after buying an additional 171,712 shares during the period. FMR LLC raised its position in Netflix by 1.8% in the fourth quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock worth $18,617,081,000 after acquiring an additional 375,234 shares during the period. Geode Capital Management LLC grew its holdings in Netflix by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network's stock valued at $8,287,823,000 after purchasing an additional 175,596 shares during the period. Norges Bank bought a new position in shares of Netflix in the fourth quarter worth approximately $5,019,087,000. Finally, Alliancebernstein L.P. lifted its holdings in Netflix by 1.6% in the 4th quarter. Alliancebernstein L.P. now owns 5,141,328 shares of the Internet television network's stock worth $4,582,568,000 after purchasing an additional 82,564 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on NFLX. Wall Street Zen cut shares of Netflix from a "buy" rating to a "hold" rating in a report on Tuesday, February 4th. Needham & Company LLC reissued a "buy" rating and issued a $1,126.00 price target on shares of Netflix in a report on Thursday, April 17th. Cfra Research raised Netflix to a "strong-buy" rating in a research note on Monday, April 28th. Wedbush reissued an "outperform" rating and issued a $1,200.00 price objective on shares of Netflix in a research note on Monday, May 5th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $1,200.00 price target (up previously from $1,150.00) on shares of Netflix in a report on Friday, April 18th. Eleven research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Netflix presently has an average rating of "Moderate Buy" and an average target price of $1,102.79.

Insider Activity

In related news, insider Cletus R. Willems sold 298 shares of the firm's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $1,138.00, for a total transaction of $339,124.00. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company's stock, valued at approximately $35,972,180. This trade represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jay C. Hoag sold 32,515 shares of the firm's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the completion of the transaction, the director now directly owns 79,040 shares of the company's stock, valued at approximately $87,099,708.80. This trade represents a 29.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 132,868 shares of company stock valued at $138,483,256 in the last ninety days. Corporate insiders own 1.76% of the company's stock.

Netflix Trading Down 0.2%

NFLX opened at $1,185.39 on Friday. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,211.22. The business has a 50 day simple moving average of $1,036.22 and a two-hundred day simple moving average of $960.54. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market capitalization of $504.47 billion, a price-to-earnings ratio of 59.78, a PEG ratio of 2.12 and a beta of 1.58.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. During the same period last year, the firm posted $8.28 earnings per share. Analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

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.

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