Maxi Investments CY Ltd Purchases New Position in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Maxi Investments CY Ltd has acquired a new stake in Netflix, purchasing 2,694 shares valued at approximately $2.5 million during the first quarter of the year.
• In the recent earnings report, Netflix reported an earnings per share (EPS) of $7.19, exceeding analysts' estimates, with revenue increasing 15.9% year-over-year.
• Netflix's stock currently has a consensus rating of "Moderate Buy" among analysts, with an average price target of $1,297.66.

Maxi Investments CY Ltd acquired a new stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,694 shares of the Internet television network's stock, valued at approximately $2,512,000.

Other institutional investors have also recently made changes to their positions in the company. Fullcircle Wealth LLC grew its position in Netflix by 2.5% in the first quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock worth $344,000 after acquiring an additional 9 shares in the last quarter. Mission Creek Capital Partners Inc. grew its position in Netflix by 0.3% in the fourth quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock worth $3,410,000 after acquiring an additional 10 shares in the last quarter. Continuum Wealth Advisors LLC boosted its position in shares of Netflix by 4.4% during the first quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock valued at $219,000 after buying an additional 10 shares during the period. Financial Enhancement Group LLC boosted its position in shares of Netflix by 2.5% during the first quarter. Financial Enhancement Group LLC now owns 412 shares of the Internet television network's stock valued at $384,000 after buying an additional 10 shares during the period. Finally, Saxony Capital Management LLC boosted its position in shares of Netflix by 1.4% during the first quarter. Saxony Capital Management LLC now owns 707 shares of the Internet television network's stock valued at $659,000 after buying an additional 10 shares during the period. Hedge funds and other institutional investors own 80.93% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NFLX. Macquarie boosted their target price on Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a research report on Monday, April 21st. JPMorgan Chase & Co. boosted their target price on Netflix from $1,230.00 to $1,300.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. Jefferies Financial Group set a $1,500.00 target price on Netflix and gave the company a "buy" rating in a research report on Friday, July 18th. Wedbush restated an "outperform" rating and set a $1,500.00 target price (up previously from $1,400.00) on shares of Netflix in a research report on Monday, July 14th. Finally, Evercore ISI restated an "outperform" rating on shares of Netflix in a research report on Thursday, May 15th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Netflix presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,297.66.

Netflix Stock Down 2.0%

Shares of NFLX stock traded down $23.12 during trading hours on Tuesday, reaching $1,147.87. 2,650,494 shares of the company's stock were exchanged, compared to its average volume of 4,024,204. The company has a market cap of $487.76 billion, a price-to-earnings ratio of 48.91, a P/E/G ratio of 1.97 and a beta of 1.59. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a fifty-two week low of $600.62 and a fifty-two week high of $1,341.15. The stock's 50 day moving average is $1,234.03 and its 200-day moving average is $1,087.86.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same period in the previous year, the company earned $4.88 earnings per share. The business's quarterly revenue was up 15.9% compared to the same quarter last year. Analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Jay C. Hoag sold 31,750 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the sale, the director directly owned 63,040 shares of the company's stock, valued at $78,948,144. This represents a 33.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $1,162.40, for a total transaction of $3,023,402.40. Following the completion of the transaction, the chief financial officer directly owned 3,691 shares in the company, valued at $4,290,418.40. This represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 146,483 shares of company stock valued at $179,492,976 in the last 90 days. 1.37% of the stock is currently owned by insiders.

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.