Mirabaud & Cie SA Purchases 2,540 Shares of Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Mirabaud & Cie SA has increased its stake in Netflix, Inc. by 274.3%, acquiring an additional 2,540 shares, bringing its total holdings to 3,466 shares valued at $3.23 million.
• Multiple hedge funds have also adjusted their positions in Netflix, with some like Halbert Hargrove Global Advisors significantly increasing their holdings by 100%.
• Wall Street analysts remain optimistic about Netflix, with a consensus rating of "Moderate Buy" and an average target price of $1,297.66 for the stock.

Mirabaud & Cie SA boosted its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 274.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,466 shares of the Internet television network's stock after acquiring an additional 2,540 shares during the period. Netflix accounts for 1.1% of Mirabaud & Cie SA's investment portfolio, making the stock its 21st biggest position. Mirabaud & Cie SA's holdings in Netflix were worth $3,230,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Halbert Hargrove Global Advisors LLC increased its holdings in Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after purchasing an additional 13 shares during the period. Brown Shipley& Co Ltd bought a new stake in shares of Netflix in the 4th quarter worth approximately $27,000. Transce3nd LLC purchased a new position in shares of Netflix during the fourth quarter valued at approximately $32,000. Copia Wealth Management purchased a new position in shares of Netflix during the fourth quarter valued at approximately $37,000. Finally, Stuart Chaussee & Associates Inc. raised its holdings in shares of Netflix by 4,500.0% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock valued at $41,000 after acquiring an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NFLX. Macquarie lifted their price target on shares of Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a report on Monday, April 21st. Jefferies Financial Group set a $1,500.00 target price on shares of Netflix and gave the company a "buy" rating in a research note on Friday, July 18th. TD Cowen increased their price target on shares of Netflix from $1,440.00 to $1,450.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Bank of America raised their price objective on shares of Netflix from $1,175.00 to $1,490.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Finally, Moffett Nathanson reiterated a "buy" rating and set a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Three 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,297.66.

Netflix Stock Performance

NASDAQ:NFLX opened at $1,158.60 on Friday. The stock has a 50-day moving average price of $1,234.32 and a 200 day moving average price of $1,082.35. The stock has a market capitalization of $492.32 billion, a P/E ratio of 49.37, a P/E/G ratio of 1.95 and a beta of 1.59. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,341.15. 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 (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. The company had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The firm's revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the company earned $4.88 earnings per share. Equities research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Strive Masiyiwa sold 290 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $1,336.54, for a total value of $387,596.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Reed Hastings sold 9,673 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,329.11, for a total value of $12,856,481.03. Following the sale, the director directly owned 394 shares in the company, valued at $523,669.34. The trade was a 96.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 123,830 shares of company stock valued at $153,102,930 in the last three months. Corporate insiders own 1.37% of the company's stock.

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.

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