Netflix, Inc. (NASDAQ:NFLX) Shares Bought by Mediolanum International Funds Ltd

Key Points

• Mediolanum International Funds Ltd increased its stake in Netflix, acquiring an additional 2,697 shares, bringing its total holdings to 72,305 shares valued at $67.5 million, making it the 18th largest position in their portfolio.
• Netflix reported an EPS of $7.19 in its last quarterly earnings, exceeding analysts' expectations of $7.07, with revenue also surpassing forecasts at $11.08 billion.
• Insiders sold a total of 185,923 shares of Netflix, amounting to over $222 million in the last ninety days, indicating significant changes in ownership among corporate officers.

Mediolanum International Funds Ltd raised its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 3.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,305 shares of the Internet television network's stock after purchasing an additional 2,697 shares during the quarter. Netflix accounts for approximately 0.9% of Mediolanum International Funds Ltd's portfolio, making the stock its 18th largest position. Mediolanum International Funds Ltd's holdings in Netflix were worth $67,522,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Heartland Consultants Inc. boosted its holdings in Netflix by 9.9% in the first quarter. First Heartland Consultants Inc. now owns 891 shares of the Internet television network's stock valued at $831,000 after purchasing an additional 80 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its holdings in Netflix by 5.4% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 92,186 shares of the Internet television network's stock valued at $85,915,000 after purchasing an additional 4,723 shares during the period. Fischer Financial Services Inc. boosted its holdings in Netflix by 1.4% in the first quarter. Fischer Financial Services Inc. now owns 2,456 shares of the Internet television network's stock valued at $2,290,000 after purchasing an additional 33 shares during the period. Phoenix Financial Ltd. boosted its holdings in Netflix by 64.7% in the first quarter. Phoenix Financial Ltd. now owns 13,865 shares of the Internet television network's stock valued at $12,964,000 after purchasing an additional 5,446 shares during the period. Finally, Stevens Capital Management LP purchased a new position in Netflix in the first quarter valued at $8,764,000. Hedge funds and other institutional investors own 80.93% of the company's stock.

Netflix Price Performance

Shares of NASDAQ:NFLX traded down $0.27 during trading on Friday, hitting $1,180.49. 2,624,404 shares of the stock were exchanged, compared to its average volume of 3,928,007. The company has a fifty day moving average price of $1,236.44 and a two-hundred day moving average price of $1,072.76. The company has a market cap of $501.63 billion, a PE ratio of 50.30, a P/E/G ratio of 1.99 and a beta of 1.59. The company has a current ratio of 1.34, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,341.15.

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, topping the consensus estimate of $7.07 by $0.12. The business had revenue of $11.08 billion for 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 company's quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.88 EPS. On average, analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Buying and Selling

In related news, Director Reed Hastings sold 26,977 shares of Netflix stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $1,133.05, for a total transaction of $30,566,289.85. Following the completion of the transaction, the director directly owned 394 shares in the company, valued at $446,421.70. The trade was a 98.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jay C. Hoag sold 32,515 shares of Netflix stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the transaction, the director owned 79,040 shares of the company's stock, valued at $87,099,708.80. This represents a 29.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 185,923 shares of company stock valued at $222,445,095. 1.37% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NFLX shares. BMO Capital Markets reiterated an "outperform" rating and issued a $1,425.00 target price (up from $1,200.00) on shares of Netflix in a report on Tuesday, July 15th. Seaport Res Ptn lowered Netflix from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 6th. Phillip Securities lowered Netflix from a "hold" rating to a "strong sell" rating in a report on Monday, July 21st. Benchmark restated a "hold" rating on shares of Netflix in a research note on Monday, April 21st. Finally, Pivotal Research restated a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Netflix currently has an average rating of "Moderate Buy" and a consensus price target of $1,297.66.

About Netflix

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.