Mackenzie Financial Corp Reduces Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Mackenzie Financial Corp reduced its stake in Netflix, Inc. by 32.9%, owning 195,023 shares valued at approximately $181.87 million after selling 95,753 shares in the first quarter.
• Netflix reported a net revenue increase of 15.9% from the previous year, posting $11.08 billion for the latest quarter and achieving earnings per share of $7.19, surpassing analyst estimates.
• The company's stock currently holds an average rating of "Moderate Buy" from analysts, with a consensus target price set at $1,297.66.

Mackenzie Financial Corp decreased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 32.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 195,023 shares of the Internet television network's stock after selling 95,753 shares during the quarter. Mackenzie Financial Corp's holdings in Netflix were worth $181,865,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Resurgent Financial Advisors LLC grew its position in Netflix by 234.4% during the first quarter. Resurgent Financial Advisors LLC now owns 1,010 shares of the Internet television network's stock worth $942,000 after buying an additional 708 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Netflix by 8.7% during the 4th quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network's stock worth $1,227,468,000 after purchasing an additional 110,432 shares in the last quarter. PharVision Advisers LLC bought a new position in shares of Netflix in the fourth quarter worth $873,000. New England Research & Management Inc. raised its stake in Netflix by 148.5% in the first quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network's stock valued at $1,979,000 after purchasing an additional 1,268 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Netflix by 6.1% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,638 shares of the Internet television network's stock worth $50,952,000 after acquiring an additional 3,137 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Netflix Trading Down 0.5%

NFLX traded down $5.86 on Tuesday, hitting $1,168.74. 2,747,527 shares of the company were exchanged, compared to its average volume of 4,287,444. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,341.15. The firm has a fifty day simple moving average of $1,236.10 and a two-hundred day simple moving average of $1,076.50. The stock has a market capitalization of $496.63 billion, a PE ratio of 49.80, a price-to-earnings-growth ratio of 1.99 and a beta of 1.59.

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wolfe Research set a $1,340.00 price target on Netflix and gave the stock an "outperform" rating in a report on Friday, May 16th. Macquarie increased their target price on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a report on Monday, April 21st. Loop Capital reissued a "hold" rating on shares of Netflix in a research note on Tuesday, July 15th. Barclays reiterated a "sell" rating and set a $1,100.00 price target (up from $1,000.00) on shares of Netflix in a report on Wednesday, July 9th. Finally, Seaport Res Ptn downgraded Netflix from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 6th. Three equities 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,297.66.

Insider Buying and Selling at Netflix

In other news, Director Bradford L. Smith sold 3,919 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total value of $4,405,974.94. Following the transaction, the director owned 7,969 shares of the company's stock, valued at approximately $8,959,227.94. The trade was a 32.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jay C. Hoag sold 31,750 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the completion of the sale, the director owned 63,040 shares in the company, valued at approximately $78,948,144. The trade was a 33.50% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 153,408 shares of company stock valued at $186,614,540. Insiders own 1.37% of the company's stock.

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.