Maple Capital Management Inc. Raises Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Maple Capital Management Inc. boosted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 8.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,329 shares of the Internet television network’s stock after purchasing an additional 777 shares during the period. Maple Capital Management Inc.’s holdings in Netflix were worth $7,326,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. DigitalBridge Group Inc. raised its stake in Netflix by 35.5% during the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after purchasing an additional 9,451 shares during the period. M&G Plc purchased a new position in Netflix during the first quarter worth about $9,682,000. BSN CAPITAL PARTNERS Ltd raised its stake in Netflix by 24.4% during the first quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock worth $155,185,000 after purchasing an additional 49,000 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Netflix by 58.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock valued at $55,968,000 after acquiring an additional 30,511 shares during the period. Finally, First Trust Direct Indexing L.P. lifted its holdings in shares of Netflix by 14.9% in the 1st quarter. First Trust Direct Indexing L.P. now owns 10,330 shares of the Internet television network’s stock worth $6,274,000 after acquiring an additional 1,342 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on NFLX. Wells Fargo & Company increased their price objective on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research report on Friday. Canaccord Genuity Group increased their price objective on shares of Netflix from $750.00 to $760.00 and gave the stock a “hold” rating in a research report on Friday. UBS Group increased their price objective on shares of Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a research report on Friday. Oppenheimer increased their price objective on shares of Netflix from $775.00 to $825.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Morgan Stanley increased their price objective on shares of Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and a consensus price target of $747.70.

Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 25,599 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the sale, the chairman now owns 57 shares of the company’s stock, valued at approximately $35,991.51. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $626.19, for a total transaction of $271,140.27. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Reed Hastings sold 25,599 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the sale, the chairman now directly owns 57 shares in the company, valued at approximately $35,991.51. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 229,711 shares of company stock worth $153,905,830 over the last ninety days. 1.76% of the stock is currently owned by company insiders.

Netflix Trading Down 0.6 %

Shares of Netflix stock opened at $767.65 on Tuesday. Netflix, Inc. has a 52-week low of $395.62 and a 52-week high of $773.00. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. The company’s 50-day simple moving average is $699.16 and its 200-day simple moving average is $656.21. The firm has a market cap of $330.86 billion, a price-to-earnings ratio of 53.58, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26.

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.