Nemes Rush Group LLC Lowers Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Nemes Rush Group LLC reduced its stock position in Netflix, Inc. by 4.9%, owning 4,602 shares worth approximately $4.29 million as of their recent SEC filing.
• Institutional investors own 80.93% of Netflix, with several hedge funds increasing their stakes during the fourth quarter.
• Netflix reported earnings of $7.19 per share for the last quarter, surpassing analysts’ expectations and indicating a 15.9% year-over-year revenue growth.

Nemes Rush Group LLC reduced its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 4.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,602 shares of the Internet television network's stock after selling 235 shares during the quarter. Nemes Rush Group LLC's holdings in Netflix were worth $4,292,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Netflix by 1.8% in the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock valued at $18,617,081,000 after acquiring an additional 375,234 shares during the period. Geode Capital Management LLC raised its position in Netflix by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network's stock valued at $8,287,823,000 after purchasing an additional 175,596 shares during the period. GAMMA Investing LLC raised its position in Netflix by 109,524.3% in the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock valued at $8,239,576,000 after purchasing an additional 8,827,662 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Netflix by 1.6% during the fourth quarter. Alliancebernstein L.P. now owns 5,141,328 shares of the Internet television network's stock worth $4,582,568,000 after purchasing an additional 82,564 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Netflix by 14.3% in the fourth quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock worth $4,076,903,000 after buying an additional 570,674 shares during the period. Institutional investors and hedge funds own 80.93% of the company's stock.

Insider Activity at Netflix

In other news, Director Strive Masiyiwa sold 290 shares of the company's stock in a transaction that occurred on 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ann Mather sold 1,090 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $1,250.00, for a total transaction of $1,362,500.00. The disclosure for this sale can be found here. Insiders sold 185,923 shares of company stock worth $222,445,095 in the last three months. Insiders own 1.37% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on NFLX. Bank of America raised their target price on Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a report on Friday, May 30th. Wall Street Zen upgraded shares of Netflix from a "hold" rating to a "buy" rating in a research note on Saturday. KeyCorp upped their target price on shares of Netflix from $1,070.00 to $1,390.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Morgan Stanley reaffirmed an "equal weight" rating on shares of Netflix in a report on Monday, July 21st. Finally, Loop Capital reiterated a "hold" rating on shares of Netflix in a report on Tuesday, July 15th. Three research analysts have rated the stock with a sell rating, ten have assigned 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.com, the company has a consensus rating of "Moderate Buy" and an average price target of $1,297.66.

Netflix Stock Down 0.0%

Shares of Netflix stock opened at $1,180.49 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.20. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,341.15. The business's fifty day moving average price is $1,236.44 and its two-hundred day moving average price is $1,072.76. The company has a market capitalization of $501.62 billion, a P/E ratio of 50.30, a PEG 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 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 analysts' expectations of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The company's revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the business earned $4.88 earnings per share. As a group, research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

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.

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