Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Nemes Rush Group LLC

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 lessened its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 4.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Fullcircle Wealth LLC raised its stake in shares of Netflix by 2.5% during the 1st quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock worth $344,000 after purchasing an additional 9 shares during the period. Bedell Frazier Investment Counselling LLC boosted its holdings in Netflix by 2.2% in the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock valued at $412,000 after acquiring an additional 10 shares in the last quarter. Mission Creek Capital Partners Inc. raised its position in shares of Netflix by 0.3% in the 4th quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock worth $3,410,000 after purchasing an additional 10 shares during the last quarter. Continuum Wealth Advisors LLC boosted its stake in Netflix by 4.4% in the 1st quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock worth $219,000 after purchasing an additional 10 shares in the last quarter. Finally, Financial Enhancement Group LLC boosted its stake in Netflix by 2.5% in the 1st quarter. Financial Enhancement Group LLC now owns 412 shares of the Internet television network's stock worth $384,000 after purchasing an additional 10 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Netflix Trading Up 0.5%

Netflix stock traded up $6.14 during mid-day trading on Wednesday, hitting $1,174.88. The stock had a trading volume of 1,305,498 shares, compared to its average volume of 4,265,998. 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, Inc. has a 12 month low of $587.04 and a 12 month high of $1,341.15. The stock has a market capitalization of $499.23 billion, a PE ratio of 50.02, a P/E/G ratio of 1.98 and a beta of 1.59. The stock has a 50-day simple moving average of $1,235.63 and a two-hundred day simple moving average of $1,077.14.

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

Insider Buying and Selling

In other Netflix news, Director Reed Hastings sold 26,977 shares of the stock in a transaction 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 sale, the director directly owned 394 shares in the company, valued at approximately $446,421.70. This trade represents a 98.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jay C. Hoag sold 31,750 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the sale, the director directly owned 63,040 shares in the company, valued at approximately $78,948,144. This represents a 33.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 153,408 shares of company stock valued at $186,614,540 in the last ninety days. 1.37% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Guggenheim reiterated a "buy" rating and set a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Bank of America increased their price objective on Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a report on Friday, May 30th. TD Cowen lifted their price objective on Netflix from $1,440.00 to $1,450.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Phillip Securities cut Netflix from a "hold" rating to a "strong sell" rating in a research note on Monday, July 21st. Finally, Rosenblatt Securities upped their target price on Netflix from $1,514.00 to $1,515.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,297.66.

Netflix 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.