Rice Partnership LLC Buys 1,613 Shares of Netflix, Inc. (NASDAQ:NFLX)

Rice Partnership LLC boosted its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 13.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,380 shares of the Internet television network's stock after acquiring an additional 1,613 shares during the quarter. Netflix comprises about 2.6% of Rice Partnership LLC's investment portfolio, making the stock its 11th biggest position. Rice Partnership LLC's holdings in Netflix were worth $12,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC increased its stake in shares of Netflix by 8.7% in the fourth quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network's stock worth $1,227,468,000 after acquiring an additional 110,432 shares during the period. PharVision Advisers LLC purchased a new stake in Netflix during the 4th quarter valued at about $873,000. New England Research & Management Inc. increased its stake in shares of Netflix by 148.5% in the 1st quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network's stock worth $1,979,000 after acquiring an additional 1,268 shares during the last quarter. First National Trust Co lifted its holdings in Netflix by 1.0% in the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network's stock valued at $1,121,000 after acquiring an additional 12 shares during the last quarter. Finally, Xcel Wealth Management LLC increased its position in shares of Netflix by 15.2% during the first quarter. Xcel Wealth Management LLC now owns 492 shares of the Internet television network's stock valued at $459,000 after acquiring an additional 65 shares during the last quarter. Institutional investors own 80.93% of the company's stock.

Netflix Stock Down 0.6%

Netflix stock traded down $8.41 during mid-day trading on Monday, hitting $1,288.78. 1,022,439 shares of the company's stock were exchanged, compared to its average volume of 3,755,338. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,341.15. The stock has a 50 day moving average of $1,207.87 and a two-hundred day moving average of $1,038.56. The stock has a market cap of $548.46 billion, a P/E ratio of 60.89, a P/E/G ratio of 2.35 and a beta of 1.59. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating analysts' consensus estimates of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. Netflix had a net margin of 23.07% and a return on equity of 39.61%. During the same quarter last year, the firm posted $8.28 earnings per share. As a group, analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on NFLX shares. Benchmark restated a "hold" rating on shares of Netflix in a report on Monday, April 21st. Cfra Research upgraded Netflix to a "strong-buy" rating in a research note on Monday, April 28th. Robert W. Baird upped their price objective on Netflix from $1,200.00 to $1,300.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Bank of America increased their price target on shares of Netflix from $1,175.00 to $1,490.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Finally, The Goldman Sachs Group raised their price objective on shares of Netflix from $1,000.00 to $1,140.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Eleven investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,182.58.

Insiders Place Their Bets

In other Netflix 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 value of $30,566,289.85. Following the transaction, the director directly owned 394 shares of the company's stock, valued at $446,421.70. The trade was a 98.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bradford L. Smith sold 3,919 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the transaction, the director directly owned 7,969 shares in the company, valued at $8,959,227.94. This trade represents a 32.97% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 186,723 shares of company stock valued at $223,307,201. Company 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.