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

Rice Partnership LLC grew its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 13.7% in 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 2.6% of Rice Partnership LLC's portfolio, making the stock its 11th biggest position. Rice Partnership LLC's holdings in Netflix were worth $12,477,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Warwick Investment Management Inc. grew its position in Netflix by 3.5% during the 4th quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network's stock worth $266,000 after acquiring an additional 10 shares during the last quarter. MRP Capital Investments LLC boosted its position in Netflix by 1.0% in the 4th quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network's stock valued at $938,000 after buying an additional 10 shares during the last quarter. Bedell Frazier Investment Counselling LLC boosted its position in Netflix by 2.2% in the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock valued at $412,000 after buying an additional 10 shares during the last quarter. Mission Creek Capital Partners Inc. boosted its position in 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 valued at $3,410,000 after buying an additional 10 shares during the last quarter. Finally, Continuum Wealth Advisors LLC boosted its position in Netflix by 4.4% in the 1st quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock valued at $219,000 after buying an additional 10 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Jeffrey William Karbowski sold 620 shares of Netflix stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $1,286.84, for a total transaction of $797,840.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total value of $3,400,079.22. Following the transaction, the chief financial officer owned 3,691 shares of the company's stock, valued at $4,824,949.02. The trade was a 41.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 186,723 shares of company stock valued at $223,307,201 in the last quarter. 1.37% of the stock is currently owned by corporate insiders.

Netflix Stock Down 1.1%

Shares of NASDAQ:NFLX traded down $14.31 during midday trading on Tuesday, reaching $1,275.31. The company had a trading volume of 3,281,114 shares, compared to its average volume of 3,765,566. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. The business's 50 day moving average price is $1,211.46 and its 200 day moving average price is $1,041.22. The stock has a market cap of $542.73 billion, a PE ratio of 60.27, a P/E/G ratio of 2.34 and a beta of 1.59. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,341.15.

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on NFLX. Morgan Stanley increased their price objective on Netflix from $1,150.00 to $1,200.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. Wedbush reiterated an "outperform" rating and issued a $1,200.00 price objective on shares of Netflix in a research report on Monday, May 5th. The Goldman Sachs Group increased their price objective on Netflix from $1,000.00 to $1,140.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. UBS Group increased their price objective on Netflix from $1,150.00 to $1,450.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, Moffett Nathanson restated a "buy" rating and issued a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Twelve equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $1,182.58.

Netflix Company 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.