Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Rule One Partners LLC

Rule One Partners LLC reduced its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 12.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,100 shares of the Internet television network's stock after selling 7,400 shares during the quarter. Netflix accounts for 19.7% of Rule One Partners LLC's portfolio, making the stock its largest position. Rule One Partners LLC's holdings in Netflix were worth $50,450,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Birinyi Associates Inc. lifted its holdings in shares of Netflix by 389.6% in the first quarter. Birinyi Associates Inc. now owns 2,693 shares of the Internet television network's stock valued at $2,512,000 after buying an additional 2,143 shares during the period. ARQ Wealth Advisors LLC acquired a new stake in shares of Netflix in the first quarter valued at $232,000. Auxano Advisors LLC lifted its holdings in shares of Netflix by 3.7% in the first quarter. Auxano Advisors LLC now owns 610 shares of the Internet television network's stock valued at $569,000 after buying an additional 22 shares during the period. Private Advisor Group LLC lifted its holdings in shares of Netflix by 4.5% in the first quarter. Private Advisor Group LLC now owns 28,253 shares of the Internet television network's stock valued at $26,347,000 after buying an additional 1,227 shares during the period. Finally, Nwam LLC lifted its holdings in shares of Netflix by 58.8% in the first quarter. Nwam LLC now owns 6,348 shares of the Internet television network's stock valued at $5,920,000 after buying an additional 2,351 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the business's 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Reed Hastings sold 16,840 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $1,295.78, for a total value of $21,820,935.20. Following the completion of the sale, the director directly owned 10,067 shares of the company's stock, valued at $13,044,617.26. This represents a 62.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 186,723 shares of company stock valued at $223,307,201. 1.37% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NFLX. Macquarie upped their price objective on Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a report on Monday, April 21st. Moffett Nathanson reissued a "buy" rating and set a $1,150.00 price objective (up from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. TD Cowen lifted their target price on Netflix from $1,440.00 to $1,450.00 and gave the stock a "buy" rating in a report on Friday. Barclays restated a "sell" rating and issued a $1,100.00 target price (up from $1,000.00) on shares of Netflix in a report on Wednesday, July 9th. Finally, Phillip Securities upgraded Netflix from a "moderate sell" rating to a "hold" rating in a report on Monday, April 21st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Netflix has a consensus rating of "Moderate Buy" and a consensus target price of $1,291.41.

Netflix Stock Down 5.1%

NFLX traded down $64.93 during trading on Friday, reaching $1,209.24. 10,678,762 shares of the stock traded hands, compared to its average volume of 3,762,863. The stock has a market cap of $514.62 billion, a price-to-earnings ratio of 51.52, a price-to-earnings-growth ratio of 2.19 and a beta of 1.59. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. The stock's 50-day simple moving average is $1,232.59 and its two-hundred day simple moving average is $1,061.94.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. The firm had revenue of $11.08 billion during the quarter, compared to analysts' expectations of $11.04 billion. Netflix had a return on equity of 43.00% and a net margin of 24.58%. The business's revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the firm earned $4.88 earnings per share. As a group, equities research analysts expect 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.