Netflix, Inc. (NASDAQ:NFLX) is Rule One Partners LLC’s Largest Position

Rule One Partners LLC lessened its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 12.0% in the first quarter, Holdings Channel.com reports. The fund owned 54,100 shares of the Internet television network’s stock after selling 7,400 shares during the quarter. Netflix comprises approximately 19.7% of Rule One Partners LLC’s holdings, making the stock its largest position. Rule One Partners LLC’s holdings in Netflix were worth $50,450,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC raised its position in shares of Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock worth $25,000 after purchasing an additional 13 shares during the period. Brown Shipley& Co Ltd bought a new position in Netflix in the 4th quarter worth approximately $27,000. Transce3nd LLC bought a new position in Netflix in the 4th quarter worth approximately $32,000. Copia Wealth Management bought a new position in Netflix in the 4th quarter worth approximately $37,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new position in Netflix in the 1st quarter worth approximately $42,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Trading Down 5.1%

Shares of NASDAQ:NFLX opened at $1,209.24 on Friday. The company has a market cap of $514.62 billion, a P/E ratio of 51.52, a P/E/G ratio of 2.30 and a beta of 1.59. The stock’s 50-day moving average is $1,232.59 and its 200-day moving average is $1,060.77. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping analysts’ consensus estimates of $7.07 by $0.12. Netflix had a return on equity of 43.00% and a net margin of 24.58%. The business had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same period last year, the business earned $4.88 earnings per share. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. Equities research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $1,132.38, for a total value of $2,945,320.38. Following the transaction, the chief financial officer directly owned 3,691 shares of the company’s stock, valued at $4,179,614.58. The trade was a 41.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Reed Hastings sold 26,977 shares of the business’s 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 completion of the transaction, the director directly owned 394 shares in the company, valued at $446,421.70. The trade was a 98.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 186,723 shares of company stock worth $223,307,201 in the last three months. 1.37% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NFLX. Wedbush reaffirmed an “outperform” rating and set a $1,500.00 price target (up from $1,400.00) on shares of Netflix in a research note on Monday, July 14th. Bank of America increased their price target on Netflix from $1,175.00 to $1,490.00 and gave the company a “buy” rating in a research note on Friday, May 30th. Piper Sandler raised their price objective on Netflix from $1,400.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Friday. Benchmark reissued a “hold” rating on shares of Netflix in a research note on Monday, April 21st. Finally, 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. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,275.30.

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.