Rice Partnership LLC Has $10.49 Million Stake in Netflix, Inc. (NASDAQ:NFLX)

Rice Partnership LLC boosted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 26.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,767 shares of the Internet television network’s stock after acquiring an additional 2,434 shares during the period. Netflix accounts for 2.0% of Rice Partnership LLC’s investment portfolio, making the stock its 17th biggest holding. Rice Partnership LLC’s holdings in Netflix were worth $10,488,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC raised its position in Netflix by 116,620.0% in the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after purchasing an additional 5,748,200 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Netflix by 154.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after purchasing an additional 642,920 shares in the last quarter. State Street Corp raised its position in Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares in the last quarter. Jennison Associates LLC raised its position in Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after purchasing an additional 316,594 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in Netflix in the third quarter worth about $222,871,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Buying and Selling

In related news, Director Timothy M. Haley sold 11,090 shares of Netflix stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total transaction of $8,405,776.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Theodore A. Sarandos sold 1,278 shares of Netflix stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $767.05, for a total transaction of $980,289.90. Following the sale, the chief executive officer now directly owns 2,556 shares of the company’s stock, valued at $1,960,579.80. The trade was a 33.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 105,516 shares of company stock valued at $92,377,637. Company insiders own 1.76% of the company’s stock.

Netflix Stock Up 0.4 %

Netflix stock opened at $976.76 on Monday. The company has a fifty day simple moving average of $904.67 and a 200 day simple moving average of $779.53. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $999.00. The company has a market cap of $417.82 billion, a P/E ratio of 49.26, a price-to-earnings-growth ratio of 2.02 and a beta of 1.27. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same quarter last year, the firm posted $2.11 EPS. The company’s quarterly revenue was up 16.0% on a year-over-year basis. Research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NFLX has been the topic of several research analyst reports. UBS Group upped their price objective on shares of Netflix from $1,040.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Bank of America upped their price objective on shares of Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and upped their price objective for the stock from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. BMO Capital Markets reaffirmed an “outperform” rating and set a $1,175.00 price objective (up from $1,000.00) on shares of Netflix in a research note on Wednesday, January 22nd. Finally, Argus increased their price target on shares of Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.70.

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.