Netflix, Inc. (NFLX) Hits New All-Time High Post Split

Among over 700 funds that we track, Philippe Laffont’s Coatue Management was the largest shareholder of the company with 1.76 million shares of Netflix, Inc. (NASDAQ:NFLX) valued at $734.69 million at the end of the first quarter. Billionaire Carl Icahn was also bullish on the company, holding 1.41 million shares as of the end of March, but after the split he announced that he sold his entire stake in the company. Earlier, Icahn called the company a “no brainer” and said that CEO Reed Hastings did a great job building the company. According to some reports, Icahn made around $2 billion on his investment in Netflix since 2012 (when he initiated a stake).

Aside from hedge funds’ moves, we are also interested in insider trading surrounding Netflix. In this way, Chief Content Officer Theodore Sarandos, sold 207,487 shares at the end of July, previously having acquired shares through the exercise of Non-Qualified Stock Options.

Considering all of these factors and expansion plans of the company, we recommend a buy for its shares at current levels.

Disclosure: None