Netflix, Inc. (NFLX) Rising Thanks to Apple (AAPL) Rumors, Bullish Analyst

Judging by the fact that sentiment in Netflix, Inc. (NASDAQ:NFLX) was flat overall, we can see that there is a sect of money managers that decided to sell off their full holdings last quarter. Intriguingly, Jim Simons’ Renaissance Technologies sold off the biggest investment of all the hedgies watched by Insider Monkey, worth an estimated $71.8 million in stock, and John Burbank’s Passport Capital was right behind this move, as the fund said goodbye to about $62.9 million worth.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Netflix, Inc. (NASDAQ:NFLX) but similarly valued. These stocks are FedEx Corporation (NYSE:FDX), Infosys Ltd ADR (NYSE:INFY), American Tower Corp (NYSE:AMT), and Carnival plc (ADR) (NYSE:CUK). This group of stocks’ market caps resemble NFLX’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
FDX 45 3443380 -2
INFY 21 986936 0
AMT 40 2582713 2
CUK 5 65413 -1

As you can see these stocks had an average of 28 hedge funds with bullish positions and the average amount invested in these stocks was $1.77 billion. That figure was $6.66 billion in NFLX’s case. FedEx Corporation (NYSE:FDX) is the most popular stock in this table. On the other hand Carnival plc (ADR) (NYSE:CUK) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks Netflix, Inc. (NASDAQ:NFLX) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers and have a lot of money invested in it, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None