Ackman Cries "Uncle!" on Netflix

JC Parets
April 21, 2022

In the activist world, Bill Ackman announced that Pershing Square exited its position in Netflix $NFLX, as the stock was plunging lower by 35% on the heels of a disappointing earnings report.

It’s estimated that the hedge fund lost over $400 million on the position, which was just purchased back in January.

You can read Ackman’s letter to shareholders about it here.

The largest insider buy on today's list is a Form 4 filing by Altimeter Capital. The hedge fund reported a purchase of roughly $5.1 million in Confluent Inc $CFLT.

Altimeter has now accumulated a total of 13.3 million shares, which represents an 11.2% ownership interest.

Durable Capital Partners continues to increase its position in Duolingo $DUOL. The firm now owns 3,207,545 shares, representing a 9% ownership stake.

Here’s The Hot List, with data through April 20, 2022:

In another Form 4, Abdiel Capital Advisors reported a buy worth roughly $1 million in the computer hardware company Cricut Inc $CRCT.

Last but not least, in the options market we continue to see bullish flow in cyclical stocks such as Marathon Oil Corporation $MRO and DuPont de Nemours $DD.

There was also bullish call activity in the Brazilian fintech stock Nu Holdings Ltd $NU.

Hertz Global Holdings $HTZ witnessed bullish flow for the second consecutive day as well.

Stay tuned. We'll be back Friday with more insider action.

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All Star Charts Team

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