Gabelli Funds LLC Grows Stake in Netflix, Inc. (NASDAQ:NFLX)

Gabelli Funds LLC raised its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 0.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 117,495 shares of the Internet television network’s stock after purchasing an additional 172 shares during the period. Gabelli Funds LLC’s holdings in Netflix were worth $79,295,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. M&G Plc bought a new position in shares of Netflix during the 1st quarter worth approximately $9,682,000. BSN CAPITAL PARTNERS Ltd increased its position in shares of Netflix by 24.4% during the first quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock worth $155,185,000 after purchasing an additional 49,000 shares in the last quarter. Scarborough Advisors LLC purchased a new stake in shares of Netflix during the 4th quarter valued at $9,513,000. Scotia Capital Inc. boosted its position in shares of Netflix by 9.1% in the 4th quarter. Scotia Capital Inc. now owns 25,351 shares of the Internet television network’s stock worth $12,343,000 after purchasing an additional 2,110 shares in the last quarter. Finally, Focus Financial Network Inc. ADV acquired a new position in Netflix during the 4th quarter valued at about $3,700,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Bank of America upped their price objective on shares of Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a report on Monday, July 15th. Benchmark raised their price target on shares of Netflix from $450.00 to $545.00 and gave the stock a “sell” rating in a report on Tuesday, July 16th. KeyCorp lifted their price objective on shares of Netflix from $707.00 to $735.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Rosenblatt Securities reissued a “neutral” rating and issued a $635.00 target price on shares of Netflix in a research report on Friday. Finally, Sanford C. Bernstein lifted their target price on Netflix from $600.00 to $625.00 and gave the stock a “market perform” rating in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $685.29.

Netflix Stock Performance

NASDAQ NFLX opened at $701.03 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The stock’s fifty day moving average is $663.00 and its two-hundred day moving average is $640.85. The firm has a market capitalization of $302.14 billion, a P/E ratio of 48.65, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $715.66.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. The company had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. Netflix’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.29 earnings per share. On average, research analysts anticipate that Netflix, Inc. will post 19.08 earnings per share for the current year.

Insider Activity at Netflix

In other Netflix news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Netflix news, Director Leslie J. Kilgore sold 428 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $715.00, for a total transaction of $306,020.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 197,226 shares of company stock worth $129,858,692. Insiders own 1.76% of the company’s stock.

About Netflix

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.