Gabelli Funds LLC Acquires 3,350 Shares of Netflix, Inc. (NASDAQ:NFLX)

Gabelli Funds LLC increased its position in Netflix, Inc. (NASDAQ:NFLX) by 3.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 114,172 shares of the Internet television network’s stock after purchasing an additional 3,350 shares during the quarter. Gabelli Funds LLC’s holdings in Netflix were worth $50,292,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NFLX. Barrett & Company Inc. acquired a new position in Netflix during the first quarter worth $29,000. Manchester Capital Management LLC increased its stake in shares of Netflix by 8,700.0% in the first quarter. Manchester Capital Management LLC now owns 88 shares of the Internet television network’s stock valued at $30,000 after buying an additional 87 shares in the last quarter. Retirement Group LLC increased its stake in shares of Netflix by 52.6% in the first quarter. Retirement Group LLC now owns 87 shares of the Internet television network’s stock valued at $30,000 after buying an additional 30 shares in the last quarter. Silicon Valley Capital Partners increased its stake in shares of Netflix by 80.0% in the first quarter. Silicon Valley Capital Partners now owns 90 shares of the Internet television network’s stock valued at $31,000 after buying an additional 40 shares in the last quarter. Finally, Nordwand Advisors LLC acquired a new stake in shares of Netflix in the first quarter valued at $35,000. 79.95% of the stock is owned by institutional investors.

Netflix Stock Down 0.2 %

Shares of NASDAQ:NFLX traded down $1.04 during trading on Friday, hitting $465.91. 2,800,214 shares of the company were exchanged, compared to its average volume of 4,920,062. The stock has a market cap of $203.92 billion, a price-to-earnings ratio of 46.50, a P/E/G ratio of 1.81 and a beta of 1.24. Netflix, Inc. has a fifty-two week low of $273.41 and a fifty-two week high of $485.00. The firm has a fifty day moving average price of $402.61 and a two-hundred day moving average price of $408.78. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.63.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Wednesday, October 18th. The Internet television network reported $3.73 earnings per share for the quarter, topping the consensus estimate of $3.49 by $0.24. The firm had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.54 billion. Netflix had a return on equity of 20.68% and a net margin of 13.82%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.10 EPS. As a group, research analysts anticipate that Netflix, Inc. will post 12.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on Netflix from $455.00 to $480.00 and gave the company an “overweight” rating in a research note on Thursday, October 19th. Piper Sandler lowered their target price on Netflix from $440.00 to $400.00 and set a “neutral” rating for the company in a research note on Wednesday, October 11th. UBS Group decreased their price target on Netflix from $525.00 to $500.00 and set a “buy” rating on the stock in a report on Monday, October 16th. DZ Bank upgraded Netflix from a “hold” rating to a “buy” rating and set a $465.00 price target on the stock in a report on Friday, October 20th. Finally, Truist Financial upgraded Netflix from a “hold” rating to a “buy” rating and raised their price target for the company from $430.00 to $465.00 in a report on Thursday, October 19th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $441.20.

Insiders Place Their Bets

In other Netflix news, Director Richard N. Barton sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $435.00, for a total transaction of $217,500.00. Following the transaction, the director now owns 152 shares of the company’s stock, valued at approximately $66,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Richard N. Barton sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $435.00, for a total transaction of $217,500.00. Following the transaction, the director now directly owns 152 shares of the company’s stock, valued at approximately $66,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 16,030 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $417.61, for a total value of $6,694,288.30. The disclosure for this sale can be found here. Insiders have sold 134,563 shares of company stock valued at $57,388,283 in the last 90 days. 2.45% of the stock is currently owned by insiders.

About Netflix

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.