Gabelli Funds LLC Sells 195 Shares of Netflix, Inc. (NASDAQ:NFLX)

Gabelli Funds LLC cut its holdings in Netflix, Inc. (NASDAQ:NFLX) by 0.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 107,706 shares of the Internet television network’s stock after selling 195 shares during the period. Netflix accounts for 0.7% of Gabelli Funds LLC’s portfolio, making the stock its 24th largest holding. Gabelli Funds LLC’s holdings in Netflix were worth $96,001,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NFLX. Nordea Investment Management AB raised its position in shares of Netflix by 22.7% during the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after purchasing an additional 156,958 shares during the period. First National Trust Co boosted its stake in shares of Netflix by 1.0% in the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock worth $1,121,000 after acquiring an additional 12 shares during the period. Haven Private LLC bought a new stake in Netflix during the 4th quarter valued at approximately $733,000. Sigma Planning Corp boosted its stake in Netflix by 7.4% in the 4th quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock worth $4,966,000 after purchasing an additional 386 shares during the period. Finally, M&T Bank Corp grew its holdings in Netflix by 4.2% during the 3rd quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after buying an additional 1,684 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. FBN Securities began coverage on Netflix in a report on Thursday, March 27th. They set an “outperform” rating and a $1,165.00 price target for the company. Robert W. Baird upped their price target on shares of Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Bank of America lifted their price objective on shares of Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Arete Research raised shares of Netflix to a “hold” rating in a report on Thursday, January 23rd. Finally, Piper Sandler reissued an “overweight” rating and set a $1,100.00 price objective (up from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,017.31.

Insider Buying and Selling at Netflix

In related news, Director Jay C. Hoag sold 617 shares of Netflix stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total transaction of $604,481.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Reed Hastings sold 25,360 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the transaction, the chairman now directly owns 394 shares of the company’s stock, valued at $362,933.10. This represents a 98.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 274,312 shares of company stock worth $267,919,297. 1.76% of the stock is owned by corporate insiders.

Netflix Trading Up 1.4 %

NASDAQ:NFLX opened at $931.28 on Tuesday. The firm has a 50 day moving average of $958.50 and a 200 day moving average of $887.03. The stock has a market capitalization of $398.36 billion, a price-to-earnings ratio of 46.96, a PEG ratio of 2.12 and a beta of 1.55. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.11 EPS. As a group, sell-side analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Netflix Company Profile

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.