Gamco Investors INC. ET AL Has $14.72 Million Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Gamco Investors INC. ET AL trimmed its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 4.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,513 shares of the Internet television network's stock after selling 847 shares during the quarter. Gamco Investors INC. ET AL's holdings in Netflix were worth $14,718,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in NFLX. Nordea Investment Management AB lifted its holdings in Netflix by 22.7% during the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network's stock worth $760,918,000 after buying an additional 156,958 shares during the last quarter. First National Trust Co boosted its holdings in 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 purchasing an additional 12 shares during the period. Haven Private LLC acquired a new stake in shares of Netflix during the fourth quarter worth $733,000. Sigma Planning Corp lifted its position in shares of 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 buying an additional 386 shares during the last quarter. Finally, M&T Bank Corp boosted its holdings in shares of Netflix by 4.2% in 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 during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NFLX shares. Barclays upgraded Netflix from an "underweight" rating to an "equal weight" rating and lifted their target price for the company from $715.00 to $900.00 in a research note on Wednesday, January 22nd. Sanford C. Bernstein upgraded Netflix from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $975.00 to $1,200.00 in a research report on Friday, January 24th. Oppenheimer reaffirmed an "outperform" rating on shares of Netflix in a research report on Friday. Piper Sandler initiated coverage on shares of Netflix in a report on Thursday. They set an "overweight" rating and a $1,100.00 price target for the company. Finally, KeyCorp dropped their price objective on shares of Netflix from $1,100.00 to $1,000.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Nine analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Netflix has a consensus rating of "Moderate Buy" and an average target price of $1,036.38.

Netflix Stock Up 1.2 %

Shares of Netflix stock traded up $11.40 on Friday, hitting $973.03. 8,733,404 shares of the company traded hands, compared to its average volume of 3,672,601. 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 12-month low of $542.01 and a 12-month high of $1,064.50. The company has a 50-day moving average price of $954.87 and a 200 day moving average price of $894.38. The company has a market cap of $416.22 billion, a PE ratio of 49.07, a PEG ratio of 2.12 and a beta of 1.55.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping the consensus estimate of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same period in the prior year, the firm posted $8.28 EPS. Sell-side analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the transaction, the chief financial officer now directly owns 3,691 shares in the company, valued at $3,402,068.52. This trade represents a 41.34 % decrease in their ownership of the stock. 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 company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total value of $23,360,364.00. Following the sale, the chairman now owns 394 shares of the company's stock, valued at approximately $362,933.10. This trade represents a 98.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 274,312 shares of company stock worth $267,919,297 over the last ninety days. 1.76% of the stock is currently owned by insiders.

Netflix 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.