Gabelli Funds LLC Decreases Stock Position in Netflix, Inc. $NFLX

Key Points

• Gabelli Funds LLC has reduced its stake in Netflix by 26.8%, selling 28,879 shares to hold 78,827 shares valued at approximately $73.5 million.
• Several hedge funds have recently altered their positions in Netflix, with Brighton Jones LLC and Revolve Wealth Partners LLC increasing their holdings by 5.0% and 16.4%, respectively.
• Netflix's stock has a market cap of $517.59 billion and analysts have set an average price target of $1,297.66, reflecting a positive outlook despite recent trading performance.

Gabelli Funds LLC lessened its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 26.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 78,827 shares of the Internet television network's stock after selling 28,879 shares during the quarter. Gabelli Funds LLC's holdings in Netflix were worth $73,509,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NFLX. Fullcircle Wealth LLC grew its holdings in shares of Netflix by 2.5% in the first quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock valued at $344,000 after purchasing an additional 9 shares in the last quarter. Capital Analysts LLC grew its stake in shares of Netflix by 0.3% in the 1st quarter. Capital Analysts LLC now owns 2,620 shares of the Internet television network's stock worth $2,443,000 after buying an additional 9 shares in the last quarter. Enterprise Financial Services Corp increased its holdings in shares of Netflix by 1.8% in the 1st quarter. Enterprise Financial Services Corp now owns 505 shares of the Internet television network's stock worth $471,000 after buying an additional 9 shares during the last quarter. Continuum Wealth Advisors LLC raised its position in shares of Netflix by 4.4% during the 1st quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock valued at $219,000 after buying an additional 10 shares in the last quarter. Finally, Financial Enhancement Group LLC lifted its holdings in shares of Netflix by 2.5% in the 1st quarter. Financial Enhancement Group LLC now owns 412 shares of the Internet television network's stock valued at $384,000 after acquiring an additional 10 shares during the last quarter. Institutional investors own 80.93% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Piper Sandler boosted their price objective on Netflix from $1,400.00 to $1,500.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Wall Street Zen upgraded Netflix from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Bank of America increased their price target on Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a report on Friday, May 30th. Seaport Res Ptn lowered shares of Netflix from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 6th. Finally, Citigroup reiterated a "neutral" rating and set a $1,250.00 price target (up from $1,020.00) on shares of Netflix in a report on Thursday, May 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $1,297.66.

Insider Activity at Netflix

In related news, insider David A. Hyman sold 424 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $1,158.67, for a total transaction of $491,276.08. Following the completion of the sale, the insider directly owned 31,610 shares in the company, valued at $36,625,558.70. This represents a 1.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Gregory K. Peters sold 2,026 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $1,157.44, for a total transaction of $2,344,973.44. Following the completion of the transaction, the chief executive officer owned 12,781 shares of the company's stock, valued at $14,793,240.64. This represents a 13.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 123,163 shares of company stock valued at $151,917,174 over the last 90 days. Insiders own 1.37% of the company's stock.

Netflix Stock Up 0.6%

Shares of NFLX stock traded up $7.95 during mid-day trading on Thursday, hitting $1,231.45. The stock had a trading volume of 1,948,125 shares, compared to its average volume of 2,819,021. Netflix, Inc. has a 12-month low of $660.80 and a 12-month high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34. The firm's 50-day moving average is $1,231.40 and its two-hundred day moving average is $1,114.62. The firm has a market capitalization of $523.28 billion, a P/E ratio of 52.47, a price-to-earnings-growth ratio of 2.06 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, beating the consensus estimate of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The business had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. During the same quarter in the previous year, the business posted $4.88 EPS. The company's quarterly revenue was up 15.9% compared to the same quarter last year. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. On average, analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.