GAMMA Investing LLC Acquires 8,827,662 Shares of Netflix, Inc. (NASDAQ:NFLX)

GAMMA Investing LLC boosted its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 109,524.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,835,722 shares of the Internet television network's stock after buying an additional 8,827,662 shares during the period. Netflix makes up approximately 1.5% of GAMMA Investing LLC's portfolio, making the stock its 12th biggest position. GAMMA Investing LLC owned approximately 2.07% of Netflix worth $8,239,576,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in NFLX. Pathway Financial Advisers LLC lifted its stake in shares of Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock valued at $27,000 after buying an additional 14 shares in the last quarter. Brown Shipley& Co Ltd bought a new stake in shares of Netflix during the fourth quarter worth about $27,000. Transce3nd LLC bought a new position in Netflix in the 4th quarter valued at about $32,000. Newton One Investments LLC acquired a new position in Netflix during the 4th quarter valued at about $34,000. Finally, Pineridge Advisors LLC boosted its stake in Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network's stock valued at $37,000 after purchasing an additional 40 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on NFLX shares. Pivotal Research increased their price objective on Netflix from $1,250.00 to $1,350.00 and gave the stock a "buy" rating in a research note on Monday, April 21st. FBN Securities started coverage on Netflix in a research report on Thursday, March 27th. They issued an "outperform" rating and a $1,165.00 price target for the company. Cfra Research raised shares of Netflix to a "strong-buy" rating in a report on Monday, April 28th. Needham & Company LLC reiterated a "buy" rating and issued a $1,126.00 target price on shares of Netflix in a research note on Thursday, April 17th. Finally, BMO Capital Markets reissued an "outperform" rating and set a $1,200.00 price target (up from $1,175.00) on shares of Netflix in a research report on Friday, April 18th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Netflix presently has a consensus rating of "Moderate Buy" and an average target price of $1,122.33.

Netflix Stock Performance

Shares of NFLX stock traded up $17.26 during trading on Friday, reaching $1,202.12. 4,686,095 shares of the company's stock traded hands, compared to its average volume of 3,758,665. The firm's 50-day moving average is $1,059.27 and its 200 day moving average is $974.30. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,215.91. The company has a market capitalization of $511.59 billion, a P/E ratio of 60.62, a PEG ratio of 2.12 and a beta of 1.58.

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

Insider Buying and Selling

In related news, CAO Jeffrey William Karbowski sold 640 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $1,194.77, for a total transaction of $764,652.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Reed Hastings sold 25,360 shares of the business'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 completion of the sale, the chairman now owns 394 shares of the company's stock, valued at approximately $362,933.10. The trade was a 98.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 133,348 shares of company stock worth $139,087,908 over the last ninety days. 1.37% of the stock is owned by corporate insiders.

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.