GAMMA Investing LLC Makes New $1.34 Million Investment in Netflix, Inc. (NASDAQ:NFLX)

GAMMA Investing LLC bought a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,753 shares of the Internet television network’s stock, valued at approximately $1,340,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NFLX. Columbia Trust Co 01012016 boosted its position in shares of Netflix by 15.3% in the 4th quarter. Columbia Trust Co 01012016 now owns 1,566 shares of the Internet television network’s stock worth $762,000 after purchasing an additional 208 shares in the last quarter. Crumly & Associates Inc. boosted its position in shares of Netflix by 4.1% in the 4th quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network’s stock worth $1,025,000 after purchasing an additional 83 shares in the last quarter. Venture Visionary Partners LLC boosted its position in shares of Netflix by 15.4% in the 4th quarter. Venture Visionary Partners LLC now owns 9,849 shares of the Internet television network’s stock worth $4,795,000 after purchasing an additional 1,318 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Netflix by 142.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 667,597 shares of the Internet television network’s stock worth $252,085,000 after purchasing an additional 392,427 shares in the last quarter. Finally, Sandy Cove Advisors LLC boosted its position in shares of Netflix by 10.6% in the 4th quarter. Sandy Cove Advisors LLC now owns 1,187 shares of the Internet television network’s stock worth $578,000 after purchasing an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NFLX shares. Pivotal Research boosted their price target on Netflix from $765.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday. Citigroup upped their price objective on Netflix from $555.00 to $660.00 and gave the company a “neutral” rating in a research report on Monday, March 25th. Canaccord Genuity Group cut Netflix from a “buy” rating to a “hold” rating and lowered their price objective for the company from $720.00 to $585.00 in a research report on Friday. Robert W. Baird upped their price objective on Netflix from $500.00 to $600.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Finally, Wells Fargo & Company upped their price objective on Netflix from $650.00 to $726.00 and gave the company an “overweight” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $630.58.

Netflix Price Performance

Shares of Netflix stock traded up $23.15 during trading on Tuesday, reaching $577.75. 4,942,177 shares of the stock traded hands, compared to its average volume of 4,517,395. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.12. Netflix, Inc. has a 52-week low of $315.62 and a 52-week high of $639.00. The business has a fifty day simple moving average of $605.58 and a two-hundred day simple moving average of $516.27. The company has a market capitalization of $248.95 billion, a price-to-earnings ratio of 39.42, a P/E/G ratio of 1.49 and a beta of 1.22.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The firm had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. During the same quarter last year, the firm earned $2.88 EPS. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. Sell-side analysts expect that Netflix, Inc. will post 17.13 EPS for the current year.

Insider Activity at Netflix

In other Netflix news, insider David A. Hyman sold 47,574 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total value of $25,591,006.08. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at $17,003,651.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Netflix news, insider David A. Hyman sold 47,574 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total value of $25,591,006.08. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at $17,003,651.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 20,566 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the transaction, the chairman now directly owns 28 shares in the company, valued at $17,091.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 268,335 shares of company stock valued at $151,619,811. Insiders own 2.45% of the company’s stock.

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.