Grantham Mayo Van Otterloo & Co. LLC bought a new position in shares of Netflix, Inc. (NASDAQ:NFLX – Get Rating) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 102,800 shares of the Internet television network’s stock, valued at approximately $17,977,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NFLX. Gabelli Funds LLC raised its position in Netflix by 3.6% during the 1st quarter. Gabelli Funds LLC now owns 95,567 shares of the Internet television network’s stock worth $35,798,000 after purchasing an additional 3,300 shares during the last quarter. Bridgewater Associates LP raised its position in Netflix by 3,001.6% during the 2nd quarter. Bridgewater Associates LP now owns 124,840 shares of the Internet television network’s stock worth $21,831,000 after purchasing an additional 120,815 shares during the last quarter. Duality Advisers LP bought a new position in Netflix during the 1st quarter worth $752,000. Independent Advisor Alliance raised its position in Netflix by 9.2% during the 1st quarter. Independent Advisor Alliance now owns 30,488 shares of the Internet television network’s stock worth $11,420,000 after purchasing an additional 2,570 shares during the last quarter. Finally, Achmea Investment Management B.V. bought a new position in Netflix during the 1st quarter worth $8,484,000. 75.52% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on the company. Piper Sandler increased their price target on Netflix from $215.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, October 19th. StockNews.com started coverage on Netflix in a report on Wednesday, October 12th. They set a “hold” rating for the company. Atlantic Securities upgraded Netflix from a “neutral” rating to an “overweight” rating and raised their target price for the company from $211.00 to $283.00 in a research note on Wednesday, September 28th. Jefferies Financial Group reduced their target price on Netflix from $243.00 to $230.00 in a research note on Wednesday, September 7th. Finally, Benchmark raised their target price on Netflix from $157.00 to $162.00 and gave the company a “sell” rating in a research note on Wednesday, October 19th. Four research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, Netflix has a consensus rating of “Hold” and a consensus target price of $311.13.
Netflix Stock Up 1.7 %
Netflix (NASDAQ:NFLX – Get Rating) last released its quarterly earnings results on Tuesday, October 18th. The Internet television network reported $3.10 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.97. The firm had revenue of $7.93 billion during the quarter, compared to analyst estimates of $7.84 billion. Netflix had a net margin of 16.03% and a return on equity of 27.64%. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the business earned $3.19 EPS. On average, analysts predict that Netflix, Inc. will post 10.27 earnings per share for the current year.
Netflix Company Profile
Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.
- Get a free copy of the StockNews.com research report on Netflix (NFLX)
- Institutional Support for Analog Devices Remains High
- Is the 60/40 Portfolio Mix Still in Vogue?
- Salesforce Cuts Labor, Shows Strong Earnings Despite Challenges
- Three CBD Stocks to Dominate a Budding Industry
- Microsoft Shares: Is it Time to Back Up the Truck?
Receive News & Ratings for Netflix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix and related companies with MarketBeat.com's FREE daily email newsletter.