Netflix (NASDAQ:NFLX) Shares Up 1.1% – Here’s What Happened

Netflix, Inc. (NASDAQ:NFLX) shot up 1.1% during trading on Tuesday . The company traded as high as $766.00 and last traded at $763.87. 542,753 shares were traded during mid-day trading, a decline of 85% from the average session volume of 3,678,179 shares. The stock had previously closed at $755.51.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on NFLX shares. Wells Fargo & Company raised their target price on Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Morgan Stanley raised their price objective on shares of Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Macquarie reissued an “outperform” rating and issued a $795.00 target price on shares of Netflix in a research note on Friday, October 18th. Canaccord Genuity Group raised their price target on shares of Netflix from $750.00 to $760.00 and gave the stock a “hold” rating in a research note on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $748.15.

Netflix Price Performance

The firm has a market capitalization of $340.49 billion, a price-to-earnings ratio of 45.11, a price-to-earnings-growth ratio of 1.46 and a beta of 1.25. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The company’s fifty day moving average is $717.59 and its two-hundred day moving average is $667.98.

Insider Activity

In related news, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $772.10, for a total transaction of $334,319.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman Reed Hastings sold 45,290 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total value of $31,981,986.40. Following the completion of the transaction, the chairman now owns 85 shares of the company’s stock, valued at $60,023.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $772.10, for a total transaction of $334,319.30. The disclosure for this sale can be found here. Insiders have sold a total of 242,112 shares of company stock valued at $169,954,456 in the last 90 days. 1.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NFLX. Denver PWM LLC acquired a new stake in shares of Netflix during the second quarter worth about $25,000. Proffitt & Goodson Inc. increased its stake in Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. raised its holdings in Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after buying an additional 42 shares during the period. AlphaMark Advisors LLC lifted its stake in Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after buying an additional 45 shares in the last quarter. Finally, Triad Wealth Partners LLC acquired a new position in shares of Netflix in the second quarter valued at approximately $38,000. 80.93% of the stock is owned by institutional investors and hedge funds.

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.