Netflix (NASDAQ:NFLX) Trading 0.9% Higher – Here’s What Happened

Netflix, Inc. (NASDAQ:NFLX) shares were up 0.9% on Tuesday . The stock traded as high as $816.74 and last traded at $812.65. Approximately 816,577 shares were traded during trading, a decline of 78% from the average daily volume of 3,657,078 shares. The stock had previously closed at $805.44.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. China Renaissance initiated coverage on shares of Netflix in a research note on Thursday, September 5th. They issued a “hold” rating and a $680.00 price objective on the stock. Macquarie reiterated an “outperform” rating and set a $795.00 price target on shares of Netflix in a research report on Friday, October 18th. Benchmark reaffirmed a “sell” rating and issued a $545.00 target price on shares of Netflix in a research note on Tuesday, October 15th. Wolfe Research reiterated an “outperform” rating on shares of Netflix in a research note on Friday, October 18th. Finally, Sanford C. Bernstein boosted their price objective on shares of Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and a consensus target price of $748.15.

Netflix Trading Up 0.8 %

The stock has a market cap of $357.90 billion, a PE ratio of 47.26, a price-to-earnings-growth ratio of 1.58 and a beta of 1.25. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a 50-day moving average price of $729.53 and a 200-day moving average price of $676.61.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The firm had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. As a group, equities analysts anticipate that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Insider Activity

In other news, CEO Gregory K. Peters sold 4,644 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $700.00, for a total value of $3,250,800.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $9,163,000. The trade was a 26.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Reed Hastings sold 45,290 shares of the stock in a transaction on Tuesday, October 1st. The stock was 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 99.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 205,084 shares of company stock valued at $146,747,101. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several hedge funds have recently made changes to their positions in NFLX. DigitalBridge Group Inc. lifted its position in shares of Netflix by 35.5% in the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after acquiring an additional 9,451 shares during the period. M&G Plc bought a new position in shares of Netflix during the first quarter worth about $9,682,000. Venturi Wealth Management LLC increased its stake in shares of Netflix by 27.5% during the third quarter. Venturi Wealth Management LLC now owns 3,077 shares of the Internet television network’s stock worth $2,182,000 after purchasing an additional 664 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Netflix by 58.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock worth $55,968,000 after acquiring an additional 30,511 shares during the period. Finally, Forsta AP Fonden boosted its holdings in shares of Netflix by 7.7% in the 3rd quarter. Forsta AP Fonden now owns 121,400 shares of the Internet television network’s stock valued at $86,105,000 after purchasing an additional 8,700 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

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.