Netflix (NASDAQ:NFLX) Releases Quarterly Earnings Results, Beats Estimates By $0.77 EPS

Netflix (NASDAQ:NFLX) announced its quarterly earnings results on Thursday. The Internet television network reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.77, Briefing.com reports. Netflix had a net margin of 16.04% and a return on equity of 24.76%. The firm had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. During the same quarter in the previous year, the company posted $2.88 EPS. The company’s revenue was up 14.8% compared to the same quarter last year. Netflix updated its Q2 guidance to $4.68 EPS.

Netflix Price Performance

NFLX stock traded down $3.13 on Thursday, reaching $610.56. 6,996,683 shares of the company’s stock were exchanged, compared to its average volume of 4,278,392. The stock has a fifty day moving average of $604.73 and a 200-day moving average of $511.17. The firm has a market cap of $264.23 billion, a PE ratio of 51.53, a P/E/G ratio of 1.67 and a beta of 1.22. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. Netflix has a twelve month low of $315.62 and a twelve month high of $639.00.

Insider Buying and Selling at Netflix

In other news, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the transaction, the chairman now owns 28 shares in the company, valued at approximately $17,091.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Gregory K. Peters sold 5,352 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $625.00, for a total value of $3,345,000.00. Following the sale, the chief executive officer now owns 13,090 shares in the company, valued at approximately $8,181,250. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 20,566 shares of Netflix stock in a transaction on Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the transaction, the chairman now directly owns 28 shares of the company’s stock, valued at $17,091.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 268,335 shares of company stock valued at $151,619,811. 2.45% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NFLX. Bartlett & CO. Wealth Management LLC boosted its position in shares of Netflix by 9.3% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 295 shares of the Internet television network’s stock worth $145,000 after buying an additional 25 shares in the last quarter. Gordian Capital Singapore Pte Ltd lifted its holdings in shares of Netflix by 0.3% in the second quarter. Gordian Capital Singapore Pte Ltd now owns 9,821 shares of the Internet television network’s stock valued at $4,326,000 after purchasing an additional 25 shares in the last quarter. Coastal Bridge Advisors LLC lifted its holdings in shares of Netflix by 2.2% in the fourth quarter. Coastal Bridge Advisors LLC now owns 1,351 shares of the Internet television network’s stock valued at $658,000 after purchasing an additional 29 shares in the last quarter. Cornerstone Wealth Group LLC grew its position in shares of Netflix by 4.6% in the fourth quarter. Cornerstone Wealth Group LLC now owns 752 shares of the Internet television network’s stock valued at $366,000 after purchasing an additional 33 shares during the last quarter. Finally, BRYN MAWR TRUST Co increased its stake in shares of Netflix by 1.3% during the 1st quarter. BRYN MAWR TRUST Co now owns 2,483 shares of the Internet television network’s stock worth $858,000 after purchasing an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on NFLX shares. StockNews.com raised shares of Netflix from a “hold” rating to a “buy” rating in a research note on Monday, February 26th. Citigroup raised their target price on Netflix from $555.00 to $660.00 and gave the stock a “neutral” rating in a research note on Monday, March 25th. Wedbush upped their price target on Netflix from $615.00 to $725.00 and gave the company an “outperform” rating in a research note on Wednesday, March 27th. Benchmark reaffirmed a “sell” rating and issued a $440.00 target price on shares of Netflix in a research report on Thursday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Netflix from $610.00 to $650.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $614.75.

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.