Netflix (NASDAQ:NFLX) Trading Up 0.9%

Netflix, Inc. (NASDAQ:NFLX) shares were up 0.9% during mid-day trading on Thursday . The stock traded as high as $619.80 and last traded at $618.92. Approximately 1,160,580 shares changed hands during trading, a decline of 72% from the average daily volume of 4,198,756 shares. The stock had previously closed at $613.69.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NFLX shares. Seaport Res Ptn downgraded Netflix from a “buy” rating to a “neutral” rating in a report on Tuesday, January 30th. Guggenheim upped their price objective on Netflix from $600.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday. Pivotal Research upped their price objective on Netflix from $700.00 to $765.00 and gave the company a “buy” rating in a report on Friday, April 5th. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a report on Monday, February 26th. Finally, Wedbush upped their price objective on Netflix from $615.00 to $725.00 and gave the company an “outperform” rating in a report on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and an average price target of $614.75.

Netflix Stock Performance

The firm has a market capitalization of $263.05 billion, a price-to-earnings ratio of 51.53, a PEG ratio of 1.67 and a beta of 1.22. The company has a fifty day moving average of $604.73 and a two-hundred day moving average of $511.17. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.12 and a current ratio of 1.12.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 earnings per share for the quarter, missing the consensus estimate of $2.20 by ($0.09). The firm had revenue of $8.83 billion for the quarter, compared to analyst estimates of $8.72 billion. Netflix had a return on equity of 24.76% and a net margin of 16.04%. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.12 earnings per share. As a group, equities research analysts predict that Netflix, Inc. will post 17.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Netflix news, insider David A. Hyman sold 47,574 shares of the firm’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $17,003,651.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Netflix news, CEO Gregory K. Peters sold 5,352 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $625.00, for a total transaction of $3,345,000.00. Following the transaction, the chief executive officer now owns 13,090 shares in the company, valued at approximately $8,181,250. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider David A. Hyman sold 47,574 shares of the firm’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total value of $25,591,006.08. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $17,003,651.20. The disclosure for this sale can be found here. Insiders have sold a total of 268,335 shares of company stock worth $151,619,811 in the last 90 days. Company insiders own 2.45% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several hedge funds and other institutional investors have recently modified their holdings of the business. Authentikos Wealth Advisory LLC acquired a new stake in shares of Netflix during the 3rd quarter valued at $25,000. Spartan Planning & Wealth Management acquired a new position in shares of Netflix in the 3rd quarter valued at about $26,000. Carmel Capital Partners LLC lifted its stake in shares of Netflix by 290.0% in the 3rd quarter. Carmel Capital Partners LLC now owns 78 shares of the Internet television network’s stock valued at $30,000 after purchasing an additional 58 shares during the period. VitalStone Financial LLC lifted its stake in shares of Netflix by 933.3% in the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after purchasing an additional 56 shares during the period. Finally, Beaird Harris Wealth Management LLC lifted its stake in shares of Netflix by 1,550.0% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 62 shares during the period. 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.