Netflix (NASDAQ:NFLX) Stock Price Up 1.9%

Netflix, Inc. (NASDAQ:NFLX)’s stock price was up 1.9% on Monday . The stock traded as high as $591.91 and last traded at $590.28. Approximately 1,201,897 shares were traded during trading, a decline of 73% from the average daily volume of 4,398,320 shares. The stock had previously closed at $579.34.

Analysts Set New Price Targets

Several analysts have commented on NFLX shares. Canaccord Genuity Group downgraded shares of Netflix from a “buy” rating to a “hold” rating and dropped their target price for the stock from $720.00 to $585.00 in a report on Friday, April 19th. Bank of America lifted their price target on Netflix from $650.00 to $700.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Needham & Company LLC upgraded Netflix from a “hold” rating to a “buy” rating and set a $700.00 price objective for the company in a report on Friday, April 19th. JPMorgan Chase & Co. upped their price target on Netflix from $610.00 to $650.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Netflix from $525.00 to $550.00 and gave the stock a “hold” rating in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and an average target price of $631.15.

Netflix Price Performance

The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $262.66 billion, a price-to-earnings ratio of 42.29, a PEG ratio of 1.40 and a beta of 1.23. The business has a fifty day moving average price of $602.85 and a 200 day moving average price of $531.62.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping the consensus estimate of $4.51 by $0.77. The firm had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.88 earnings per share. As a group, research analysts anticipate that Netflix, Inc. will post 18.3 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider David A. Hyman sold 268 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $593.62, for a total transaction of $159,090.16. Following the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $18,764,328.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider David A. Hyman sold 268 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $593.62, for a total value of $159,090.16. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at approximately $18,764,328.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Theodore A. Sarandos sold 68,957 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the sale, the chief executive officer now directly owns 1,278 shares in the company, valued at $717,379.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 155,298 shares of company stock valued at $89,753,167. 1.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Netflix

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new position in Netflix during the fourth quarter worth $2,558,598,000. Wellington Management Group LLP grew its stake in Netflix by 540.9% during the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after purchasing an additional 3,273,592 shares during the period. International Assets Investment Management LLC lifted its stake in Netflix by 15,039.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock valued at $1,010,553,000 after buying an additional 2,061,859 shares during the period. Jennison Associates LLC boosted its holdings in shares of Netflix by 40.6% during the 4th quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after buying an additional 1,573,978 shares in the last quarter. Finally, Global Assets Advisory LLC bought a new stake in shares of Netflix in the 1st quarter valued at $436,514,000. 80.93% of the stock is currently owned by institutional investors.

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.