Netflix (NASDAQ:NFLX) Trading Up 0.1% – Here’s What Happened

Shares of Netflix, Inc. (NASDAQ:NFLX) shot up 0.1% during mid-day trading on Thursday . The company traded as high as $898.58 and last traded at $892.48. 653,082 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 3,583,552 shares. The stock had previously closed at $891.32.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NFLX. Benchmark boosted their target price on shares of Netflix from $555.00 to $720.00 and gave the stock a “sell” rating in a research report on Friday. Rosenblatt Securities increased their target price on Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $825.00 price target (up from $770.00) on shares of Netflix in a report on Friday, October 18th. Finally, Wolfe Research reissued an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $813.00.

Netflix Trading Down 0.6 %

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 firm has a market capitalization of $376.61 billion, a price-to-earnings ratio of 49.86, a P/E/G ratio of 1.77 and a beta of 1.27. The business has a 50-day moving average of $866.57 and a two-hundred day moving average of $746.14.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping the consensus estimate of $5.09 by $0.31. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. Research analysts predict that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Insider Activity

In related news, CEO Gregory K. Peters sold 4,186 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $750.00, for a total transaction of $3,139,500.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $9,817,500. The trade was a 24.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Timothy M. Haley sold 11,090 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total value of $8,405,776.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 150,761 shares of company stock worth $125,713,484. 1.76% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Netflix

Large investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its stake in Netflix by 116,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after acquiring an additional 5,748,200 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Netflix by 154.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after purchasing an additional 642,920 shares during the last quarter. State Street Corp grew its position in Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after purchasing an additional 426,740 shares in the last quarter. Jennison Associates LLC increased its stake in Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after buying an additional 316,594 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in Netflix during the 3rd quarter worth about $222,871,000. 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.