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

Shares of Netflix, Inc. (NASDAQ:NFLX) rose 0.9% on Wednesday . The stock traded as high as $832.85 and last traded at $826.47. Approximately 796,404 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 3,653,155 shares. The stock had previously closed at $819.50.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Guggenheim lifted their target price on shares of Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. UBS Group upped their price objective on shares of Netflix from $750.00 to $825.00 and gave the company a “buy” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. increased their target price on shares of Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft upped their price target on Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, Pivotal Research lifted their price objective on Netflix from $900.00 to $925.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $748.15.

Netflix Price Performance

The firm has a 50-day moving average of $729.53 and a 200 day moving average of $676.61. The company has a market capitalization of $357.90 billion, a PE ratio of 47.38, a PEG ratio of 1.60 and a beta of 1.25. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

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

Insider Buying and Selling

In related news, Director Leslie J. Kilgore sold 1,372 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $704.81, for a total value of $966,999.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David A. Hyman sold 267 shares of Netflix stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the transaction, the insider now owns 31,610 shares in the company, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 205,084 shares of company stock valued at $146,747,101 over the last 90 days. Company insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its position in shares of Netflix by 116,620.0% in the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after purchasing an additional 5,748,200 shares during the period. GQG Partners LLC purchased a new position in shares of Netflix during the 1st quarter valued at $1,450,476,000. Assenagon Asset Management S.A. boosted its holdings in Netflix by 154.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after buying an additional 642,920 shares during the period. Jericho Capital Asset Management L.P. purchased a new stake in Netflix in the 1st quarter worth $372,293,000. Finally, Swedbank AB bought a new stake in Netflix during the first quarter valued at about $216,538,000. Institutional investors own 80.93% of the company’s stock.

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.