Netflix (NASDAQ:NFLX) Trading Up 0.5% – Here’s Why

Netflix, Inc. (NASDAQ:NFLX) shares traded up 0.5% on Friday . The stock traded as high as $962.24 and last traded at $955.92. 2,964,839 shares changed hands during trading, a decline of 14% from the average session volume of 3,457,218 shares. The stock had previously closed at $950.84.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Morgan Stanley upped their price target on shares of Netflix from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Argus upped their price objective on shares of Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Macquarie upped their price objective on shares of Netflix from $965.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Robert W. Baird upped their price objective on shares of Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $1,100.00 price objective (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Netflix has a consensus rating of “Moderate Buy” and an average price target of $1,016.78.

Netflix Price Performance

The stock’s fifty day moving average price is $956.63 and its two-hundred day moving average price is $854.74. The firm has a market capitalization of $410.09 billion, a price-to-earnings ratio of 48.39, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same period last year, the business earned $2.11 EPS. The company’s revenue was up 16.0% on a year-over-year basis. Equities research analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 30,485 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $981.92, for a total value of $29,933,831.20. Following the transaction, the chairman now directly owns 394 shares of the company’s stock, valued at $386,876.48. This trade represents a 98.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Gregory K. Peters sold 4,939 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total transaction of $5,087,170.00. Following the completion of the transaction, the chief executive officer now directly owns 12,950 shares in the company, valued at $13,338,500. This trade represents a 27.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 288,103 shares of company stock valued at $279,142,041 in the last ninety days. Insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NFLX. Prostatis Group LLC boosted its holdings in shares of Netflix by 3.7% in the fourth quarter. Prostatis Group LLC now owns 754 shares of the Internet television network’s stock valued at $672,000 after acquiring an additional 27 shares in the last quarter. M1 Capital Management LLC acquired a new stake in shares of Netflix in the fourth quarter valued at about $320,000. DSG Capital Advisors LLC acquired a new stake in shares of Netflix in the fourth quarter valued at about $5,812,000. 111 Capital acquired a new stake in shares of Netflix in the fourth quarter valued at about $1,586,000. Finally, Members Wealth LLC acquired a new stake in shares of Netflix in the fourth quarter valued at about $201,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

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.