Netflix (NASDAQ:NFLX) Trading Up 1.9% – Here’s Why

Shares of Netflix, Inc. (NASDAQ:NFLX) were up 1.9% on Friday . The stock traded as high as $859.79 and last traded at $858.49. Approximately 1,137,965 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 2,983,082 shares. The stock had previously closed at $842.37.

Wall Street Analyst Weigh In

NFLX has been the topic of several research analyst reports. Evercore ISI upped their target price on Netflix from $775.00 to $950.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. Canaccord Genuity Group lifted their price objective on shares of Netflix from $760.00 to $940.00 and gave the company a “hold” rating in a research note on Monday, December 2nd. Benchmark raised their price target on shares of Netflix from $555.00 to $720.00 and gave the stock a “sell” rating in a report on Friday, January 3rd. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $680.00 price objective on shares of Netflix in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $845.06.

Netflix Stock Performance

The firm has a market cap of $366.80 billion, a PE ratio of 48.56, a PEG ratio of 1.35 and a beta of 1.27. 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 company has a 50-day simple moving average of $884.58 and a two-hundred day simple moving average of $758.48.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share 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 company had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. As a group, equities research analysts forecast that Netflix, Inc. will post 19.78 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other Netflix news, insider David A. Hyman sold 267 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the sale, the insider now directly owns 31,610 shares in the company, valued at $24,202,828.70. The trade was a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Reed Hastings sold 48,363 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total value of $43,362,265.80. Following the transaction, the chairman now owns 114 shares of the company’s stock, valued at $102,212.40. The trade was a 99.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 152,198 shares of company stock worth $127,616,898 over the last three months. 1.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Netflix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisory Resource Group raised its position in shares of Netflix by 0.7% in the third quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network’s stock valued at $1,238,000 after purchasing an additional 12 shares during the period. Insight Wealth Strategies LLC grew its stake in Netflix by 1.9% in the 4th quarter. Insight Wealth Strategies LLC now owns 656 shares of the Internet television network’s stock valued at $585,000 after buying an additional 12 shares in the last quarter. Sunflower Bank N.A. raised its holdings in Netflix by 2.1% during the 4th quarter. Sunflower Bank N.A. now owns 575 shares of the Internet television network’s stock valued at $513,000 after acquiring an additional 12 shares during the period. D.B. Root & Company LLC lifted its position in shares of Netflix by 4.1% during the fourth quarter. D.B. Root & Company LLC now owns 331 shares of the Internet television network’s stock worth $295,000 after acquiring an additional 13 shares in the last quarter. Finally, New World Advisors LLC boosted its holdings in shares of Netflix by 2.0% in the third quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock worth $514,000 after acquiring an additional 14 shares during the period. 80.93% of the stock is currently owned by 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.