Netflix (NASDAQ:NFLX) Trading Up 0.2% – Here’s What Happened

Netflix, Inc. (NASDAQ:NFLX) was up 0.2% on Wednesday . The stock traded as high as $1,011.52 and last traded at $1,009.68. Approximately 957,105 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 4,208,631 shares. The stock had previously closed at $1,008.08.

Analysts Set New Price Targets

A number of analysts recently weighed in on NFLX shares. The Goldman Sachs Group upped their price target on shares of Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Loop Capital boosted their price target on Netflix from $925.00 to $1,000.00 and gave the company a “hold” rating in a report on Wednesday, January 22nd. Piper Sandler restated an “overweight” rating and set a $1,100.00 price objective (up from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Pivotal Research raised their price objective on shares of Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, Argus boosted their price objective on Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,021.70.

Netflix Trading Up 1.1 %

The firm has a market cap of $436.12 billion, a P/E ratio of 51.38, a PEG ratio of 2.11 and a beta of 1.27. The company’s 50 day moving average is $922.08 and its two-hundred day moving average is $797.72. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

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, topping the consensus estimate of $4.20 by $0.07. The company had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. Netflix’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.11 EPS. On average, sell-side analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Activity

In other Netflix news, CAO Jeffrey William Karbowski sold 480 shares of Netflix stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $986.75, for a total transaction of $473,640.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Strive Masiyiwa sold 2,813 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total value of $2,835,138.31. The disclosure for this sale can be found here. In the last 90 days, insiders sold 303,809 shares of company stock worth $290,374,484. 1.76% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Netflix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NFLX. Vanguard Group Inc. boosted its position in Netflix by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock worth $33,413,809,000 after acquiring an additional 171,712 shares during the last quarter. State Street Corp boosted its holdings in Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares during the last quarter. Geode Capital Management LLC grew its position in Netflix by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after purchasing an additional 123,029 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after buying an additional 316,594 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of 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. 80.93% of the stock is owned by institutional investors and hedge funds.

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.