Netflix (NASDAQ:NFLX) Trading Up 0.6%

Netflix, Inc. (NASDAQ:NFLX)’s share price rose 0.6% on Wednesday . The stock traded as high as $652.42 and last traded at $646.45. Approximately 1,517,674 shares were traded during trading, a decline of 61% from the average daily volume of 3,940,125 shares. The stock had previously closed at $642.76.

Wall Street Analysts Forecast Growth

NFLX has been the topic of several analyst reports. Needham & Company LLC restated a “buy” rating and set a $700.00 price target on shares of Netflix in a report on Friday, July 19th. Canaccord Genuity Group cut shares of Netflix from a “buy” rating to a “hold” rating and cut their price target for the stock from $720.00 to $585.00 in a report on Friday, April 19th. CICC Research began coverage on shares of Netflix in a report on Thursday, May 2nd. They set an “outperform” rating and a $650.00 price target on the stock. Canaccord Genuity Group reiterated a “hold” rating and issued a $585.00 target price (down from $720.00) on shares of Netflix in a research note on Friday, April 19th. Finally, Evercore ISI boosted their target price on shares of Netflix from $700.00 to $710.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $681.21.

Netflix Stock Performance

The firm has a market capitalization of $272.13 billion, a P/E ratio of 44.00, a price-to-earnings-growth ratio of 1.30 and a beta of 1.27. The company has a current ratio of 0.95, a quick ratio of 1.07 and a debt-to-equity ratio of 0.55. The business’s 50 day simple moving average is $657.85 and its two-hundred day simple moving average is $607.11.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The business had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. Netflix’s revenue was up 16.8% compared to the same quarter last year. During the same period last year, the business earned $3.29 EPS. Sell-side analysts anticipate that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, Chairman Reed Hastings sold 22,526 shares of Netflix stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $670.49, for a total value of $15,103,457.74. Following the completion of the sale, the chairman now directly owns 57 shares in the company, valued at $38,217.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Reed Hastings sold 22,526 shares of Netflix stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $670.49, for a total value of $15,103,457.74. Following the completion of the sale, the chairman now directly owns 57 shares in the company, valued at $38,217.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David A. Hyman sold 268 shares of Netflix stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $593.62, for a total transaction of $159,090.16. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at $18,764,328.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,385 shares of company stock worth $44,469,351. 1.76% of the stock is owned by corporate insiders.

Institutional Trading of Netflix

Large investors have recently made changes to their positions in the stock. Valued Wealth Advisors LLC grew its stake in shares of Netflix by 80.0% in the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 20 shares during the period. VitalStone Financial LLC boosted its holdings in shares of Netflix by 933.3% in the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after buying an additional 56 shares during the last quarter. Beaird Harris Wealth Management LLC boosted its holdings in shares of Netflix by 1,550.0% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after buying an additional 62 shares during the last quarter. Scarborough Advisors LLC purchased a new position in shares of Netflix in the fourth quarter worth approximately $32,000. Finally, Indiana Trust & Investment Management CO boosted its holdings in shares of Netflix by 112.0% in the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after buying an additional 28 shares during the last quarter. 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.