Netflix (NASDAQ:NFLX) Trading 1.2% Higher – Here’s What Happened

Shares of Netflix, Inc. (NASDAQ:NFLX) traded up 1.2% during trading on Thursday . The company traded as high as $841.00 and last traded at $840.20. 821,488 shares were traded during trading, a decline of 77% from the average session volume of 3,649,261 shares. The stock had previously closed at $830.47.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NFLX. Canaccord Genuity Group raised their price target on shares of Netflix from $750.00 to $760.00 and gave the stock a “hold” rating in a report on Friday, October 18th. Wells Fargo & Company raised their target price on Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Wedbush boosted their price objective on shares of Netflix from $725.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Evercore ISI upped their price objective on shares of Netflix from $750.00 to $775.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Finally, Sanford C. Bernstein lifted their target price on shares of Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and an average target price of $748.15.

Netflix Price Performance

The business has a fifty day moving average of $735.77 and a 200 day moving average of $679.56. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market cap of $352.21 billion, a PE ratio of 46.63, a P/E/G ratio of 1.60 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last released 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. The business had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. Sell-side analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Timothy M. Haley sold 647 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $800.19, for a total transaction of $517,722.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $772.10, for a total transaction of $334,319.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 205,084 shares of company stock worth $146,747,101. Corporate insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Institutional investors have recently made changes to their positions in the stock. Tocqueville Asset Management L.P. grew its stake in Netflix by 17.8% during the 1st quarter. Tocqueville Asset Management L.P. now owns 2,719 shares of the Internet television network’s stock worth $1,651,000 after buying an additional 411 shares during the last quarter. M&G Plc bought a new position in shares of Netflix during the first quarter worth about $9,682,000. Spirepoint Private Client LLC bought a new position in shares of Netflix during the first quarter worth about $237,000. Acadian Asset Management LLC increased its holdings in shares of Netflix by 15.6% in the 1st quarter. Acadian Asset Management LLC now owns 22,840 shares of the Internet television network’s stock worth $13,868,000 after acquiring an additional 3,077 shares during the period. Finally, Blue Barn Wealth LLC lifted its position in Netflix by 5.2% in the 1st quarter. Blue Barn Wealth LLC now owns 1,287 shares of the Internet television network’s stock valued at $782,000 after purchasing an additional 64 shares during the last quarter. 80.93% of the stock is 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.