Netflix (NASDAQ:NFLX) Trading Up 0.9% – What’s Next?

Netflix, Inc. (NASDAQ:NFLX)’s share price was up 0.9% during mid-day trading on Wednesday . The company traded as high as $832.85 and last traded at $826.47. Approximately 796,404 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 3,653,155 shares. The stock had previously closed at $819.50.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NFLX. China Renaissance began coverage on shares of Netflix in a research note on Thursday, September 5th. They set a “hold” rating and a $680.00 target price on the stock. Jefferies Financial Group lifted their target price on shares of Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Piper Sandler reaffirmed an “overweight” rating and set a $840.00 target price (up previously from $800.00) on shares of Netflix in a research note on Friday, October 18th. Macquarie reaffirmed an “outperform” rating and set a $795.00 target price on shares of Netflix in a research note on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $748.15.

Netflix Stock Performance

The stock has a market capitalization of $356.94 billion, a PE ratio of 47.00, a price-to-earnings-growth ratio of 1.58 and a beta of 1.25. The firm’s fifty day moving average is $726.52 and its 200-day moving average is $675.52. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. As a group, research analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Leslie J. Kilgore sold 1,372 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $704.81, for a total value of $966,999.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Netflix news, CEO Gregory K. Peters sold 4,644 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total value of $3,250,800.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $9,163,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leslie J. Kilgore sold 1,372 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $704.81, for a total value of $966,999.32. The disclosure for this sale can be found here. In the last ninety days, insiders have 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

Large investors have recently added to or reduced their stakes in the company. Denver PWM LLC acquired a new stake in Netflix in the second quarter worth $25,000. Proffitt & Goodson Inc. increased its position in Netflix by 380.0% in the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after buying an additional 38 shares during the period. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after purchasing an additional 42 shares during the period. AlphaMark Advisors LLC increased its holdings in shares of Netflix by 642.9% during the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after purchasing an additional 45 shares during the period. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of Netflix during the third quarter valued at $37,000. 80.93% of the stock is currently owned by institutional investors.

About Netflix

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.