Netflix (NASDAQ:NFLX) Trading Up 1.6%

Shares of Netflix, Inc. (NASDAQ:NFLX) traded up 1.6% during trading on Wednesday . The stock traded as high as $616.25 and last traded at $615.82. 1,134,430 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 4,380,478 shares. The stock had previously closed at $606.00.

Wall Street Analyst Weigh In

NFLX has been the subject of a number of research analyst reports. Redburn Atlantic raised their price objective on Netflix from $550.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Bank of America upped their price objective on Netflix from $650.00 to $700.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Piper Sandler increased their target price on Netflix from $550.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. BMO Capital Markets restated an “outperform” rating and issued a $713.00 price target (up previously from $638.00) on shares of Netflix in a research report on Wednesday, April 17th. Finally, Macquarie increased their price objective on shares of Netflix from $595.00 to $685.00 and gave the company an “outperform” rating in a research report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and a consensus target price of $631.15.

Netflix Stock Performance

The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $262.66 billion, a price-to-earnings ratio of 42.67, a P/E/G ratio of 1.40 and a beta of 1.23. The business has a 50-day moving average price of $602.85 and a 200-day moving average price of $531.62.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.77. The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the company earned $2.88 earnings per share. As a group, sell-side analysts forecast that Netflix, Inc. will post 18.3 earnings per share for the current year.

Insider Activity

In related news, CEO Theodore A. Sarandos sold 68,957 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $561.33, for a total value of $38,707,632.81. Following the sale, the chief executive officer now owns 1,278 shares in the company, valued at $717,379.74. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Theodore A. Sarandos sold 68,957 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the completion of the transaction, the chief executive officer now owns 1,278 shares of the company’s stock, valued at $717,379.74. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Reed Hastings sold 20,566 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the sale, the chairman now directly owns 28 shares in the company, valued at $17,091.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 155,298 shares of company stock valued at $89,753,167. Company insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Obermeyer Wood Investment Counsel Lllp boosted its stake in Netflix by 2.8% in the 1st quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock worth $378,000 after buying an additional 17 shares during the last quarter. KFA Private Wealth Group LLC grew its position in Netflix by 1.9% during the fourth quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock valued at $466,000 after acquiring an additional 18 shares during the period. Legacy Capital Group California Inc. increased its stake in Netflix by 0.6% during the fourth quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network’s stock worth $1,379,000 after acquiring an additional 18 shares during the last quarter. Founders Financial Alliance LLC lifted its stake in shares of Netflix by 2.4% in the 4th quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock valued at $369,000 after purchasing an additional 18 shares in the last quarter. Finally, Capital Advisors Ltd. LLC increased its position in Netflix by 4.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 411 shares of the Internet television network’s stock worth $250,000 after purchasing an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

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.