Netflix (NASDAQ:NFLX) Trading 1.4% Higher – Here’s What Happened

Shares of Netflix, Inc. (NASDAQ:NFLX) were up 1.4% during trading on Monday . The stock traded as high as $1,064.50 and last traded at $1,058.60. 3,142,383 shares traded hands during trading, a decline of 33% from the average daily volume of 4,673,093 shares. The stock had previously closed at $1,043.69.

Analysts Set New Price Targets

A number of brokerages have issued reports on NFLX. KeyCorp raised their price target on shares of Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. The Goldman Sachs Group upped their target price on shares of Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft raised their price target on Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a report on Wednesday, January 22nd. Sanford C. Bernstein raised Netflix from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $975.00 to $1,200.00 in a research note on Friday, January 24th. Finally, Wedbush reissued an “outperform” rating and issued a $1,150.00 target price (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Ten investment 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,021.70.

Netflix Stock Up 0.7 %

The stock has a fifty day moving average of $934.75 and a 200-day moving average of $812.56. The firm has a market capitalization of $446.29 billion, a price-to-earnings ratio of 52.61, a PEG ratio of 2.19 and a beta of 1.27. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm’s revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.11 earnings per share. As a group, sell-side analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Buying and Selling

In related news, CEO Gregory K. Peters sold 102,228 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $980.74, for a total value of $100,259,088.72. Following the sale, the chief executive officer now owns 12,950 shares of the company’s stock, valued at $12,700,583. The trade was a 88.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ann Mather sold 2,682 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $973.00, for a total transaction of $2,609,586.00. The disclosure for this sale can be found here. In the last three months, insiders sold 303,220 shares of company stock valued at $289,856,164. Company insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Netflix by 0.5% during the fourth 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 in the last quarter. FMR LLC raised its stake in Netflix by 1.8% in the fourth quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock valued at $18,617,081,000 after buying an additional 375,234 shares during the period. State Street Corp raised its stake in Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after acquiring an additional 426,740 shares during the period. Geode Capital Management LLC lifted its position in Netflix by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock worth $8,287,823,000 after acquiring an additional 175,596 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

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.