Netflix (NASDAQ:NFLX) Stock Price Up 0.2%

Netflix, Inc. (NASDAQ:NFLX)’s share price was up 0.2% on Wednesday . The stock traded as high as $725.09 and last traded at $723.95. Approximately 622,887 shares changed hands during trading, a decline of 83% from the average daily volume of 3,717,717 shares. The stock had previously closed at $722.26.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NFLX shares. Evercore ISI boosted their price objective on shares of Netflix from $710.00 to $750.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 27th. Citigroup boosted their price objective on shares of Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Needham & Company LLC restated a “buy” rating and set a $700.00 price objective on shares of Netflix in a research note on Friday, July 19th. Sanford C. Bernstein boosted their price objective on shares of Netflix from $600.00 to $625.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. Finally, Redburn Atlantic lifted their target price on shares of Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a report on Friday, July 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and an average price target of $685.29.

Netflix Stock Performance

The firm has a market cap of $309.22 billion, a P/E ratio of 50.24, a P/E/G ratio of 1.44 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The company’s 50 day moving average is $665.29 and its 200 day moving average is $642.66.

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

Insider Activity at Netflix

In related news, CEO Gregory K. Peters sold 1,278 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total value of $785,254.32. Following the completion of the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,043,019.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gregory K. Peters sold 1,278 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total transaction of $785,254.32. Following the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $8,043,019.60. The disclosure for this sale can be found here. Insiders sold a total of 197,226 shares of company stock valued at $129,858,692 in the last quarter. Insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Netflix by 0.4% during the first quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock valued at $22,220,936,000 after acquiring an additional 149,341 shares during the last quarter. Capital World Investors raised its stake in Netflix by 0.7% during the fourth quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock worth $5,718,265,000 after buying an additional 78,320 shares during the last quarter. Jennison Associates LLC raised its stake in Netflix by 17.0% during the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after buying an additional 929,193 shares during the last quarter. Baillie Gifford & Co. raised its stake in Netflix by 2.3% during the second quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock worth $3,213,825,000 after buying an additional 106,756 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in Netflix by 1.8% during the fourth quarter. Fisher Asset Management LLC now owns 4,115,613 shares of the Internet television network’s stock worth $2,003,810,000 after buying an additional 72,807 shares during the last quarter. Institutional investors 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.