Netflix (NASDAQ:NFLX) Stock Price Up 1% – Here’s What Happened

Netflix, Inc. (NASDAQ:NFLX) shares were up 1% during mid-day trading on Tuesday . The stock traded as high as $921.38 and last traded at $920.98. Approximately 701,484 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 3,595,220 shares. The stock had previously closed at $911.45.

Analyst Ratings Changes

Several research firms recently commented on NFLX. Wolfe Research reissued an “outperform” rating on shares of Netflix in a research note on Friday, October 18th. Canaccord Genuity Group raised their price objective on Netflix from $760.00 to $940.00 and gave the stock a “hold” rating in a research note on Monday, December 2nd. Bank of America boosted their target price on Netflix from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Guggenheim lifted their price target on Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Finally, Barclays reaffirmed an “underweight” rating and set a $550.00 price objective on shares of Netflix in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average price target of $807.70.

Netflix Stock Performance

The stock’s 50-day moving average price is $845.85 and its 200 day moving average price is $734.99. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The company has a market cap of $398.44 billion, a P/E ratio of 52.75, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its 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 firm had revenue of $9.82 billion during 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 expect that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Leslie J. Kilgore sold 383 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the sale, the director now owns 35,262 shares in the company, valued at approximately $25,741,260. This trade represents a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 45,290 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total value of $31,981,986.40. Following the transaction, the chairman now owns 85 shares in the company, valued at $60,023.60. This represents a 99.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 160,183 shares of company stock valued at $125,841,817 in the last three months. Company insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. DigitalBridge Group Inc. raised its stake in shares of Netflix by 35.5% in the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after buying an additional 9,451 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Netflix by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock valued at $1,829,494,000 after purchasing an additional 29,726 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of Netflix by 2.0% in the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock valued at $434,398,000 after purchasing an additional 11,921 shares during the period. Kestra Investment Management LLC acquired a new position in shares of Netflix in the 3rd quarter worth approximately $1,517,000. Finally, M&T Bank Corp lifted its position in shares of Netflix by 4.2% during the 3rd quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after buying an additional 1,684 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.