Netflix (NASDAQ:NFLX) Shares Up 0.8%

Netflix, Inc. (NASDAQ:NFLX)’s share price was up 0.8% during trading on Wednesday . The company traded as high as $680.12 and last traded at $677.51. Approximately 1,044,893 shares were traded during trading, a decline of 74% from the average daily volume of 3,989,300 shares. The stock had previously closed at $672.41.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Sanford C. Bernstein lifted their price objective on Netflix from $490.00 to $600.00 and gave the stock a “market perform” rating in a research note on Friday, April 19th. Oppenheimer reissued an “outperform” rating and set a $725.00 target price on shares of Netflix in a research report on Friday, April 19th. Loop Capital boosted their price objective on shares of Netflix from $700.00 to $750.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Jefferies Financial Group restated a “buy” rating and issued a $655.00 target price on shares of Netflix in a report on Wednesday, May 15th. Finally, UBS Group increased their price objective on shares of Netflix from $570.00 to $685.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $633.53.

Netflix Trading Up 1.1 %

The company’s 50-day moving average price is $623.78 and its 200 day moving average price is $580.61. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market cap of $293.08 billion, a PE ratio of 47.02, a price-to-earnings-growth ratio of 1.45 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The firm had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. During the same quarter last year, the company posted $2.88 EPS. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. On average, sell-side analysts forecast that Netflix, Inc. will post 18.31 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In other Netflix news, Chairman Reed Hastings sold 20,566 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the sale, the chairman now owns 28 shares in the company, valued at approximately $17,091.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction on 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 transaction, the chairman now owns 28 shares of the company’s stock, valued at $17,091.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anne M. Sweeney sold 633 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total value of $354,480.00. The disclosure for this sale can be found here. Insiders sold 69,425 shares of company stock valued at $41,919,791 in the last 90 days. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several large investors have recently modified their holdings of the company. Norges Bank acquired a new stake in Netflix during the 4th quarter worth $2,558,598,000. Wellington Management Group LLP grew its stake in shares of Netflix by 540.9% during the 4th quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after purchasing an additional 3,273,592 shares during the period. GQG Partners LLC purchased a new position in shares of Netflix in the 1st quarter valued at about $1,450,476,000. International Assets Investment Management LLC lifted its stake in shares of Netflix by 15,039.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock valued at $1,010,553,000 after purchasing an additional 2,061,859 shares during the period. Finally, Jennison Associates LLC boosted its holdings in Netflix by 40.6% during the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after buying an additional 1,573,978 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

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.