Netflix (NASDAQ:NFLX) Stock Price Up 1.3%

Shares of Netflix, Inc. (NASDAQ:NFLX) shot up 1.3% during trading on Wednesday . The company traded as high as $632.37 and last traded at $630.82. 525,672 shares were traded during mid-day trading, a decline of 87% from the average session volume of 3,926,847 shares. The stock had previously closed at $622.58.

Analysts Set New Price Targets

A number of research firms recently commented on NFLX. Needham & Company LLC reiterated a “buy” rating and issued a $700.00 target price on shares of Netflix in a research note on Friday, July 19th. Evercore ISI lifted their target price on shares of Netflix from $700.00 to $710.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Loop Capital raised their price target on shares of Netflix from $700.00 to $750.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Macquarie reissued an “outperform” rating and set a $685.00 price target on shares of Netflix in a research report on Tuesday, July 16th. Finally, Jefferies Financial Group raised their price target on shares of Netflix from $655.00 to $780.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and an average target price of $681.21.

Netflix Stock Performance

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 stock has a market cap of $269.67 billion, a price-to-earnings ratio of 43.61, a PEG ratio of 1.28 and a beta of 1.27. The firm’s 50-day moving average price is $657.22 and its two-hundred day moving average price is $611.79.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The company had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. Netflix’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.29 EPS. On average, analysts expect that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Insider Activity

In other news, insider David A. Hyman sold 268 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $593.62, for a total value of $159,090.16. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $18,764,328.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Chairman Reed Hastings sold 22,526 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the transaction, the chairman now owns 57 shares in the company, valued at approximately $38,217.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David A. Hyman sold 268 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $593.62, for a total value of $159,090.16. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $18,764,328.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,391 shares of company stock worth $33,988,045. 1.76% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Valued Wealth Advisors LLC grew its stake in shares of Netflix by 80.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after purchasing an additional 20 shares during the last quarter. Proffitt & Goodson Inc. lifted its holdings in shares of Netflix by 380.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after buying an additional 38 shares during the period. AlphaMark Advisors LLC lifted its holdings in shares of Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after buying an additional 45 shares during the period. Indiana Trust & Investment Management CO lifted its holdings in shares of Netflix by 112.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after buying an additional 28 shares during the period. Finally, Triad Wealth Partners LLC acquired a new stake in shares of Netflix in the 2nd quarter valued at approximately $38,000. 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.