Netflix (NASDAQ:NFLX) Shares Up 1.7%

Shares of Netflix, Inc. (NASDAQ:NFLX) rose 1.7% during trading on Tuesday . The company traded as high as $611.05 and last traded at $608.92. Approximately 1,038,038 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 3,921,697 shares. The stock had previously closed at $598.55.

Analysts Set New Price Targets

NFLX has been the subject of a number of research reports. Morgan Stanley lifted their price objective on Netflix from $700.00 to $780.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Barclays lifted their price objective on Netflix from $475.00 to $550.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Jefferies Financial Group lifted their price objective on Netflix from $655.00 to $780.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Argus lifted their price objective on Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Finally, Rosenblatt Securities lifted their price objective on Netflix from $554.00 to $635.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $681.21.

Netflix Price Performance

The stock has a market cap of $262.72 billion, a price-to-earnings ratio of 42.26, a price-to-earnings-growth ratio of 1.28 and a beta of 1.27. The company has a 50-day simple moving average of $655.13 and a two-hundred day simple moving average of $615.50. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping the consensus estimate of $4.74 by $0.14. The firm 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%. The business’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.29 EPS. As a group, equities research analysts forecast that Netflix, Inc. will post 19.08 EPS for the current year.

Insiders Place Their Bets

In related news, Chairman Reed Hastings sold 25,599 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the transaction, the chairman now directly owns 57 shares of the company’s stock, valued at approximately $35,991.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman Reed Hastings sold 25,599 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the transaction, the chairman now directly owns 57 shares of the company’s stock, valued at approximately $35,991.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Spencer Adam Neumann sold 564 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $613.08, for a total value of $345,777.12. The disclosure for this sale can be found here. Insiders have sold 73,415 shares of company stock valued at $47,477,222 in the last 90 days. 1.76% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Denver PWM LLC acquired a new position in Netflix in the 2nd quarter valued at $25,000. Valued Wealth Advisors LLC grew its holdings in 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 buying an additional 20 shares in the last quarter. VitalStone Financial LLC grew its holdings in Netflix by 933.3% in the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after buying an additional 56 shares in the last quarter. Beaird Harris Wealth Management LLC grew its holdings in Netflix by 1,550.0% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after buying an additional 62 shares in the last quarter. Finally, Scarborough Advisors LLC acquired a new position in Netflix in the 4th quarter valued at $32,000. 80.93% of the stock is 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.