Netflix (NASDAQ:NFLX) Shares Up 1.2% – Here’s What Happened

Netflix, Inc. (NASDAQ:NFLXGet Free Report)’s share price shot up 1.2% during trading on Thursday . The stock traded as high as $841.00 and last traded at $840.20. 821,488 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 3,649,261 shares. The stock had previously closed at $830.47.

Analyst Ratings Changes

NFLX has been the topic of several research analyst reports. Needham & Company LLC boosted their target price on shares of Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Bank of America raised their target price on Netflix from $740.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Morgan Stanley increased their price objective on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Benchmark reaffirmed a “sell” rating and issued a $545.00 price objective on shares of Netflix in a report on Tuesday, October 15th. Finally, Sanford C. Bernstein upped their target price on shares of Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $748.15.

Check Out Our Latest Report on NFLX

Netflix Stock Up 0.6 %

The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm’s fifty day moving average price is $729.53 and its 200-day moving average price is $676.61. The company has a market cap of $357.21 billion, a price-to-earnings ratio of 47.55, a price-to-earnings-growth ratio of 1.58 and a beta of 1.25.

Netflix (NASDAQ:NFLXGet Free Report) last released its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. Sell-side analysts predict that Netflix, Inc. will post 19.78 earnings per share for the current year.

Insider Activity

In related news, insider David A. Hyman sold 13,791 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $700.00, for a total transaction of $9,653,700.00. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $22,127,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider David A. Hyman sold 13,791 shares of Netflix stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total value of $9,653,700.00. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at $22,127,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Timothy M. Haley sold 647 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $800.19, for a total value of $517,722.93. The disclosure for this sale can be found here. Insiders have sold a total of 205,084 shares of company stock worth $146,747,101 over the last three months. Corporate insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several institutional investors and hedge funds have recently bought and sold shares of NFLX. New World Advisors LLC increased its position in shares of Netflix by 2.0% during the 3rd quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock valued at $514,000 after purchasing an additional 14 shares during the last quarter. Heartland Bank & Trust Co increased its holdings in shares of Netflix by 0.9% during the second quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock valued at $1,195,000 after acquiring an additional 15 shares in the last quarter. Cedrus LLC grew its holdings in shares of Netflix by 0.8% during the third quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock valued at $1,263,000 after buying an additional 15 shares during the last quarter. Capstone Triton Financial Group LLC boosted its stake in shares of Netflix by 0.6% in the third quarter. Capstone Triton Financial Group LLC now owns 2,421 shares of the Internet television network’s stock worth $1,717,000 after buying an additional 15 shares during the last quarter. Finally, Meritas Wealth Management LLC increased its stake in shares of Netflix by 2.9% in the 3rd quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock worth $406,000 after acquiring an additional 16 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Netflix Company Profile

(Get Free Report)

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.

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