Netflix (NFLX) Sets New 52-Week High at $398.86

Netflix, Inc. (NASDAQ:NFLX)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $398.86 and last traded at $394.62, with a volume of 498854 shares changing hands. The stock had previously closed at $391.57.

NFLX has been the topic of several recent analyst reports. Piper Jaffray Companies upped their price objective on shares of Netflix from $360.00 to $367.00 in a research note on Tuesday, April 17th. Loop Capital upped their price objective on shares of Netflix from $325.00 to $330.00 in a research note on Tuesday, April 17th. Guggenheim upped their price objective on shares of Netflix from $285.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, March 14th. UBS Group upped their price objective on shares of Netflix from $290.00 to $345.00 and gave the company a “buy” rating in a research note on Monday, March 5th. Finally, Zacks Investment Research raised shares of Netflix from a “hold” rating to a “buy” rating and set a $359.00 price objective on the stock in a research note on Tuesday, March 27th. Four equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. Netflix has an average rating of “Buy” and a consensus price target of $297.58.

The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.63. The company has a market cap of $165.15 billion, a P/E ratio of 313.58, a price-to-earnings-growth ratio of 4.95 and a beta of 1.00.

Netflix (NASDAQ:NFLX) last issued its earnings results on Monday, April 16th. The Internet television network reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.01. Netflix had a net margin of 5.26% and a return on equity of 19.11%. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter last year, the firm posted $0.40 EPS. The business’s revenue for the quarter was up 40.3% compared to the same quarter last year. analysts anticipate that Netflix, Inc. will post 2.88 earnings per share for the current year.

In related news, Director Richard N. Barton sold 700 shares of the firm’s stock in a transaction on Thursday, April 5th. The shares were sold at an average price of $283.39, for a total transaction of $198,373.00. Following the completion of the sale, the director now directly owns 7,393 shares of the company’s stock, valued at approximately $2,095,102.27. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Gregory K. Peters sold 6,377 shares of the firm’s stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $375.00, for a total transaction of $2,391,375.00. Following the sale, the insider now directly owns 19,467 shares of the company’s stock, valued at $7,300,125. The disclosure for this sale can be found here. In the last three months, insiders sold 275,919 shares of company stock worth $90,089,624. Insiders own 4.29% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Trustcore Financial Services LLC grew its holdings in Netflix by 5.9% during the 1st quarter. Trustcore Financial Services LLC now owns 2,933 shares of the Internet television network’s stock valued at $866,000 after purchasing an additional 163 shares in the last quarter. Mason Street Advisors LLC grew its holdings in Netflix by 0.3% during the 1st quarter. Mason Street Advisors LLC now owns 60,448 shares of the Internet television network’s stock valued at $17,853,000 after purchasing an additional 172 shares in the last quarter. Gamco Investors INC. ET AL grew its holdings in Netflix by 5.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 3,439 shares of the Internet television network’s stock valued at $1,016,000 after purchasing an additional 179 shares in the last quarter. Arete Wealth Advisors LLC grew its holdings in Netflix by 5.2% during the 1st quarter. Arete Wealth Advisors LLC now owns 4,013 shares of the Internet television network’s stock valued at $1,185,000 after purchasing an additional 198 shares in the last quarter. Finally, FUKOKU MUTUAL LIFE INSURANCE Co grew its holdings in Netflix by 11.4% during the 1st quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,950 shares of the Internet television network’s stock valued at $576,000 after purchasing an additional 200 shares in the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

About Netflix

Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.

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