Netflix (NASDAQ:NFLX) Stock Price Up 1.5%

Netflix, Inc. (NASDAQ:NFLX)’s stock price rose 1.5% on Thursday . The company traded as high as $646.71 and last traded at $637.82. Approximately 1,125,753 shares changed hands during trading, a decline of 71% from the average daily volume of 3,924,072 shares. The stock had previously closed at $628.35.

Wall Street Analysts Forecast Growth

NFLX has been the subject of a number of research reports. Barclays raised their target price on shares of Netflix from $475.00 to $550.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Canaccord Genuity Group lowered shares of Netflix from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $720.00 to $585.00 in a research note on Friday, April 19th. CICC Research assumed coverage on shares of Netflix in a research note on Thursday, May 2nd. They issued an “outperform” rating and a $650.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Netflix from $525.00 to $550.00 and gave the stock a “hold” rating in a research note on Monday, April 15th. Finally, Redburn Atlantic raised their price objective on shares of Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and an average target price of $681.21.

Netflix Stock Performance

The stock has a market cap of $263.36 billion, a price-to-earnings ratio of 42.58, a P/E/G ratio of 1.28 and a beta of 1.27. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The firm has a fifty day simple moving average of $656.10 and a 200-day simple moving average of $612.84.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating the consensus estimate of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The company had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. During the same period last year, the firm earned $3.29 EPS. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. Analysts forecast that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Spencer Adam Neumann sold 564 shares of Netflix stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $613.08, for a total transaction of $345,777.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Reed Hastings sold 25,599 shares of the company’s stock in a transaction dated 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 sale, the chairman now owns 57 shares in the company, valued at $35,991.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 sold a total of 73,415 shares of company stock valued at $47,477,222 over the last three months. Company insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Netflix in the fourth quarter valued at approximately $2,558,598,000. Wellington Management Group LLP grew its position in Netflix by 540.9% during the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after buying an additional 3,273,592 shares in the last quarter. GQG Partners LLC bought a new stake in Netflix during the first quarter worth $1,450,476,000. Jennison Associates LLC lifted its stake 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 purchasing an additional 1,573,978 shares during the last quarter. Finally, Global Assets Advisory LLC bought a new stake in Netflix during the first quarter worth $436,514,000. Institutional investors and hedge funds 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.