Netflix (NASDAQ:NFLX) Trading 1.6% Higher

Netflix, Inc. (NASDAQ:NFLX)’s stock price traded up 1.6% during trading on Friday . The company traded as high as $695.44 and last traded at $693.65. 828,954 shares changed hands during trading, a decline of 79% from the average session volume of 3,919,495 shares. The stock had previously closed at $682.51.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. BMO Capital Markets reissued an “outperform” rating and set a $713.00 price objective (up previously from $638.00) on shares of Netflix in a report on Wednesday, April 17th. Wells Fargo & Company increased their price objective on shares of Netflix from $650.00 to $726.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Morgan Stanley increased their price objective on shares of Netflix from $600.00 to $700.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. CICC Research assumed coverage on shares of Netflix in a report on Thursday, May 2nd. They set an “outperform” rating and a $650.00 price objective on the stock. Finally, Pivotal Research increased their price objective on shares of Netflix from $765.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, April 19th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $637.34.

Netflix Stock Up 1.9 %

The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $299.62 billion, a price-to-earnings ratio of 48.14, a P/E/G ratio of 1.47 and a beta of 1.27. The firm’s fifty day simple moving average is $638.25 and its 200 day simple moving average is $589.28.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. During the same period last year, the company earned $2.88 earnings per share. The firm’s revenue was up 14.8% compared to the same quarter last year. On average, sell-side analysts forecast that Netflix, Inc. will post 18.31 earnings per share for the current year.

Insider Activity

In other news, Chairman Reed Hastings sold 22,526 shares of Netflix stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $670.49, for a total value of $15,103,457.74. Following the sale, the chairman now directly owns 57 shares in the company, valued at $38,217.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Spencer Adam Neumann sold 564 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $613.08, for a total value of $345,777.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Reed Hastings sold 22,526 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the completion of the transaction, the chairman now directly owns 57 shares of the company’s stock, valued at $38,217.93. The disclosure for this sale can be found here. Insiders have sold 71,385 shares of company stock worth $44,469,351 over the last ninety days. Insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Spartan Planning & Wealth Management bought a new position in Netflix during the third quarter worth $26,000. Valued Wealth Advisors LLC boosted its position in Netflix by 80.0% during the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 20 shares during the period. VitalStone Financial LLC boosted its position in Netflix by 933.3% during the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after purchasing an additional 56 shares during the period. Beaird Harris Wealth Management LLC boosted its position in Netflix by 1,550.0% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 62 shares during the period. Finally, Scarborough Advisors LLC bought a new position in Netflix during the fourth quarter worth $32,000. 80.93% of the stock is owned by institutional investors.

Netflix Company Profile

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.