Netflix (NASDAQ:NFLX) Trading Up 0.8% Following Earnings Beat

Netflix, Inc. (NASDAQ:NFLX)’s share price shot up 0.8% during mid-day trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $678.97 and last traded at $648.45. 4,500,229 shares traded hands during trading, an increase of 15% from the average session volume of 3,922,723 shares. The stock had previously closed at $643.04.

The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The firm had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the firm posted $3.29 EPS.

Analysts Set New Price Targets

NFLX has been the topic of a number of research reports. Macquarie reissued an “outperform” rating and issued a $685.00 price objective on shares of Netflix in a report on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $700.00 price objective on shares of Netflix in a report on Friday. Loop Capital raised their price objective on shares of Netflix from $700.00 to $750.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Sanford C. Bernstein raised their target price on shares of Netflix from $600.00 to $625.00 and gave the stock a “market perform” rating in a research note on Friday. Finally, Argus raised their target price on shares of Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, Netflix has an average rating of “Moderate Buy” and a consensus price target of $661.71.

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 22,526 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 57 shares in the company, valued at $38,217.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Netflix news, insider David A. Hyman sold 268 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $593.62, for a total value of $159,090.16. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $18,764,328.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 22,526 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was 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 owns 57 shares of the company’s stock, valued at $38,217.93. The disclosure for this sale can be found here. Insiders sold 71,385 shares of company stock worth $44,469,351 over the last three months. 1.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Netflix

Hedge funds have recently modified their holdings of the stock. Columbia Trust Co 01012016 increased its holdings in shares of Netflix by 15.3% during the fourth quarter. Columbia Trust Co 01012016 now owns 1,566 shares of the Internet television network’s stock valued at $762,000 after acquiring an additional 208 shares in the last quarter. Crumly & Associates Inc. boosted its position in Netflix by 4.1% in the fourth quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network’s stock valued at $1,025,000 after buying an additional 83 shares during the last quarter. Venture Visionary Partners LLC boosted its position in Netflix by 15.4% in the fourth quarter. Venture Visionary Partners LLC now owns 9,849 shares of the Internet television network’s stock valued at $4,795,000 after buying an additional 1,318 shares during the last quarter. Sandy Cove Advisors LLC boosted its position in Netflix by 10.6% in the fourth quarter. Sandy Cove Advisors LLC now owns 1,187 shares of the Internet television network’s stock valued at $578,000 after buying an additional 114 shares during the last quarter. Finally, Malaga Cove Capital LLC boosted its position in Netflix by 25.4% in the fourth quarter. Malaga Cove Capital LLC now owns 1,562 shares of the Internet television network’s stock valued at $761,000 after buying an additional 316 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Trading Up 1.2 %

The stock has a 50-day moving average of $655.28 and a 200 day moving average of $601.42. The stock has a market cap of $280.43 billion, a PE ratio of 45.00, a price-to-earnings-growth ratio of 1.40 and a beta of 1.27. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

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.