Netflix (NASDAQ:NFLX) Shares Up 0.9% – Here’s Why

Netflix, Inc. (NASDAQ:NFLX)’s share price rose 0.9% during trading on Tuesday . The company traded as high as $816.74 and last traded at $812.65. Approximately 816,577 shares changed hands during trading, a decline of 78% from the average daily volume of 3,657,078 shares. The stock had previously closed at $805.44.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NFLX shares. Guggenheim increased their price target on Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Wolfe Research restated an “outperform” rating on shares of Netflix in a research note on Friday, October 18th. Barclays reiterated an “underweight” rating and set a $550.00 price objective on shares of Netflix in a research note on Friday, October 18th. Bank of America boosted their target price on shares of Netflix from $740.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Macquarie restated an “outperform” rating and set a $795.00 price target on shares of Netflix in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $748.15.

Netflix Stock Up 1.7 %

The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market capitalization of $350.30 billion, a price-to-earnings ratio of 45.99, a PEG ratio of 1.53 and a beta of 1.25. The business has a 50-day simple moving average of $723.63 and a two-hundred day simple moving average of $673.70.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.09 by $0.31. The firm had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. As a group, equities analysts predict that Netflix, Inc. will post 19.78 EPS for the current year.

Insider Activity

In other news, insider David A. Hyman sold 13,791 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total transaction of $9,653,700.00. Following the transaction, the insider now owns 31,610 shares in the company, valued at $22,127,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider David A. Hyman sold 13,791 shares of Netflix stock in a transaction dated Tuesday, August 20th. The stock was 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 directly owns 31,610 shares of the company’s stock, valued at $22,127,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $24,202,828.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 204,437 shares of company stock worth $146,229,378. Corporate insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Institutional investors and hedge funds have recently bought and sold shares of the company. Denver PWM LLC acquired a new position in shares of Netflix during the second quarter worth approximately $25,000. Proffitt & Goodson Inc. grew its position in shares of Netflix by 380.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after buying an additional 38 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its position in Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after buying an additional 42 shares during the period. AlphaMark Advisors LLC lifted its stake in Netflix by 642.9% during the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after acquiring an additional 45 shares during the period. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of Netflix in the 3rd quarter worth $37,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

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.