Netflix (NASDAQ:NFLX) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Netflix (NASDAQ:NFLXGet Free Report) released its quarterly earnings results on Thursday. The Internet television network reported $0.80 EPS for the quarter, beating the consensus estimate of $0.79 by $0.01, FiscalAI reports. Netflix had a net margin of 28.52% and a return on equity of 40.92%. The business had revenue of $12.56 billion during the quarter, compared to analyst estimates of $12.58 billion.

Netflix Price Performance

NASDAQ:NFLX traded up $0.67 during trading hours on Thursday, hitting $74.35. 62,337,775 shares of the stock were exchanged, compared to its average volume of 44,906,895. The firm’s fifty day moving average price is $80.80 and its 200 day moving average price is $87.17. Netflix has a 52-week low of $70.86 and a 52-week high of $127.75. The company has a market cap of $313.07 billion, a P/E ratio of 24.01, a P/E/G ratio of 0.93 and a beta of 1.52. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.43.

Insider Buying and Selling

In other Netflix news, CFO Spencer Adam Neumann sold 9,253 shares of Netflix stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $88.95, for a total transaction of $823,054.35. Following the sale, the chief financial officer owned 73,787 shares of the company’s stock, valued at $6,563,353.65. The trade was a 11.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gregory K. Peters sold 27,312 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $88.69, for a total transaction of $2,422,301.28. Following the sale, the chief executive officer directly owned 120,931 shares of the company’s stock, valued at approximately $10,725,370.39. This represents a 18.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 899,839 shares of company stock worth $80,141,661 in the last ninety days. Company insiders own 1.24% of the company’s stock.

Institutional Investors Weigh In On Netflix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sivia Capital Partners LLC boosted its stake in shares of Netflix by 21.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,406 shares of the Internet television network’s stock worth $1,883,000 after acquiring an additional 246 shares in the last quarter. Schnieders Capital Management LLC. increased its stake in Netflix by 12.1% in the 2nd quarter. Schnieders Capital Management LLC. now owns 2,115 shares of the Internet television network’s stock valued at $2,832,000 after purchasing an additional 228 shares in the last quarter. Brighton Jones LLC increased its stake in Netflix by 5.0% in the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock valued at $4,804,000 after purchasing an additional 257 shares in the last quarter. Aster Capital Management DIFC Ltd raised its holdings in Netflix by 72.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 375 shares of the Internet television network’s stock worth $35,000 after purchasing an additional 157 shares during the last quarter. Finally, 1248 Management LLC increased its holdings in Netflix by 900.0% during the 4th quarter. 1248 Management LLC now owns 620 shares of the Internet television network’s stock valued at $58,000 after acquiring an additional 558 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

More Netflix News

Here are the key news stories impacting Netflix this week:

Wall Street Analyst Weigh In

NFLX has been the subject of a number of research analyst reports. Barclays restated a “reduce” rating on shares of Netflix in a research note on Thursday. KeyCorp reaffirmed an “overweight” rating and set a $92.00 target price (down from $115.00) on shares of Netflix in a report on Monday. Oppenheimer dropped their target price on Netflix from $120.00 to $100.00 and set an “outperform” rating on the stock in a research report on Monday. Wedbush reiterated an “outperform” rating and issued a $118.00 price target on shares of Netflix in a report on Thursday, April 16th. Finally, Pivotal Research set a $96.00 target price on shares of Netflix and gave the company a “hold” rating in a research report on Friday, April 17th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average price target of $111.29.

Check Out Our Latest Research Report on Netflix

Netflix Company Profile

(Get Free Report)

Netflix, Inc (NASDAQ: NFLX) is a global entertainment company that provides subscription-based streaming of films, television series, documentaries and other video content. Founded in 1997 by Reed Hastings and Marc Randolph and headquartered in Los Gatos, California, the company began as a DVD-by-mail rental service and introduced streaming video in 2007. Netflix later expanded into producing and distributing original programming, beginning notable original hits in the 2010s, and now operates a content production and distribution ecosystem alongside its licensing activity.

The company’s primary product is its on-demand streaming service, which can be accessed on a wide range of internet-connected devices and delivered through a suite of apps and web platforms.

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Earnings History for Netflix (NASDAQ:NFLX)

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