Netflix (NASDAQ:NFLX) Shares Up 1.3% – Here’s What Happened

Netflix, Inc. (NASDAQ:NFLX) rose 1.3% during mid-day trading on Friday . The stock traded as high as $986.83 and last traded at $986.34. Approximately 867,031 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 4,376,790 shares. The stock had previously closed at $973.24.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NFLX. BMO Capital Markets restated an “outperform” rating and set a $1,175.00 price target (up from $1,000.00) on shares of Netflix in a research report on Wednesday, January 22nd. Seaport Res Ptn raised Netflix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Piper Sandler reissued an “overweight” rating and set a $1,100.00 price objective (up previously from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. KeyCorp raised their target price on shares of Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Finally, TD Cowen boosted their price target on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Ten investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,021.70.

Netflix Stock Up 0.4 %

The company’s fifty day simple moving average is $904.67 and its 200 day simple moving average is $777.76. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $417.82 billion, a P/E ratio of 49.26, a price-to-earnings-growth ratio of 2.03 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. Netflix’s revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.11 earnings per share. Research analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Activity at Netflix

In other news, Director Timothy M. Haley sold 11,090 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total transaction of $8,405,776.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider David A. Hyman sold 267 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 105,516 shares of company stock worth $92,377,637 over the last ninety days. 1.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NFLX. RPg Family Wealth Advisory LLC purchased a new stake in shares of Netflix in the third quarter worth $25,000. Pathway Financial Advisers LLC grew its position in Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after purchasing an additional 14 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. increased its stake in Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC purchased a new position in Netflix in the fourth quarter worth about $34,000. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of Netflix in the third quarter worth approximately $37,000. Institutional investors 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.