Netflix (NASDAQ:NFLX) Shares Up 1.8% – Here’s Why

Netflix, Inc. (NASDAQ:NFLX) shot up 1.8% on Monday . The company traded as high as $935.27 and last traded at $934.74. 2,955,383 shares traded hands during mid-day trading, a decline of 4% from the average session volume of 3,071,961 shares. The stock had previously closed at $917.87.

Wall Street Analyst Weigh In

NFLX has been the topic of several recent research reports. China Renaissance initiated coverage on Netflix in a report on Thursday, September 5th. They set a “hold” rating and a $680.00 target price on the stock. Pivotal Research upped their target price on Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. raised their price target on shares of Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Rosenblatt Securities upped their price objective on shares of Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Citigroup increased their price objective on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $783.00.

Netflix Stock Performance

The company’s 50-day simple moving average is $792.92 and its 200 day simple moving average is $710.61. The stock has a market cap of $399.56 billion, a P/E ratio of 52.90, a PEG ratio of 1.80 and a beta of 1.27. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The business had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. As a group, sell-side analysts expect that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Reed Hastings sold 48,363 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the transaction, the chairman now owns 114 shares in the company, valued at approximately $102,212.40. This represents a 99.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anne M. Sweeney sold 589 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total value of $518,320.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 209,155 shares of company stock worth $159,682,799. Insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Oddo BHF Asset Management Sas bought a new stake in shares of Netflix during the third quarter valued at about $21,594,000. American Trust bought a new stake in Netflix during the 3rd quarter worth approximately $323,000. Old North State Trust LLC raised its position in shares of Netflix by 3.2% in the third quarter. Old North State Trust LLC now owns 699 shares of the Internet television network’s stock worth $496,000 after buying an additional 22 shares in the last quarter. Franklin Resources Inc. increased its stake in Netflix by 11.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,236,539 shares of the Internet television network’s stock worth $881,652,000 after acquiring an additional 127,541 shares during the last quarter. Finally, Synovus Financial Corp boosted its position in shares of Netflix by 43.9% during the 3rd quarter. Synovus Financial Corp now owns 12,667 shares of the Internet television network’s stock valued at $8,984,000 after acquiring an additional 3,864 shares during the last quarter. Institutional investors 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.