Netflix (NASDAQ:NFLX) Shares Up 0.1% – What’s Next?

Netflix, Inc. (NASDAQ:NFLX) shares traded up 0.1% during mid-day trading on Thursday . The company traded as high as $898.58 and last traded at $892.48. 653,082 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 3,583,552 shares. The stock had previously closed at $891.32.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Piper Sandler reissued an “overweight” rating and set a $840.00 target price (up from $800.00) on shares of Netflix in a report on Friday, October 18th. Wedbush reiterated an “outperform” rating and issued a $950.00 price objective (up from $800.00) on shares of Netflix in a report on Monday, November 18th. KeyCorp lifted their target price on shares of Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Sanford C. Bernstein increased their price target on shares of Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Finally, Citigroup raised 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, December 5th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and an average price target of $807.70.

Netflix Stock Performance

The stock has a market cap of $376.65 billion, a price-to-earnings ratio of 49.87, a P/E/G ratio of 1.77 and a beta of 1.27. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The company has a 50 day simple moving average of $861.40 and a 200 day simple moving average of $743.72.

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

Insider Activity

In related news, Director Leslie J. Kilgore sold 383 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the transaction, the director now owns 35,262 shares in the company, valued at $25,741,260. This trade represents a 1.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction that occurred 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 sale, the chairman now owns 114 shares in the company, valued at approximately $102,212.40. This represents a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 114,893 shares of company stock worth $93,859,830. Insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. TIAA Trust National Association boosted its holdings in Netflix by 10.1% in the second quarter. TIAA Trust National Association now owns 35,134 shares of the Internet television network’s stock valued at $23,711,000 after acquiring an additional 3,227 shares during the last quarter. Oxinas Partners Wealth Management LLC raised its stake in Netflix by 25.3% during the second quarter. Oxinas Partners Wealth Management LLC now owns 496 shares of the Internet television network’s stock worth $335,000 after buying an additional 100 shares during the last quarter. Founders Financial Securities LLC lifted its holdings in Netflix by 1.7% in the second quarter. Founders Financial Securities LLC now owns 2,499 shares of the Internet television network’s stock valued at $1,687,000 after buying an additional 42 shares during the period. First National Trust Co boosted its position in Netflix by 4.5% during the second quarter. First National Trust Co now owns 1,403 shares of the Internet television network’s stock valued at $947,000 after acquiring an additional 61 shares during the last quarter. Finally, Fortis Capital Advisors LLC boosted its position in Netflix by 1.3% during the second quarter. Fortis Capital Advisors LLC now owns 4,254 shares of the Internet television network’s stock valued at $2,871,000 after acquiring an additional 53 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

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.