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

Netflix, Inc. (NASDAQ:NFLX)’s share price was up 0.9% during trading on Friday . The stock traded as high as $762.72 and last traded at $762.72. Approximately 582,711 shares changed hands during trading, a decline of 84% from the average daily volume of 3,689,959 shares. The stock had previously closed at $756.03.

Wall Street Analysts Forecast Growth

NFLX has been the topic of several research reports. Jefferies Financial Group upped their price target on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Piper Sandler reissued an “overweight” rating and set a $840.00 price target (up from $800.00) on shares of Netflix in a research report on Friday, October 18th. The Goldman Sachs Group set a $750.00 target price on Netflix in a research report on Friday, October 18th. TD Cowen increased their target price on Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, China Renaissance assumed coverage on Netflix in a research report on Thursday, September 5th. They issued a “hold” rating and a $680.00 target price on the stock. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $748.15.

Netflix Price Performance

The stock has a market capitalization of $323.20 billion, a price-to-earnings ratio of 42.79, a P/E/G ratio of 1.46 and a beta of 1.25. 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 fifty day simple moving average of $712.96 and a 200 day simple moving average of $664.34.

Insider Activity

In other news, CEO Gregory K. Peters sold 1,278 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total value of $785,254.32. Following the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $8,043,019.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Gregory K. Peters sold 1,278 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total value of $785,254.32. Following the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $8,043,019.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $626.19, for a total value of $271,140.27. The disclosure for this sale can be found here. Insiders have sold 209,810 shares of company stock valued at $142,049,542 in the last ninety days. 1.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. DigitalBridge Group Inc. raised its stake in Netflix by 35.5% during the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after buying an additional 9,451 shares during the period. M&G Plc acquired a new position in Netflix during the 1st quarter worth approximately $9,682,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Netflix by 58.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock worth $55,968,000 after buying an additional 30,511 shares during the period. Forsta AP Fonden increased its holdings in Netflix by 7.7% during the 3rd quarter. Forsta AP Fonden now owns 121,400 shares of the Internet television network’s stock worth $86,105,000 after purchasing an additional 8,700 shares in the last quarter. Finally, Koshinski Asset Management Inc. bought a new stake in Netflix during the 1st quarter worth approximately $1,304,000. 80.93% of the stock is owned by institutional investors and hedge funds.

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.