Netflix (NASDAQ:NFLX) Shares Up 1.2% – What’s Next?

Netflix, Inc. (NASDAQ:NFLX)’s share price shot up 1.2% on Thursday . The company traded as high as $1,040.30 and last traded at $1,039.70. 949,249 shares were traded during trading, a decline of 77% from the average session volume of 4,182,511 shares. The stock had previously closed at $1,027.31.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NFLX. Needham & Company LLC increased their price target on Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating 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 stock an “overweight” rating in a research note on Wednesday, January 22nd. Wolfe Research upgraded shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 target price for the company in a research note on Thursday, January 23rd. Piper Sandler restated an “overweight” rating and issued a $1,100.00 price objective (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Finally, Oppenheimer raised their price objective on shares of Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,021.70.

Netflix Price Performance

The company has a fifty day simple moving average of $929.40 and a two-hundred day simple moving average of $804.02. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market capitalization of $452.83 billion, a price-to-earnings ratio of 53.38, a P/E/G ratio of 2.11 and a beta of 1.27.

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

Insider Buying and Selling

In other Netflix news, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total transaction of $518,320.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard N. Barton sold 6,364 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total value of $5,596,374.32. Following the sale, the director now owns 246 shares of the company’s stock, valued at $216,327.48. This represents a 96.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 303,809 shares of company stock valued at $290,374,484. Insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Large investors have recently made changes to their positions in the business. Pathway Financial Advisers LLC grew its stake in shares of Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after buying an additional 14 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in Netflix in the third quarter valued at approximately $25,000. Transce3nd LLC acquired a new stake in Netflix in the fourth quarter valued at approximately $32,000. Newton One Investments LLC acquired a new stake in Netflix during the 4th quarter valued at $34,000. Finally, Pineridge Advisors LLC grew its holdings in Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after purchasing an additional 40 shares in the last quarter. Institutional investors and hedge funds 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.