Netflix (NASDAQ:NFLX) Shares Up 1.4%

Netflix, Inc. (NASDAQ:NFLX) was up 1.4% during mid-day trading on Thursday . The stock traded as high as $694.00 and last traded at $693.30. Approximately 546,254 shares were traded during trading, a decline of 86% from the average daily volume of 3,822,384 shares. The stock had previously closed at $683.84.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NFLX shares. The Goldman Sachs Group upped their target price on shares of Netflix from $650.00 to $659.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Guggenheim increased their price target on shares of Netflix from $700.00 to $735.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Morgan Stanley boosted their price target on Netflix from $700.00 to $780.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Evercore ISI lifted their target price on Netflix from $710.00 to $750.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, TD Cowen boosted their price objective on shares of Netflix from $725.00 to $775.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $685.45.

Netflix Stock Performance

The company has a 50-day moving average price of $659.04 and a two-hundred day moving average price of $629.28. The stock has a market capitalization of $302.28 billion, a P/E ratio of 48.67, a price-to-earnings-growth ratio of 1.28 and a beta of 1.27. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating the consensus estimate of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The company had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. During the same quarter in the previous year, the business posted $3.29 EPS. Netflix’s revenue for the quarter was up 16.8% compared to the same quarter last year. On average, equities analysts forecast that Netflix, Inc. will post 19.08 earnings per share for the current year.

Insider Activity at Netflix

In other news, CFO Spencer Adam Neumann sold 433 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total value of $271,140.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Leslie J. Kilgore sold 1,372 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $704.81, for a total transaction of $966,999.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was 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. In the last three months, insiders have sold 152,700 shares of company stock worth $98,283,982. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

A number of hedge funds have recently made changes to their positions in the business. Malaga Cove Capital LLC increased its stake in Netflix by 25.4% in the 4th quarter. Malaga Cove Capital LLC now owns 1,562 shares of the Internet television network’s stock worth $761,000 after purchasing an additional 316 shares during the period. Legacy Financial Advisors Inc. raised its stake in Netflix by 8.1% during the fourth quarter. Legacy Financial Advisors Inc. now owns 3,793 shares of the Internet television network’s stock valued at $1,847,000 after buying an additional 284 shares during the last quarter. Lincoln National Corp lifted its stake in shares of Netflix by 4.9% in the fourth quarter. Lincoln National Corp now owns 8,115 shares of the Internet television network’s stock worth $3,951,000 after buying an additional 379 shares in the last quarter. M&G Plc bought a new stake in shares of Netflix during the first quarter valued at approximately $9,682,000. Finally, BSN CAPITAL PARTNERS Ltd raised its holdings in Netflix by 24.4% in the 1st quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock worth $155,185,000 after acquiring an additional 49,000 shares during the last quarter. 80.93% of the stock is currently 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.