Netflix (NASDAQ:NFLX) Stock Price Up 0.6% – Here’s What Happened

Netflix, Inc. (NASDAQ:NFLX) shares shot up 0.6% on Tuesday . The stock traded as high as $922.00 and last traded at $919.61. 635,364 shares were traded during mid-day trading, a decline of 82% from the average session volume of 3,626,320 shares. The stock had previously closed at $913.69.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NFLX. Sanford C. Bernstein increased their price objective on Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. UBS Group raised their target price on Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft raised their target price on Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Wells Fargo & Company raised their target price on Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, Pivotal Research raised their target price on Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and a consensus target price of $783.00.

Netflix Price Performance

The stock has a market cap of $391.28 billion, a P/E ratio of 52.04, a PEG ratio of 1.80 and a beta of 1.27. The company has a 50 day simple moving average of $797.01 and a 200 day simple moving average of $712.57. 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 released its earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating the consensus estimate of $5.09 by $0.31. The firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. Sell-side analysts forecast that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider David A. Hyman sold 267 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $24,202,828.70. This represents a 0.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the sale, the chairman now owns 114 shares of the company’s stock, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 209,155 shares of company stock valued at $159,682,799 in the last 90 days. 1.76% of the stock is currently owned by insiders.

Institutional Trading of Netflix

Institutional investors have recently modified their holdings of the stock. State Street Corp lifted its position in shares of Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after buying an additional 426,740 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Netflix by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after buying an additional 123,029 shares during the period. Jennison Associates LLC increased its stake in shares of Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after buying an additional 316,594 shares during the period. International Assets Investment Management LLC increased its stake in shares of Netflix by 116,620.0% in the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after buying an additional 5,748,200 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Netflix by 0.5% in the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after buying an additional 23,702 shares during the period. 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.