Netflix (NASDAQ:NFLX) Trading 1.5% Higher – Here’s What Happened

Netflix, Inc. (NASDAQ:NFLX)’s stock price rose 1.5% during trading on Wednesday . The company traded as high as $949.55 and last traded at $942.26. Approximately 1,107,842 shares traded hands during trading, a decline of 69% from the average daily volume of 3,583,612 shares. The stock had previously closed at $928.38.

Analysts Set New Price Targets

NFLX has been the subject of a number of research analyst reports. KeyCorp boosted 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. Arete Research raised Netflix to a “hold” rating in a report on Thursday, January 23rd. Wolfe Research upgraded Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price objective on the stock in a research report on Thursday, January 23rd. Needham & Company LLC boosted their target price on Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, UBS Group reiterated a “buy” rating on shares of Netflix in a report on Monday, March 10th. Ten investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.02.

Netflix Stock Performance

The stock has a 50 day moving average of $974.40 and a 200 day moving average of $872.78. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a market cap of $403.95 billion, a price-to-earnings ratio of 47.62, a P/E/G ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last issued 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. The company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.11 EPS. As a group, analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Transactions at Netflix

In related news, CAO Jeffrey William Karbowski sold 480 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $978.18, for a total transaction of $469,526.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Reed Hastings sold 30,485 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $981.92, for a total transaction of $29,933,831.20. Following the completion of the transaction, the chairman now directly owns 394 shares of the company’s stock, valued at approximately $386,876.48. The trade was a 98.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 288,583 shares of company stock valued at $279,611,567. Corporate insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Institutional investors and hedge funds have recently bought and sold shares of the company. Pathway Financial Advisers LLC increased 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 during the period. Brown Shipley& Co Ltd acquired a new position in Netflix in the 4th quarter valued at approximately $27,000. Transce3nd LLC bought a new position in shares of Netflix during the fourth quarter valued at $32,000. Newton One Investments LLC acquired a new position in shares of Netflix during the fourth quarter worth $34,000. Finally, Pineridge Advisors LLC grew its stake in shares of Netflix by 4,000.0% in the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after purchasing an additional 40 shares during 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.