Netflix (NASDAQ:NFLX) Trading Up 0.1% – Here’s Why

Netflix, Inc. (NASDAQ:NFLX) shares traded up 0.1% during trading on Thursday . The company traded as high as $898.58 and last traded at $892.48. 653,082 shares were traded during mid-day trading, a decline of 82% from the average session volume of 3,583,552 shares. The stock had previously closed at $891.32.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Piper Sandler reaffirmed an “overweight” rating and set a $840.00 price objective (up previously from $800.00) on shares of Netflix in a research report on Friday, October 18th. UBS Group upped their target price on shares of Netflix from $825.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Sanford C. Bernstein boosted their price objective on Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Bank of America boosted their price target on Netflix from $800.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and a consensus price target of $813.00.

Netflix Trading Down 0.6 %

The firm has a market capitalization of $376.61 billion, a PE ratio of 49.86, a PEG ratio of 1.77 and a beta of 1.27. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The business has a fifty day moving average price of $866.57 and a two-hundred day moving average price of $746.14.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The business had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Analysts expect that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Insider Activity

In related 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 transaction, the insider now owns 31,610 shares of the company’s stock, valued at $24,202,828.70. This represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Reed Hastings sold 35,868 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the completion of the transaction, the chairman now owns 114 shares of the company’s stock, valued at $101,241.12. This represents a 99.68 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 150,761 shares of company stock valued at $125,713,484. Insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NFLX. Modus Advisors LLC purchased a new stake in Netflix during the 4th quarter worth about $158,000. NRI Wealth Management LC purchased a new stake in shares of Netflix during the fourth quarter worth about $3,172,000. GAMMA Investing LLC raised its position in shares of Netflix by 13.2% in the fourth quarter. GAMMA Investing LLC now owns 8,060 shares of the Internet television network’s stock valued at $7,184,000 after buying an additional 941 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of Netflix by 41.9% during the fourth quarter. Versant Capital Management Inc now owns 664 shares of the Internet television network’s stock valued at $592,000 after buying an additional 196 shares during the period. Finally, Global Wealth Strategies & Associates boosted its position in Netflix by 30.6% during the fourth quarter. Global Wealth Strategies & Associates now owns 128 shares of the Internet television network’s stock worth $114,000 after acquiring an additional 30 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

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.