Netflix (NASDAQ:NFLX) Trading 0.5% Higher – Here’s Why

Shares of Netflix, Inc. (NASDAQ:NFLX) shot up 0.5% during trading on Thursday . The stock traded as high as $880.95 and last traded at $877.34. 2,575,914 shares changed hands during mid-day trading, a decline of 30% from the average session volume of 3,668,794 shares. The stock had previously closed at $872.60.

Analysts Set New Price Targets

NFLX has been the topic of a number of recent analyst reports. Wedbush reissued an “outperform” rating and set a $950.00 price target (up previously from $800.00) on shares of Netflix in a research note on Monday, November 18th. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. Morgan Stanley lifted their price target on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Pivotal Research increased their price objective on shares of Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, Guggenheim boosted their target price on shares of Netflix from $810.00 to $825.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $764.82.

Netflix Stock Performance

The company has a market capitalization of $379.07 billion, a price-to-earnings ratio of 50.19, a price-to-earnings-growth ratio of 1.69 and a beta of 1.25. 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 stock has a 50-day simple moving average of $773.01 and a 200-day simple moving average of $699.54.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (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 net margin of 20.70% and a return on equity of 35.86%. On average, analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Timothy M. Haley sold 647 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $800.19, for a total transaction of $517,722.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Anne M. Sweeney sold 589 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total transaction of $518,320.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 185,866 shares of company stock worth $133,393,921. Corporate insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. American Trust bought a new position in Netflix in the third quarter worth about $323,000. Old North State Trust LLC raised its position in shares of Netflix by 3.2% during the 3rd quarter. Old North State Trust LLC now owns 699 shares of the Internet television network’s stock worth $496,000 after purchasing an additional 22 shares during the period. Franklin Resources Inc. boosted its position in Netflix by 11.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,236,539 shares of the Internet television network’s stock valued at $881,652,000 after purchasing an additional 127,541 shares during the period. Synovus Financial Corp boosted its position in Netflix by 43.9% during the 3rd quarter. Synovus Financial Corp now owns 12,667 shares of the Internet television network’s stock valued at $8,984,000 after purchasing an additional 3,864 shares during the period. Finally, Destination Wealth Management grew its stake in Netflix by 7.5% during the 3rd quarter. Destination Wealth Management now owns 1,083 shares of the Internet television network’s stock worth $768,000 after buying an additional 76 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.