Netflix (NASDAQ:NFLX) Trading 1.1% Higher – Here’s What Happened

Netflix, Inc. (NASDAQ:NFLX)’s stock price rose 1.1% during trading on Tuesday . The stock traded as high as $871.00 and last traded at $867.66. Approximately 1,874,615 shares were traded during trading, a decline of 39% from the average daily volume of 3,077,705 shares. The stock had previously closed at $858.10.

Analysts Set New Price Targets

NFLX has been the subject of several analyst reports. Benchmark raised their price objective on Netflix from $555.00 to $720.00 and gave the company a “sell” rating in a report on Friday, January 3rd. Pivotal Research raised their target price on shares of Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Canaccord Genuity Group upped their target price on shares of Netflix from $760.00 to $940.00 and gave the company a “hold” rating in a report on Monday, December 2nd. Argus boosted their target price on Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Wedbush reaffirmed an “outperform” rating and set a $950.00 price target (up previously from $800.00) on shares of Netflix in a report on Monday, November 18th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $845.06.

Netflix Stock Performance

The stock has a market capitalization of $370.08 billion, a price-to-earnings ratio of 48.98, a P/E/G ratio of 1.40 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a fifty day simple moving average of $885.64 and a two-hundred day simple moving average of $760.81.

Insider Activity

In related news, CEO Theodore A. Sarandos sold 1,278 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $767.05, for a total value of $980,289.90. Following the transaction, the chief executive officer now directly owns 2,556 shares in the company, valued at $1,960,579.80. This trade represents a 33.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 in the company, valued at approximately $24,202,828.70. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 152,198 shares of company stock worth $127,616,898. Company insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Several institutional investors and hedge funds have recently made changes to their positions in NFLX. RPg Family Wealth Advisory LLC bought a new stake in shares of Netflix in the 3rd quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after buying an additional 42 shares during the last quarter. Decker Retirement Planning Inc. purchased a new stake in Netflix in the 4th quarter worth about $43,000. MidAtlantic Capital Management Inc. bought a new stake in Netflix in the 3rd quarter valued at about $37,000. Finally, FSA Wealth Management LLC purchased a new stake in Netflix during the third quarter valued at about $38,000. Hedge funds and other institutional investors 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.