Netflix (NASDAQ:NFLX) Shares Up 0.5% – Here’s What Happened

Netflix, Inc. (NASDAQ:NFLX)’s stock price 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 were traded during trading, a decline of 30% from the average session volume of 3,668,794 shares. The stock had previously closed at $872.60.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Evercore ISI raised their price objective on shares of Netflix from $750.00 to $775.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. UBS Group lifted their price objective on Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. China Renaissance assumed coverage on Netflix in a report on Thursday, September 5th. They issued a “hold” rating and a $680.00 price objective for the company. Macquarie restated an “outperform” rating and set a $795.00 target price on shares of Netflix in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. upped their price target on Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $764.82.

Netflix Price Performance

The business has a fifty day moving average of $765.83 and a 200 day moving average of $696.40. The firm has a market cap of $375.03 billion, a P/E ratio of 49.65, a PEG ratio of 1.67 and a beta of 1.25. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, October 17th. The Internet television network reported $5.40 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 company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. On average, sell-side analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current year.

Insider Activity

In other news, CEO Gregory K. Peters sold 4,392 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total value of $3,184,200.00. Following the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $9,490,250. This represents a 25.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David A. Hyman sold 267 shares of Netflix stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 185,866 shares of company stock valued at $133,393,921 over the last ninety days. 1.76% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Netflix

A number of hedge funds have recently bought and sold shares of the business. State Street Corp increased its holdings in shares of Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares during the period. Geode Capital Management LLC grew its holdings in shares of Netflix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after purchasing an additional 123,029 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after purchasing an additional 316,594 shares in the last quarter. International Assets Investment Management LLC raised its stake in 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 purchasing an additional 5,748,200 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in 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 purchasing an additional 23,702 shares in the last quarter. 80.93% of the stock is 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.