Netflix (NASDAQ:NFLX) Stock Price Up 1.4%

Shares of Netflix, Inc. (NASDAQ:NFLX) rose 1.4% during mid-day trading on Thursday . The stock traded as high as $694.00 and last traded at $693.30. Approximately 546,254 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 3,822,384 shares. The stock had previously closed at $683.84.

Analyst Ratings Changes

NFLX has been the topic of several research analyst reports. KeyCorp boosted their price objective on Netflix from $707.00 to $735.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Benchmark boosted their target price on Netflix from $450.00 to $545.00 and gave the stock a “sell” rating in a research note on Tuesday, July 16th. Citigroup boosted their target price on Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Guggenheim boosted their target price on Netflix from $700.00 to $735.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, Oppenheimer reissued an “outperform” rating and set a $725.00 target price on shares of Netflix in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $682.42.

Netflix Trading Up 1.1 %

The company has a 50 day simple moving average of $658.81 and a 200 day simple moving average of $628.45. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $297.94 billion, a PE ratio of 48.47, a P/E/G ratio of 1.28 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. The business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.29 EPS. Analysts predict that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Netflix news, Director Jay C. Hoag sold 37,675 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $629.73, for a total transaction of $23,725,077.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Spencer Adam Neumann sold 433 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total value of $271,140.27. The disclosure for this sale can be found here. Insiders have sold a total of 152,700 shares of company stock worth $98,283,982 in the last quarter. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Large investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Netflix during the fourth quarter worth $2,558,598,000. Wellington Management Group LLP boosted its holdings in shares of Netflix by 540.9% during the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after purchasing an additional 3,273,592 shares during the last quarter. GQG Partners LLC acquired a new stake in shares of Netflix during the first quarter worth $1,450,476,000. Jennison Associates LLC boosted its holdings in shares of Netflix by 17.0% during the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after purchasing an additional 929,193 shares during the last quarter. Finally, Global Assets Advisory LLC acquired a new stake in shares of Netflix during the first quarter worth $436,514,000. 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.