Netflix (NASDAQ:NFLX) Shares Up 1.1% – Here’s What Happened

Netflix, Inc. (NASDAQ:NFLX)’s stock price rose 1.1% on Friday . The company traded as high as $979.29 and last traded at $973.88. Approximately 1,119,900 shares traded hands during trading, a decline of 66% from the average daily volume of 3,294,131 shares. The stock had previously closed at $963.07.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Barclays upgraded shares of Netflix from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $715.00 to $900.00 in a research report on Wednesday, January 22nd. Morgan Stanley upped their price target on shares of Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Loop Capital increased their price target on Netflix from $925.00 to $1,000.00 and gave the stock a “hold” rating in a report on Wednesday, January 22nd. Canaccord Genuity Group raised Netflix from a “hold” rating to a “buy” rating and boosted their price objective for the company from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Finally, Benchmark raised Netflix from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,021.70.

Netflix Stock Performance

The company’s 50 day moving average price is $947.72 and its 200-day moving average price is $832.09. The stock has a market cap of $419.44 billion, a P/E ratio of 49.45, a price-to-earnings-growth ratio of 2.12 and a beta of 1.27. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same period in the prior year, the firm posted $2.11 EPS. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. Equities analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Activity at Netflix

In related news, Director Ann Mather sold 2,682 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $973.00, for a total transaction of $2,609,586.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jeffrey William Karbowski sold 160 shares of Netflix stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $1,000.00, for a total transaction of $160,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 303,380 shares of company stock valued at $290,016,164. 1.76% of the stock is owned by insiders.

Hedge Funds Weigh In On Netflix

Several institutional investors have recently bought and sold shares of NFLX. Swedbank AB increased its holdings in Netflix by 1.8% in the 3rd quarter. Swedbank AB now owns 465,208 shares of the Internet television network’s stock worth $329,958,000 after acquiring an additional 8,024 shares during the last quarter. Principal Securities Inc. increased its stake in shares of Netflix by 8.5% in the third quarter. Principal Securities Inc. now owns 7,333 shares of the Internet television network’s stock worth $5,201,000 after purchasing an additional 572 shares in the last quarter. Focus Financial Network Inc. raised its position in shares of Netflix by 0.9% in the third quarter. Focus Financial Network Inc. now owns 2,667 shares of the Internet television network’s stock valued at $1,892,000 after purchasing an additional 23 shares during the period. Shepherd Financial Partners LLC purchased a new stake in shares of Netflix during the 3rd quarter valued at approximately $200,000. Finally, Eads & Heald Wealth Management lifted its stake in shares of Netflix by 1.7% during the 3rd quarter. Eads & Heald Wealth Management now owns 3,358 shares of the Internet television network’s stock valued at $2,382,000 after buying an additional 55 shares in the last quarter. Hedge funds and other institutional investors 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.