Netflix (NASDAQ:NFLX) Shares Up 1.5% – What’s Next?

Netflix, Inc. (NASDAQ:NFLX) shares were up 1.5% during mid-day trading on Friday . The company traded as high as $891.92 and last traded at $890.85. Approximately 657,225 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 3,654,947 shares. The stock had previously closed at $877.34.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. The Goldman Sachs Group set a $750.00 price objective on Netflix in a report on Friday, October 18th. Jefferies Financial Group boosted their price target on shares of Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. KeyCorp boosted their price target on shares of Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Rosenblatt Securities lifted their price target on Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Canaccord Genuity Group upped their target price on shares of Netflix from $750.00 to $760.00 and gave the company a “hold” rating in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $764.82.

Netflix Stock Performance

The stock has a market capitalization of $379.08 billion, a price-to-earnings ratio of 50.42, a P/E/G ratio of 1.69 and a beta of 1.25. The company’s fifty day simple moving average is $769.29 and its 200 day simple moving average is $697.66. 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 posted its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The firm had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. On average, equities research analysts expect that Netflix, Inc. will post 19.78 earnings per share for the current year.

Insider Buying and Selling at Netflix

In related news, Chairman Reed Hastings sold 25,074 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the completion of the sale, the chairman now owns 85 shares of the company’s stock, valued at $57,878.20. This trade represents a 99.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David A. Hyman sold 267 shares of Netflix stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This trade represents 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 worth $133,393,921 over the last quarter. Corporate insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Old North State Trust LLC increased its holdings in shares of Netflix by 3.2% in the third 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. lifted its position in Netflix by 11.5% in the third 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 last quarter. 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 buying an additional 3,864 shares during the period. Destination Wealth Management grew its position in shares of Netflix by 7.5% in 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. Finally, Wilmington Savings Fund Society FSB boosted its holdings in Netflix by 124.8% in the third quarter. Wilmington Savings Fund Society FSB now owns 5,732 shares of the Internet television network’s stock valued at $4,066,000 after acquiring an additional 3,182 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.