Netflix, Inc. (NFLX) Sees Large Drop in Short Interest
Netflix, Inc. (NASDAQ:NFLX) was the target of a significant decrease in short interest in September. As of September 29th, there was short interest totalling 26,579,419 shares, a decrease of 10.3% from the September 15th total of 29,642,691 shares. Based on an average trading volume of 5,656,387 shares, the days-to-cover ratio is currently 4.7 days. Currently, 6.4% of the shares of the stock are short sold.
Netflix (NASDAQ:NFLX) opened at 199.48 on Wednesday. The stock has a 50 day moving average price of $183.35 and a 200-day moving average price of $165.87. Netflix has a 1-year low of $98.38 and a 1-year high of $204.38. The company has a market capitalization of $86.13 billion, a price-to-earnings ratio of 242.68 and a beta of 1.09.
Netflix (NASDAQ:NFLX) last issued its earnings results on Monday, October 16th. The Internet television network reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.03). The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.97 billion. Netflix had a net margin of 3.55% and a return on equity of 12.82%. The firm’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.12 earnings per share. Equities analysts predict that Netflix will post $1.19 earnings per share for the current year.
In other news, insider Jonathan Friedland sold 3,622 shares of the company’s stock in a transaction on Friday, October 6th. The stock was sold at an average price of $194.89, for a total value of $705,891.58. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Leslie J. Kilgore sold 868 shares of the company’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $202.00, for a total value of $175,336.00. The disclosure for this sale can be found here. Insiders sold 305,288 shares of company stock worth $55,168,715 over the last 90 days. Company insiders own 4.90% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Crow Point Partners LLC bought a new stake in shares of Netflix in the 3rd quarter valued at about $189,000. Intl Fcstone Inc. bought a new stake in shares of Netflix in the 2nd quarter valued at about $278,000. Navellier & Associates Inc bought a new stake in shares of Netflix in the 2nd quarter valued at about $492,000. USA Financial Portformulas Corp bought a new stake in shares of Netflix in the 2nd quarter valued at about $6,229,000. Finally, Toronto Dominion Bank raised its holdings in shares of Netflix by 25.7% in the 2nd quarter. Toronto Dominion Bank now owns 146,001 shares of the Internet television network’s stock valued at $21,810,000 after purchasing an additional 29,867 shares during the period. 81.02% of the stock is currently owned by institutional investors.
Several brokerages have recently issued reports on NFLX. Stifel Nicolaus upped their price objective on Netflix from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday. Buckingham Research upped their price objective on Netflix from $214.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday. KeyCorp restated a “buy” rating and issued a $230.00 price objective on shares of Netflix in a research report on Tuesday. Bank of America Corporation upped their price objective on Netflix from $199.00 to $225.00 in a research report on Tuesday. Finally, Piper Jaffray Companies upped their price objective on Netflix to $240.00 and gave the company an “overweight” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirty-three have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $200.39.
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Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.
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