Netflix (NASDAQ:NFLX) Announces Earnings Results

Netflix (NASDAQ:NFLX) posted its quarterly earnings data on Thursday. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77, Briefing.com reports. The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a net margin of 16.04% and a return on equity of 24.76%. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.88 earnings per share. Netflix updated its Q2 guidance to $4.68 EPS.

Netflix Trading Down 0.5 %

NFLX stock traded down $3.13 during midday trading on Thursday, hitting $610.56. The company had a trading volume of 6,996,683 shares, compared to its average volume of 4,278,392. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.69. Netflix has a 52 week low of $315.62 and a 52 week high of $639.00. The stock has a market cap of $264.23 billion, a price-to-earnings ratio of 51.53, a PEG ratio of 1.67 and a beta of 1.22. The stock’s 50 day moving average price is $604.73 and its 200 day moving average price is $511.17.

Insider Buying and Selling

In other Netflix news, insider David A. Hyman sold 47,574 shares of the stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $17,003,651.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Jay C. Hoag sold 47,000 shares of the firm’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $550.50, for a total value of $25,873,500.00. Following the completion of the sale, the director now owns 431,034 shares of the company’s stock, valued at $237,284,217. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David A. Hyman sold 47,574 shares of the business’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at $17,003,651.20. The disclosure for this sale can be found here. Insiders have sold a total of 268,335 shares of company stock valued at $151,619,811 over the last three months. 2.45% of the stock is owned by company insiders.

Institutional Investors Weigh In On Netflix

A number of large investors have recently modified their holdings of the stock. Aspect Partners LLC purchased a new stake in Netflix in the fourth quarter worth about $32,000. KB Financial Partners LLC raised its position in shares of Netflix by 108.5% in the 2nd quarter. KB Financial Partners LLC now owns 98 shares of the Internet television network’s stock worth $43,000 after acquiring an additional 51 shares in the last quarter. West Tower Group LLC lifted its stake in shares of Netflix by 83.6% in the 4th quarter. West Tower Group LLC now owns 112 shares of the Internet television network’s stock valued at $55,000 after purchasing an additional 51 shares during the period. Evermay Wealth Management LLC boosted its position in shares of Netflix by 94.9% during the first quarter. Evermay Wealth Management LLC now owns 115 shares of the Internet television network’s stock valued at $40,000 after purchasing an additional 56 shares in the last quarter. Finally, SkyView Investment Advisors LLC grew its stake in Netflix by 2,033.3% in the second quarter. SkyView Investment Advisors LLC now owns 128 shares of the Internet television network’s stock worth $78,000 after purchasing an additional 122 shares during the period. Institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Robert W. Baird raised their target price on Netflix from $500.00 to $600.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. DZ Bank raised Netflix from a “hold” rating to a “buy” rating and set a $600.00 price objective for the company in a report on Thursday, January 25th. KeyCorp upped their price objective on shares of Netflix from $580.00 to $705.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Evercore ISI lifted their target price on shares of Netflix from $600.00 to $640.00 and gave the stock an “outperform” rating in a research note on Thursday, March 14th. Finally, TD Cowen upped their price target on shares of Netflix from $600.00 to $725.00 and gave the company a “buy” rating in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, Netflix has a consensus rating of “Moderate Buy” and a consensus price target of $614.75.

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.