Netflix (NASDAQ:NFLX) Stock Price Up 1.7% – Here’s What Happened

Netflix, Inc. (NASDAQ:NFLX – Get Free Report) shares traded up 1.7% on Tuesday. The company traded as high as $63.47 and last traded at $63.42. Approximately 35,178,868 shares were traded during trading, a decline of 18% from the average session volume of 42,749,664 shares. The stock had previously closed at $62.34.

Key Stories Impacting Netflix

Here are the key news stories impacting Netflix this week:

Wall Street Analyst Weigh In

NFLX has been the topic of a number of recent research reports. Rosenblatt Securities set a $71.00 price objective on shares of Netflix and gave the company a “neutral” rating in a research note on Wednesday, October 21st. Argus set a $95.00 target price on shares of Netflix and gave the company a “buy” rating in a research report on Thursday, October 22nd. New Street Research increased their price target on Netflix from $96.00 to $102.00 and gave the company a “neutral” rating in a research note on Friday, July 17th. William Blair reissued an “outperform” rating on shares of Netflix in a research note on Wednesday, October 21st. Finally, Weiss Ratings lowered Netflix from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 23rd. Two analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, seventeen have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and an average target price of $89.14.

Get Our Latest Research Report on Netflix

Netflix Stock Up 1.7%

The firm’s 50 day moving average is $72.33 and its two-hundred day moving average is $81.43. The firm has a market cap of $260.42 billion, a P/E ratio of 18.33, a price-to-earnings-growth ratio of 0.91 and a beta of 1.62. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43.

Netflix (NASDAQ:NFLX – Get Free Report) last issued its earnings results on Tuesday, October 20th. The Internet television network reported $0.87 EPS for the quarter, beating the consensus estimate of $0.82 by $0.05. The firm had revenue of $12.87 billion during the quarter, compared to the consensus estimate of $12.87 billion. Netflix had a net margin of 29.69% and a return on equity of 42.69%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 earnings per share. As a group, research analysts anticipate that Netflix, Inc. will post 3.59 EPS for the current fiscal year.

Insider Activity

In related news, Director Richard Barton sold 720 shares of the firm’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $75.27, for a total transaction of $54,194.40. Following the sale, the director owned 2,460 shares of the company’s stock, valued at approximately $185,164.20. This trade represents a 22.64% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gregory Peters sold 27,312 shares of Netflix stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $73.54, for a total value of $2,008,524.48. Following the transaction, the chief executive officer owned 120,931 shares in the company, valued at approximately $8,893,265.74. This represents a 18.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 58,140 shares of company stock worth $4,132,972 in the last 90 days. Corporate insiders own 1.24% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Clal Insurance Enterprises Holdings Ltd bought a new stake in Netflix in the 2nd quarter valued at $26,000. Pathway Financial Advisers LLC bought a new position in Netflix during the 3rd quarter worth about $26,000. Sawyer & Company Inc bought a new position in Netflix during the 3rd quarter worth about $27,000. Compound Global Advisors LLC acquired a new stake in shares of Netflix in the 2nd quarter valued at about $29,000. Finally, Burnham & Co LLC acquired a new stake in shares of Netflix in the 2nd quarter valued at about $29,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

About Netflix

(Get Free Report)

Netflix, Inc (NASDAQ:NFLX) is a global entertainment company that provides subscription-based streaming services. Its platform offers a broad selection of television series, films, documentaries, stand-up specials and other programming, including content produced by Netflix and licensed from third-party studios and creators.

The company also develops and distributes original productions under the Netflix brand and has expanded into additional entertainment offerings, including mobile and cloud-based games in select markets and live programming.

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