Traders Buy Shares of Netflix (NFLX) on Weakness
Traders purchased shares of Netflix, Inc. (NASDAQ:NFLX) on weakness during trading on Monday. $2,758.01 million flowed into the stock on the tick-up and $2,503.70 million flowed out of the stock on the tick-down, for a money net flow of $254.31 million into the stock. Of all equities tracked, Netflix had the highest net in-flow for the day. Netflix traded down ($14.09) for the day and closed at $339.10
A number of research analysts have recently issued reports on NFLX shares. Credit Suisse Group reiterated a “buy” rating and issued a $470.00 target price on shares of Netflix in a research note on Monday, October 1st. Goldman Sachs Group set a $470.00 target price on shares of Netflix and gave the company a “buy” rating in a research note on Tuesday, October 2nd. Macquarie set a $388.00 target price on shares of Netflix and gave the company a “buy” rating in a research note on Wednesday, September 26th. Sanford C. Bernstein reiterated a “buy” rating and issued a $465.00 target price on shares of Netflix in a research note on Wednesday, October 17th. Finally, Nomura reiterated a “neutral” rating and issued a $370.00 target price on shares of Netflix in a research note on Wednesday, October 17th. Six equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $375.25.
The stock has a market cap of $147.88 billion, a P/E ratio of 126.53, a price-to-earnings-growth ratio of 2.79 and a beta of 1.12. The company has a debt-to-equity ratio of 1.98, a quick ratio of 1.39 and a current ratio of 1.49.
In other Netflix news, CFO David B. Wells sold 588 shares of the business’s stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $283.79, for a total transaction of $166,868.52. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Reed Hastings sold 78,092 shares of the business’s stock in a transaction dated Wednesday, November 21st. The stock was sold at an average price of $266.87, for a total transaction of $20,840,412.04. Following the sale, the chief executive officer now directly owns 78,092 shares in the company, valued at $20,840,412.04. The disclosure for this sale can be found here. Insiders sold a total of 162,483 shares of company stock worth $42,592,023 over the last ninety days. 4.29% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the business. FMR LLC grew its holdings in shares of Netflix by 6.1% during the 2nd quarter. FMR LLC now owns 26,511,408 shares of the Internet television network’s stock worth $10,377,360,000 after purchasing an additional 1,534,290 shares during the period. Summit X LLC purchased a new position in shares of Netflix during the 2nd quarter worth $242,000. Advisors Asset Management Inc. grew its holdings in shares of Netflix by 95.9% during the 2nd quarter. Advisors Asset Management Inc. now owns 7,885 shares of the Internet television network’s stock worth $3,086,000 after purchasing an additional 3,861 shares during the period. Schroder Investment Management Group grew its holdings in shares of Netflix by 4.0% during the 2nd quarter. Schroder Investment Management Group now owns 297,887 shares of the Internet television network’s stock worth $117,790,000 after purchasing an additional 11,586 shares during the period. Finally, Rehmann Capital Advisory Group grew its holdings in shares of Netflix by 36.0% during the 2nd quarter. Rehmann Capital Advisory Group now owns 809 shares of the Internet television network’s stock worth $317,000 after purchasing an additional 214 shares during the period. 73.98% of the stock is currently owned by hedge funds and other institutional investors.
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Netflix Company Profile (NASDAQ:NFLX)
Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.
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