Netflix (NASDAQ:NFLX) Trading 0.8% Higher

Shares of Netflix, Inc. (NASDAQ:NFLX) rose 0.8% on Wednesday . The company traded as high as $680.12 and last traded at $677.51. Approximately 1,044,893 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 3,989,300 shares. The stock had previously closed at $672.41.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NFLX shares. Needham & Company LLC reaffirmed a “buy” rating and set a $700.00 price target on shares of Netflix in a report on Monday, June 17th. Piper Sandler upped their price objective on Netflix from $550.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Oppenheimer reissued an “outperform” rating and set a $725.00 target price on shares of Netflix in a research note on Friday, April 19th. Benchmark upped their target price on Netflix from $440.00 to $450.00 and gave the company a “sell” rating in a report on Friday, May 17th. Finally, Morgan Stanley lifted their price target on Netflix from $600.00 to $700.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $633.53.

Netflix Stock Up 1.1 %

The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. The firm’s 50 day moving average price is $623.78 and its two-hundred day moving average price is $580.61. The company has a market capitalization of $293.08 billion, a price-to-earnings ratio of 47.02, a price-to-earnings-growth ratio of 1.45 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The company had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. During the same period last year, the firm posted $2.88 earnings per share. The business’s revenue was up 14.8% on a year-over-year basis. Sell-side analysts anticipate that Netflix, Inc. will post 18.31 earnings per share for the current fiscal year.

Insider Activity at Netflix

In other news, CEO Gregory K. Peters sold 4,783 shares of Netflix stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $675.00, for a total value of $3,228,525.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,835,750. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Gregory K. Peters sold 4,783 shares of Netflix stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $675.00, for a total value of $3,228,525.00. Following the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $8,835,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 20,566 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the completion of the sale, the chairman now owns 28 shares in the company, valued at approximately $17,091.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,425 shares of company stock worth $41,919,791. Corporate insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Obermeyer Wood Investment Counsel Lllp lifted its position in shares of Netflix by 2.8% during the 1st quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock valued at $378,000 after buying an additional 17 shares during the last quarter. Private Portfolio Partners LLC raised its position in shares of Netflix by 1.7% in the first quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock valued at $633,000 after purchasing an additional 17 shares during the period. KFA Private Wealth Group LLC grew its stake in Netflix by 1.9% in the 4th quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock valued at $466,000 after buying an additional 18 shares in the last quarter. Legacy Capital Group California Inc. grew its holdings in Netflix by 0.6% during the 4th quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network’s stock valued at $1,379,000 after buying an additional 18 shares in the last quarter. Finally, Founders Financial Alliance LLC grew its position in shares of Netflix by 2.4% during the 4th quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock valued at $369,000 after purchasing an additional 18 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

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.