Netflix (NASDAQ:NFLX) Trading 1.3% Higher

Netflix, Inc. (NASDAQ:NFLX)’s share price traded up 1.3% during mid-day trading on Tuesday . The stock traded as high as $642.20 and last traded at $641.28. 555,112 shares were traded during trading, a decline of 86% from the average session volume of 3,889,195 shares. The stock had previously closed at $633.14.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NFLX. Oppenheimer reissued an “outperform” rating and set a $725.00 price target on shares of Netflix in a research report on Tuesday, July 30th. Benchmark boosted their target price on Netflix from $450.00 to $545.00 and gave the stock a “sell” rating in a research note on Tuesday, July 16th. Sanford C. Bernstein upped their target price on Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Piper Sandler lifted their price target on Netflix from $600.00 to $650.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Finally, The Goldman Sachs Group raised their target price on Netflix from $650.00 to $659.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $681.21.

Netflix Stock Performance

The company has a market cap of $280.11 billion, a price-to-earnings ratio of 44.50, a PEG ratio of 1.28 and a beta of 1.27. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The firm’s 50 day simple moving average is $652.97 and its 200-day simple moving average is $619.38.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. The company had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.29 earnings per share. On average, sell-side analysts predict that Netflix, Inc. will post 19.08 EPS for the current year.

Insider Buying and Selling

In other Netflix news, CEO Gregory K. Peters sold 4,783 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares in the company, valued at approximately $8,835,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Netflix news, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $19,128,159.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory K. Peters sold 4,783 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $8,835,750. The disclosure for this sale can be found here. Insiders sold 95,218 shares of company stock valued at $60,687,405 in the last three months. 1.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans increased its stake in Netflix by 26.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 65,928 shares of the Internet television network’s stock valued at $44,493,000 after purchasing an additional 13,848 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Netflix by 17.7% in the 2nd quarter. Pacer Advisors Inc. now owns 64,556 shares of the Internet television network’s stock valued at $43,568,000 after purchasing an additional 9,700 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Netflix by 1.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 88,919 shares of the Internet television network’s stock worth $59,980,000 after buying an additional 1,182 shares in the last quarter. Ranch Capital Advisors Inc. acquired a new position in shares of Netflix in the second quarter valued at approximately $204,000. Finally, AE Wealth Management LLC lifted its stake in shares of Netflix by 24.3% during the 2nd quarter. AE Wealth Management LLC now owns 10,466 shares of the Internet television network’s stock worth $7,063,000 after purchasing an additional 2,044 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Company Profile

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.