Netflix, Inc. (NASDAQ:NFLX – Get Free Report) shot up 1.9% on Monday . The stock traded as high as $865.00 and last traded at $858.10. 3,563,913 shares changed hands during trading, an increase of 55% from the average session volume of 2,297,633 shares. The stock had previously closed at $842.37.
Wall Street Analysts Forecast Growth
NFLX has been the topic of several recent research reports. Pivotal Research increased their price target on Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Wolfe Research reissued an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. Bank of America upped their target price on shares of Netflix from $800.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Morgan Stanley boosted their price objective on Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, Wedbush restated an “outperform” rating and issued a $950.00 target price (up previously from $800.00) on shares of Netflix in a report on Monday, November 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and an average target price of $845.06.
Read Our Latest Stock Report on NFLX
Netflix Stock Performance
Netflix (NASDAQ:NFLX – Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. As a group, equities research analysts forecast that Netflix, Inc. will post 19.78 EPS for the current fiscal year.
Insider Buying and Selling
In other Netflix news, Chairman Reed Hastings sold 35,868 shares of Netflix stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total value of $31,853,653.44. Following the completion of the transaction, the chairman now directly owns 114 shares of the company’s stock, valued at approximately $101,241.12. The trade was a 99.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard N. Barton sold 6,364 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the sale, the director now owns 246 shares in the company, valued at approximately $216,327.48. This represents a 96.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 152,198 shares of company stock valued at $127,616,898 over the last three months. Corporate insiders own 1.76% of the company’s stock.
Institutional Trading of Netflix
A number of large investors have recently made changes to their positions in NFLX. RPg Family Wealth Advisory LLC bought a new stake in Netflix during the third quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares in the last quarter. Decker Retirement Planning Inc. bought a new position in Netflix in the 4th quarter worth $43,000. MidAtlantic Capital Management Inc. bought a new position in Netflix in the 3rd quarter worth $37,000. Finally, FSA Wealth Management LLC purchased a new position in Netflix during the third quarter valued at $38,000. 80.93% of the stock is currently owned by institutional investors.
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.
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