Netflix (NASDAQ:NFLX) Trading 0.9% Higher on Better-Than-Expected Earnings

Netflix, Inc. (NASDAQ:NFLX)’s share price shot up 0.9% during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $974.50 and last traded at $970.00. 1,745,417 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 3,713,222 shares. The stock had previously closed at $961.63.

The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. During the same quarter in the prior year, the business posted $8.28 earnings per share.

Analyst Ratings Changes

Several brokerages recently issued reports on NFLX. Sanford C. Bernstein upgraded shares of Netflix from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $975.00 to $1,200.00 in a research report on Friday, January 24th. KeyCorp cut their price target on shares of Netflix from $1,100.00 to $1,000.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. UBS Group lowered their price objective on Netflix from $1,150.00 to $1,140.00 and set a “buy” rating for the company in a research report on Tuesday. Pivotal Research reiterated a “buy” rating on shares of Netflix in a report on Thursday. Finally, Loop Capital reiterated a “hold” rating on shares of Netflix in a report on Monday, March 24th. Ten investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,023.49.

Insider Transactions at Netflix

In other news, CAO Jeffrey William Karbowski sold 480 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $986.75, for a total value of $473,640.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David A. Hyman sold 424 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $994.63, for a total transaction of $421,723.12. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $31,440,254.30. This trade represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 274,312 shares of company stock worth $267,919,297 in the last three months. Company insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

A number of hedge funds and other institutional investors have recently modified their holdings of NFLX. West Michigan Advisors LLC raised its position in shares of Netflix by 1.3% in the 4th quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock valued at $692,000 after purchasing an additional 10 shares in the last quarter. Warwick Investment Management Inc. boosted its stake in Netflix by 3.5% during the 4th quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network’s stock valued at $266,000 after acquiring an additional 10 shares during the last quarter. MRP Capital Investments LLC grew its holdings in Netflix by 1.0% during the 4th quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network’s stock worth $938,000 after acquiring an additional 10 shares in the last quarter. Bedell Frazier Investment Counselling LLC increased its position in shares of Netflix by 2.2% in the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network’s stock worth $412,000 after purchasing an additional 10 shares during the last quarter. Finally, Mission Creek Capital Partners Inc. raised its stake in shares of Netflix by 0.3% in the 4th quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network’s stock valued at $3,410,000 after purchasing an additional 10 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Up 1.2 %

The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market cap of $416.22 billion, a P/E ratio of 49.07, a PEG ratio of 2.12 and a beta of 1.55. The firm’s 50-day moving average price is $954.87 and its 200 day moving average price is $891.82.

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.