Netflix (NASDAQ:NFLX) Shares Climb 1.8% – What’s Next?

Shares of Netflix, Inc. (NASDAQ:NFLX) shot up 1.8% during trading on Tuesday. The stock traded as high as $68.78 and last traded at $68.69. 34,340,695 shares were traded during trading, a decline of 19% from the average daily volume of 42,558,652 shares. The stock had previously closed at $67.50.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wolfe Research reissued an “outperform” rating and issued a $95.00 price target (up from $84.00) on shares of Netflix in a report on Tuesday, August 25th. Sanford C. Bernstein started coverage on Netflix in a research report on Monday, September 28th. They issued a “buy” rating on the stock. Wedbush lowered their target price on Netflix from $118.00 to $105.00 and set an “outperform” rating on the stock in a research note on Friday, July 17th. New Street Research lifted their price target on Netflix from $96.00 to $102.00 and gave the stock a “neutral” rating in a report on Friday, July 17th. Finally, Oppenheimer set a $85.00 price target on Netflix and gave the company an “outperform” rating in a research note on Friday, July 17th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.18.

Netflix Price Performance

The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The company’s fifty day moving average price is $75.67 and its 200 day moving average price is $81.97. The company has a market capitalization of $286.02 billion, a P/E ratio of 21.62, a PEG ratio of 0.95 and a beta of 1.62.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, July 16th. The Internet television network reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. The firm had revenue of $12.56 billion for the quarter, compared to analyst estimates of $12.58 billion. Netflix had a return on equity of 40.02% and a net margin of 28.22%.The company’s revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the company earned $0.72 EPS. As a group, sell-side analysts forecast that Netflix, Inc. will post 3.59 EPS for the current year.

Insider Activity at Netflix

In related news, CEO Theodore A. Sarandos sold 27,312 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $73.35, for a total transaction of $2,003,335.20. Following the completion of the sale, the chief executive officer owned 178,954 shares of the company’s stock, valued at $13,126,275.90. This represents a 13.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Richard N. Barton sold 720 shares of the stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $75.27, for a total transaction of $54,194.40. Following the sale, the director owned 2,460 shares in the company, valued at $185,164.20. The trade was a 22.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 179,045 shares of company stock worth $13,132,194 in the last quarter. 1.24% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Netflix

Several hedge funds have recently bought and sold shares of the company. American Capital Advisory LLC boosted its stake in Netflix by 0.8% in the first quarter. American Capital Advisory LLC now owns 13,990 shares of the Internet television network’s stock worth $1,345,000 after buying an additional 109 shares in the last quarter. CWS Financial Advisors LLC raised its stake in shares of Netflix by 3.2% during the first quarter. CWS Financial Advisors LLC now owns 3,612 shares of the Internet television network’s stock worth $347,000 after acquiring an additional 112 shares in the last quarter. Warner Group LLC raised its stake in shares of Netflix by 2.2% during the first quarter. Warner Group LLC now owns 5,230 shares of the Internet television network’s stock worth $503,000 after acquiring an additional 114 shares in the last quarter. Financial Avengers Inc. lifted its holdings in shares of Netflix by 9.8% in the 1st quarter. Financial Avengers Inc. now owns 1,290 shares of the Internet television network’s stock worth $124,000 after acquiring an additional 115 shares during the last quarter. Finally, PAX Financial Group LLC lifted its holdings in shares of Netflix by 2.5% in the 1st quarter. PAX Financial Group LLC now owns 4,847 shares of the Internet television network’s stock worth $466,000 after acquiring an additional 116 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

About Netflix

Netflix, Inc (NASDAQ:NFLX) is a global entertainment company that operates a subscription-based streaming service. It offers a broad range of television series, films, documentaries, and other programming, including original productions developed under the Netflix brand and licensed content from third-party studios.

The company also provides advertising-supported viewing options in some markets and has expanded into related entertainment categories, including mobile and cloud-based games, live programming, and consumer products associated with selected titles.