Netflix (NASDAQ:NFLX) Stock Price Up 1% – Here’s What Happened

Netflix, Inc. (NASDAQ:NFLX) shares shot up 1% during mid-day trading on Tuesday . The stock traded as high as $921.38 and last traded at $920.98. 701,484 shares traded hands during trading, a decline of 80% from the average session volume of 3,595,220 shares. The stock had previously closed at $911.45.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NFLX. UBS Group boosted their price objective on Netflix from $825.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Morgan Stanley upped their price target on shares of Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a report on Friday, October 18th. The Goldman Sachs Group set a $750.00 price target on shares of Netflix in a report on Friday, October 18th. KeyCorp upped their price objective on shares of Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Finally, Jefferies Financial Group increased their target price on shares of Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and a consensus price target of $807.70.

Netflix Stock Up 2.3 %

The company’s 50 day simple moving average is $836.73 and its 200-day simple moving average is $731.55. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm has a market cap of $398.44 billion, a P/E ratio of 52.75, a PEG ratio of 1.77 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The company had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. Research analysts forecast that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Insider Activity

In related news, insider David A. Hyman sold 267 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $24,202,828.70. The trade was a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 48,363 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the transaction, the chairman now owns 114 shares in the company, valued at $102,212.40. The trade was a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 164,977 shares of company stock valued at $129,317,467 in the last ninety days. 1.76% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Netflix

Hedge funds have recently modified their holdings of the business. Denver PWM LLC bought a new stake in Netflix during the second quarter valued at about $25,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Netflix during the 3rd quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after acquiring an additional 42 shares during the period. MidAtlantic Capital Management Inc. purchased a new stake in Netflix in the 3rd quarter worth approximately $37,000. Finally, FSA Wealth Management LLC purchased a new stake in Netflix in the 3rd quarter worth approximately $38,000. Institutional investors own 80.93% of the company’s stock.

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.