Netflix (NASDAQ:NFLX) Stock Price Up 0.8%

Shares of Netflix, Inc. (NASDAQ:NFLX) rose 0.8% on Wednesday . The stock traded as high as $680.12 and last traded at $677.51. Approximately 1,044,893 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 3,989,300 shares. The stock had previously closed at $672.41.

Wall Street Analyst Weigh In

NFLX has been the subject of several recent analyst reports. Benchmark boosted their price target on Netflix from $440.00 to $450.00 and gave the stock a “sell” rating in a research note on Friday, May 17th. Canaccord Genuity Group reissued a “hold” rating and set a $585.00 price target (down previously from $720.00) on shares of Netflix in a report on Friday, April 19th. Loop Capital boosted their price target on Netflix from $700.00 to $750.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. BMO Capital Markets reissued an “outperform” rating and set a $713.00 price target (up previously from $638.00) on shares of Netflix in a report on Wednesday, April 17th. Finally, Sanford C. Bernstein boosted their price target on Netflix from $490.00 to $600.00 and gave the company a “market perform” rating in a report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $633.53.

Netflix Stock Performance

The stock has a market cap of $294.95 billion, a price-to-earnings ratio of 47.49, a price-to-earnings-growth ratio of 1.46 and a beta of 1.26. The stock’s 50-day moving average is $625.06 and its 200-day moving average is $581.29. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.77. The firm had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.88 EPS. Analysts anticipate that Netflix, Inc. will post 18.31 EPS for the current fiscal year.

Insider Activity

In related news, insider David A. Hyman sold 268 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $593.62, for a total value of $159,090.16. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at approximately $18,764,328.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider David A. Hyman sold 268 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $593.62, for a total value of $159,090.16. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $18,764,328.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anne M. Sweeney sold 633 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $560.00, for a total transaction of $354,480.00. The disclosure for this sale can be found here. Insiders sold 69,425 shares of company stock worth $41,919,791 over the last three months. Corporate insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Spartan Planning & Wealth Management acquired a new position in Netflix during the third quarter worth $26,000. Valued Wealth Advisors LLC lifted its holdings in shares of Netflix by 80.0% in the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 20 shares during the last quarter. VitalStone Financial LLC raised its holdings in Netflix by 933.3% in the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after buying an additional 56 shares during the last quarter. Beaird Harris Wealth Management LLC raised its holdings in Netflix by 1,550.0% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after buying an additional 62 shares during the last quarter. Finally, Scarborough Advisors LLC bought a new position in Netflix in the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

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.