Netflix (NASDAQ:NFLX) Stock Price Up 2.7%

Netflix, Inc. (NASDAQ:NFLX)’s share price rose 2.7% during mid-day trading on Thursday . The company traded as high as $709.30 and last traded at $708.96. Approximately 807,497 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 3,717,933 shares. The stock had previously closed at $690.47.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Benchmark raised their target price on shares of Netflix from $450.00 to $545.00 and gave the company a “sell” rating in a research report on Tuesday, July 16th. Bank of America raised their price objective on Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a report on Monday, July 15th. Sanford C. Bernstein upped their target price on Netflix from $600.00 to $625.00 and gave the stock a “market perform” rating in a report on Friday, July 19th. TD Cowen lifted their price target on Netflix from $725.00 to $775.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Finally, Loop Capital upped their price objective on Netflix from $700.00 to $750.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and an average price target of $685.29.

Netflix Stock Performance

The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The company has a market cap of $302.14 billion, a P/E ratio of 48.65, a PEG ratio of 1.40 and a beta of 1.26. The business’s 50 day simple moving average is $663.00 and its 200 day simple moving average is $640.55.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The company had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. During the same period in the previous year, the firm earned $3.29 EPS. The firm’s revenue was up 16.8% compared to the same quarter last year. Sell-side analysts predict that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Netflix news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $626.19, for a total transaction of $271,140.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. The disclosure for this sale can be found here. In the last three months, insiders sold 197,226 shares of company stock valued at $129,858,692. Insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several hedge funds and other institutional investors have recently modified their holdings of NFLX. Wellington Management Group LLP grew its holdings in shares of Netflix by 540.9% in the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock valued at $1,888,503,000 after purchasing an additional 3,273,592 shares in the last quarter. GQG Partners LLC acquired a new stake in Netflix during the 1st quarter worth $1,450,476,000. Jennison Associates LLC lifted its holdings in shares of Netflix by 17.0% in the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after purchasing an additional 929,193 shares during the last quarter. Global Assets Advisory LLC purchased a new stake in Netflix in the first quarter valued at approximately $436,514,000. Finally, Jericho Capital Asset Management L.P. acquired a new stake in Netflix during the 1st quarter worth $372,293,000. 80.93% of the stock is owned by hedge funds and other 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.