Netflix (NASDAQ:NFLX) Shares Up 5.3% – Here’s What Happened

Shares of Netflix, Inc. (NASDAQ:NFLX) were up 5.3% on Tuesday . The company traded as high as $991.48 and last traded at $980.84. Approximately 3,533,293 shares changed hands during trading, a decline of 4% from the average daily volume of 3,692,055 shares. The stock had previously closed at $931.28.

Analyst Upgrades and Downgrades

NFLX has been the subject of several analyst reports. Benchmark raised shares of Netflix from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a research note on Wednesday, January 22nd. Moffett Nathanson upgraded Netflix from a “neutral” rating to a “buy” rating and increased their price objective for the company from $850.00 to $1,100.00 in a report on Monday, March 17th. Barclays raised shares of Netflix from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $715.00 to $900.00 in a research report on Wednesday, January 22nd. Finally, The Goldman Sachs Group raised their price target on shares of Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,021.31.

Netflix Stock Performance

The stock has a 50-day moving average price of $958.50 and a 200 day moving average price of $887.03. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $420.40 billion, a price-to-earnings ratio of 49.56, a P/E/G ratio of 2.12 and a beta of 1.55.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.11 EPS. On average, analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Buying and Selling at Netflix

In other news, Director Jay C. Hoag sold 617 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total value of $604,481.07. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David A. Hyman sold 41,121 shares of Netflix stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at approximately $30,946,506.10. This trade represents a 56.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 274,312 shares of company stock worth $267,919,297 over the last 90 days. Corporate insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. West Michigan Advisors LLC boosted its stake in shares of Netflix by 1.3% in the fourth quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock valued at $692,000 after buying an additional 10 shares in the last quarter. Warwick Investment Management Inc. grew its stake in shares of Netflix by 3.5% during the 4th quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network’s stock worth $266,000 after purchasing an additional 10 shares during the period. MRP Capital Investments LLC increased its holdings in shares of Netflix by 1.0% in the 4th quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network’s stock valued at $938,000 after purchasing an additional 10 shares in the last quarter. Bedell Frazier Investment Counselling LLC lifted its stake in shares of Netflix by 2.2% in the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network’s stock valued at $412,000 after purchasing an additional 10 shares during the period. Finally, Mission Creek Capital Partners Inc. boosted its holdings in Netflix by 0.3% during the fourth quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network’s stock worth $3,410,000 after buying an additional 10 shares in the last quarter. 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.