Netflix Inc. (NFLX) Bond Prices Rise 1.9% Insider Trade
An issue of Netflix Inc. (NASDAQ:NFLX) debt rose 1.9% against its face value during trading on Wednesday after an insider sold shares in the company. The high-yield debt issue has a 5.875% coupon and is set to mature on February 15, 2025. The bonds in the issue are now trading at $113.00 and were trading at $107.95 one week ago. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its stock price. Specifically, Director Richard N. Barton sold 1,400 shares of the business’s stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $95.63, for a total transaction of $133,882.00. Following the completion of the sale, the director now owns 15,562 shares in the company, valued at $1,488,194.06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jay C. Hoag acquired 600,000 shares of the firm’s stock in a transaction dated Monday, July 25th. The shares were purchased at an average price of $86.43 per share, with a total value of $51,858,000.00. The disclosure for this purchase can be found here. Insiders own 4.90% of the company’s stock.
Several research firms have recently commented on NFLX. Needham & Company LLC downgraded Netflix from a “buy” rating to a “hold” rating and boosted their price objective for the company from $95.15 to $96.67 in a report on Tuesday, July 5th. Bank of America Corp. restated a “buy” rating and set a $146.00 price objective on shares of Netflix in a report on Friday, August 26th. Wedbush boosted their price objective on Netflix from $45.00 to $50.00 and gave the company an “underperform” rating in a report on Tuesday, July 19th. Vetr downgraded Netflix from a “strong-buy” rating to a “buy” rating and set a $102.41 price objective for the company. in a report on Wednesday, July 27th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $122.00 target price on shares of Netflix in a research report on Wednesday, September 7th. Seven investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $110.97.
The company has a market cap of $45.56 billion, a P/E ratio of 332.12 and a beta of 1.14. The firm has a 50 day moving average of $97.70 and a 200 day moving average of $96.24.
Netflix (NASDAQ:NFLX) last posted its earnings results on Monday, July 18th. The Internet television network reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.07. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period in the prior year, the company posted $0.06 EPS. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. Equities analysts predict that Netflix Inc. will post $0.29 EPS for the current fiscal year.
Several large investors have recently bought and sold shares of NFLX. Cornerstone Advisors Inc. raised its stake in Netflix by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,118 shares of the Internet television network’s stock valued at $102,000 after buying an additional 228 shares during the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in Netflix during the second quarter valued at about $124,000. Quadrant Capital Group LLC raised its stake in Netflix by 15.1% in the second quarter. Quadrant Capital Group LLC now owns 1,475 shares of the Internet television network’s stock valued at $126,000 after buying an additional 194 shares during the last quarter. Coconut Grove Bank raised its stake in Netflix by 1.7% in the second quarter. Coconut Grove Bank now owns 1,526 shares of the Internet television network’s stock valued at $140,000 after buying an additional 26 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in Netflix by 15.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,690 shares of the Internet television network’s stock valued at $155,000 after buying an additional 224 shares during the last quarter. 78.43% of the stock is currently owned by institutional investors and hedge funds.
Netflix Company Profile
Netflix, Inc (Netflix) is a provider of Internet television network. The Company’s members can watch original series, documentaries and feature films in Internet-connected screen. The Company has three operating segments: Domestic streaming, International streaming and Domestic DVD. The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content.
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