Investors Buy Netflix, Inc. (NFLX) on Weakness
Traders bought shares of Netflix, Inc. (NASDAQ:NFLX) on weakness during trading hours on Tuesday. $277.08 million flowed into the stock on the tick-up and $251.20 million flowed out of the stock on the tick-down, for a money net flow of $25.88 million into the stock. Of all companies tracked, Netflix had the 20th highest net in-flow for the day. Netflix traded down ($2.50) for the day and closed at $168.50
NFLX has been the topic of several research analyst reports. Stifel Nicolaus upped their price objective on Netflix from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, April 18th. Royal Bank Of Canada restated an “outperform” rating and issued a $175.00 price objective on shares of Netflix in a research note on Monday, April 17th. FBR & Co upped their price objective on Netflix from $144.00 to $145.00 and gave the company a “mkt perform” rating in a research note on Tuesday, April 18th. Jefferies Group LLC upped their price objective on Netflix from $135.00 to $141.00 and gave the company a “hold” rating in a research note on Wednesday, April 19th. Finally, Vetr upgraded Netflix from a “sell” rating to a “hold” rating and set a $165.75 price objective on the stock in a research note on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-eight have given a buy rating to the company. Netflix presently has an average rating of “Buy” and an average price target of $175.13.
The firm has a market capitalization of $72.75 billion, a price-to-earnings ratio of 204.99 and a beta of 1.02. The stock’s 50 day moving average is $169.45 and its 200-day moving average is $154.36.
Netflix (NASDAQ:NFLX) last released its earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by $0.01. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.76 billion. Netflix had a return on equity of 12.82% and a net margin of 3.55%. The firm’s revenue for the quarter was up 32.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 EPS. Equities research analysts anticipate that Netflix, Inc. will post $1.19 EPS for the current year.
In other news, CEO Reed Hastings sold 115,577 shares of the company’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $152.63, for a total value of $17,640,517.51. Following the sale, the chief executive officer now directly owns 115,577 shares of the company’s stock, valued at approximately $17,640,517.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard N. Barton sold 2,000 shares of the company’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $157.81, for a total transaction of $315,620.00. Following the completion of the sale, the director now directly owns 8,012 shares in the company, valued at $1,264,373.72. The disclosure for this sale can be found here. Insiders sold a total of 389,801 shares of company stock worth $64,889,201 over the last ninety days. Insiders own 4.90% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. CENTRAL TRUST Co increased its stake in Netflix by 408.4% in the first quarter. CENTRAL TRUST Co now owns 849 shares of the Internet television network’s stock valued at $125,000 after buying an additional 682 shares during the period. Heritage Investors Management Corp increased its stake in Netflix by 6.7% in the first quarter. Heritage Investors Management Corp now owns 1,983 shares of the Internet television network’s stock valued at $293,000 after buying an additional 125 shares during the period. CWM LLC increased its stake in Netflix by 474.3% in the first quarter. CWM LLC now owns 1,453 shares of the Internet television network’s stock valued at $215,000 after buying an additional 1,200 shares during the period. Reilly Financial Advisors LLC increased its stake in Netflix by 75.9% in the first quarter. Reilly Financial Advisors LLC now owns 1,680 shares of the Internet television network’s stock valued at $248,000 after buying an additional 725 shares during the period. Finally, Vicus Capital acquired a new stake in Netflix during the first quarter valued at approximately $208,000. 82.94% of the stock is currently owned by institutional investors and hedge funds.
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Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.
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