Traders Buy Shares of Netflix, Inc. (NFLX) on Weakness
Investors bought shares of Netflix, Inc. (NASDAQ:NFLX) on weakness during trading on Monday. $341.27 million flowed into the stock on the tick-up and $303.10 million flowed out of the stock on the tick-down, for a money net flow of $38.17 million into the stock. Of all stocks tracked, Netflix had the 8th highest net in-flow for the day. Netflix traded down ($4.34) for the day and closed at $177.01
Several research analysts have weighed in on NFLX shares. Canaccord Genuity boosted their price objective on Netflix from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, June 16th. Vetr upgraded Netflix from a “hold” rating to a “buy” rating and set a $168.81 price objective for the company in a research note on Monday, June 12th. Goldman Sachs Group, Inc. (The) set a $175.00 target price on Netflix and gave the company a “buy” rating in a research report on Wednesday, June 28th. Guggenheim reaffirmed a “buy” rating and set a $180.00 target price (up from $175.00) on shares of Netflix in a research report on Tuesday, June 20th. Finally, Zacks Investment Research upgraded Netflix from a “hold” rating to a “buy” rating and set a $171.00 target price on the stock in a research note on Tuesday, June 20th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty-nine have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $180.15.
The firm’s 50 day moving average price is $175.28 and its 200-day moving average price is $160.06. The stock has a market capitalization of $76.42 billion, a price-to-earnings ratio of 215.87 and a beta of 1.09.
Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Monday, July 17th. The Internet television network reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.01). The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.76 billion. Netflix had a net margin of 3.55% and a return on equity of 12.82%. The business’s quarterly revenue was up 32.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.09 earnings per share. Equities research analysts predict that Netflix, Inc. will post $1.17 earnings per share for the current year.
In other news, Director Richard N. Barton sold 2,000 shares of the company’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $169.18, for a total transaction of $338,360.00. Following the transaction, the director now owns 8,012 shares in the company, valued at $1,355,470.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jonathan Friedland sold 2,496 shares of the company’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $182.17, for a total transaction of $454,696.32. Following the transaction, the insider now owns 1,232 shares in the company, valued at approximately $224,433.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 308,325 shares of company stock valued at $55,447,238. 4.90% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Almanack Investment Partners LLC. acquired a new position in Netflix during the 2nd quarter valued at approximately $101,000. TD Capital Management LLC acquired a new stake in shares of Netflix during the second quarter worth $105,000. Appropriate Balance Financial Services Inc. lifted its stake in shares of Netflix by 5.6% during the second quarter. Appropriate Balance Financial Services Inc. now owns 702 shares of the Internet television network’s stock worth $4,701,000 after buying an additional 37 shares during the period. SRS Capital Advisors Inc. lifted its stake in shares of Netflix by 3,361.9% during the first quarter. SRS Capital Advisors Inc. now owns 727 shares of the Internet television network’s stock worth $107,000 after buying an additional 706 shares during the period. Finally, Harfst & Associates Inc. acquired a new stake in shares of Netflix during the first quarter worth $109,000. Institutional investors own 81.03% of the company’s stock.
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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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