Netflix (NASDAQ:NFLX) Stock Price Up 0.9% on Earnings Beat

Netflix, Inc. (NASDAQ:NFLX)’s share price shot up 0.9% during trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $619.80 and last traded at $618.92. 1,160,580 shares were traded during mid-day trading, a decline of 72% from the average session volume of 4,198,756 shares. The stock had previously closed at $613.69.

The Internet television network reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.77. The firm had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.46%. The company’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.88 EPS.

Wall Street Analyst Weigh In

NFLX has been the subject of several analyst reports. Bank of America boosted their target price on shares of Netflix from $650.00 to $700.00 and gave the company a “buy” rating in a research note on Friday. Rosenblatt Securities lowered their target price on shares of Netflix from $554.00 to $540.00 and set a “neutral” rating on the stock in a research note on Friday. Barclays lifted their price target on Netflix from $475.00 to $550.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Needham & Company LLC upgraded Netflix from a “hold” rating to a “buy” rating and set a $700.00 price target on the stock in a research report on Friday. Finally, KeyCorp lifted their price objective on Netflix from $580.00 to $705.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $630.58.

Insider Buying and Selling

In other Netflix news, Director Jay C. Hoag sold 47,000 shares of the stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $550.50, for a total transaction of $25,873,500.00. Following the completion of the transaction, the director now directly owns 431,034 shares of the company’s stock, valued at approximately $237,284,217. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider David A. Hyman sold 47,574 shares of the stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $17,003,651.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jay C. Hoag sold 47,000 shares of Netflix stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $550.50, for a total transaction of $25,873,500.00. Following the completion of the transaction, the director now owns 431,034 shares in the company, valued at approximately $237,284,217. The disclosure for this sale can be found here. Insiders have sold a total of 268,335 shares of company stock valued at $151,619,811 over the last quarter. Corporate insiders own 2.45% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several large investors have recently modified their holdings of the stock. KFA Private Wealth Group LLC boosted its position in shares of Netflix by 1.9% in the 4th quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock valued at $466,000 after purchasing an additional 18 shares during the period. Legacy Capital Group California Inc. raised its holdings in shares of Netflix by 0.6% during the fourth quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network’s stock valued at $1,379,000 after acquiring an additional 18 shares during the period. Founders Financial Alliance LLC raised its holdings in shares of Netflix by 2.4% during the fourth quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock valued at $369,000 after acquiring an additional 18 shares during the period. Capital Advisors Ltd. LLC lifted its position in shares of Netflix by 4.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 411 shares of the Internet television network’s stock valued at $250,000 after acquiring an additional 18 shares in the last quarter. Finally, Addison Advisors LLC boosted its stake in Netflix by 7.8% in the 4th quarter. Addison Advisors LLC now owns 276 shares of the Internet television network’s stock worth $134,000 after purchasing an additional 20 shares during the period. 80.93% of the stock is owned by institutional investors.

Netflix Stock Performance

The firm’s 50-day simple moving average is $605.65 and its two-hundred day simple moving average is $513.07. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $240.20 billion, a PE ratio of 38.52, a PEG ratio of 1.64 and a beta of 1.22.

Netflix Company Profile

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.