Netflix (NASDAQ:NFLX) Stock Price Up 1.7% – Here’s Why

Netflix, Inc. (NASDAQ:NFLXGet Free Report) was up 1.7% during trading on Friday . The company traded as high as $70.68 and last traded at $70.09. Approximately 35,314,285 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 45,950,688 shares. The stock had previously closed at $68.89.

Key Headlines Impacting Netflix

Here are the key news stories impacting Netflix this week:

Analyst Ratings Changes

NFLX has been the subject of several analyst reports. TD Cowen decreased their target price on Netflix from $112.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, July 17th. Guggenheim set a $75.00 price target on shares of Netflix and gave the company a “buy” rating in a research report on Friday, July 17th. DZ Bank reissued a “buy” rating on shares of Netflix in a research note on Friday, April 17th. Citizens Jmp reaffirmed a “market perform” rating on shares of Netflix in a research note on Wednesday, April 15th. Finally, Weiss Ratings lowered shares of Netflix from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 26th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $103.48.

View Our Latest Stock Analysis on NFLX

Netflix Stock Performance

The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 1.41. The company has a market cap of $291.89 billion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 0.86 and a beta of 1.52. The stock has a 50-day moving average price of $78.67 and a 200 day moving average price of $86.16.

Netflix (NASDAQ:NFLXGet Free Report) last issued its quarterly earnings data on Thursday, July 16th. The Internet television network reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.01. The business had revenue of $12.56 billion during the quarter, compared to analyst estimates of $12.58 billion. Netflix had a return on equity of 40.02% and a net margin of 28.22%.Netflix’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.72 EPS. As a group, analysts anticipate that Netflix, Inc. will post 3.59 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Gregory K. Peters sold 27,312 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $88.69, for a total transaction of $2,422,301.28. Following the completion of the sale, the chief executive officer owned 120,931 shares of the company’s stock, valued at $10,725,370.39. This represents a 18.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Reed Hastings sold 407,550 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $93.13, for a total transaction of $37,955,131.50. Following the sale, the director owned 3,940 shares in the company, valued at approximately $366,932.20. The trade was a 99.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 899,839 shares of company stock valued at $80,141,661. 1.24% of the stock is owned by corporate insiders.

Institutional Trading of Netflix

Several hedge funds and other institutional investors have recently modified their holdings of NFLX. First Financial Corp IN lifted its stake in Netflix by 900.0% in the 4th quarter. First Financial Corp IN now owns 270 shares of the Internet television network’s stock valued at $25,000 after acquiring an additional 243 shares in the last quarter. DiNuzzo Private Wealth Inc. grew its stake in shares of Netflix by 885.2% during the 4th quarter. DiNuzzo Private Wealth Inc. now owns 266 shares of the Internet television network’s stock worth $25,000 after acquiring an additional 239 shares in the last quarter. Turning Point Benefit Group Inc. raised its holdings in shares of Netflix by 13,400.0% in the fourth quarter. Turning Point Benefit Group Inc. now owns 270 shares of the Internet television network’s stock valued at $25,000 after purchasing an additional 268 shares during the last quarter. Imprint Wealth LLC acquired a new stake in shares of Netflix in the third quarter valued at approximately $25,000. Finally, Cornerstone Financial Management LLC bought a new stake in shares of Netflix in the fourth quarter worth $26,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

About Netflix

(Get Free Report)

Netflix, Inc (NASDAQ: NFLX) is a global entertainment company that provides subscription-based streaming of films, television series, documentaries and other video content. Founded in 1997 by Reed Hastings and Marc Randolph and headquartered in Los Gatos, California, the company began as a DVD-by-mail rental service and introduced streaming video in 2007. Netflix later expanded into producing and distributing original programming, beginning notable original hits in the 2010s, and now operates a content production and distribution ecosystem alongside its licensing activity.

The company’s primary product is its on-demand streaming service, which can be accessed on a wide range of internet-connected devices and delivered through a suite of apps and web platforms.

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