Netflix (NASDAQ:NFLX) Trading Up 1.2% After Strong Earnings

Netflix, Inc. (NASDAQ:NFLX)’s share price was up 1.2% on Friday after the company announced better than expected quarterly earnings. The company traded as high as $984.70 and last traded at $973.03. Approximately 8,733,404 shares changed hands during mid-day trading, an increase of 133% from the average daily volume of 3,742,602 shares. The stock had previously closed at $961.63.

The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.74 by $0.87. The business had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same period last year, the firm earned $8.28 earnings per share.

Analyst Upgrades and Downgrades

NFLX has been the topic of a number of recent research reports. Oppenheimer restated an “outperform” rating on shares of Netflix in a research note on Friday. UBS Group lowered their price target on shares of Netflix from $1,150.00 to $1,140.00 and set a “buy” rating for the company in a report on Tuesday. Argus raised their price objective on shares of Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. cut their price target on Netflix from $1,150.00 to $1,025.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,023.49.

Insider Transactions at Netflix

In other news, CEO Gregory K. Peters sold 102,228 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the sale, the chief executive officer now owns 12,950 shares of the company’s stock, valued at $12,700,583. The trade was a 88.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total value of $2,397,393.72. Following the completion of the transaction, the chief financial officer now directly owns 3,691 shares of the company’s stock, valued at $3,402,068.52. The trade was a 41.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 274,312 shares of company stock valued at $267,919,297 in the last ninety days. 1.76% of the stock is currently owned by company insiders.

Institutional Trading of Netflix

A number of institutional investors have recently bought and sold shares of NFLX. Principal Financial Group Inc. grew its stake in Netflix by 13.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock valued at $1,200,485,000 after acquiring an additional 198,148 shares during the last quarter. M&T Bank Corp lifted its holdings in shares of Netflix by 4.2% in the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after purchasing an additional 1,684 shares in the last quarter. McIlrath & Eck LLC grew its position in shares of Netflix by 13.8% in the third quarter. McIlrath & Eck LLC now owns 247 shares of the Internet television network’s stock valued at $175,000 after purchasing an additional 30 shares during the last quarter. Advisory Resource Group increased its stake in shares of Netflix by 0.7% during the 3rd quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network’s stock worth $1,238,000 after purchasing an additional 12 shares in the last quarter. Finally, Virtu Financial LLC raised its position in shares of Netflix by 356.5% during the 3rd quarter. Virtu Financial LLC now owns 13,879 shares of the Internet television network’s stock worth $9,844,000 after purchasing an additional 10,839 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Trading Up 1.2 %

The business has a 50 day moving average of $955.57 and a 200-day moving average of $889.98. The stock has a market cap of $416.22 billion, a PE ratio of 49.07, a price-to-earnings-growth ratio of 2.12 and a beta of 1.55. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

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.