Netflix (NASDAQ:NFLX) Announces Earnings Results, Beats Estimates By $0.77 EPS

Netflix (NASDAQ:NFLX - Get Free Report) announced its quarterly earnings data on Thursday. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.77, Briefing.com reports. Netflix had a net margin of 16.04% and a return on equity of 24.76%. The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. During the same quarter last year, the firm earned $2.88 earnings per share. The firm's quarterly revenue was up 14.8% compared to the same quarter last year.

Netflix Stock Down 0.5 %

Shares of NFLX stock traded down $3.13 during trading hours on Thursday, reaching $610.56. 8,292,291 shares of the company's stock were exchanged, compared to its average volume of 4,290,592. The stock's 50 day moving average is $605.77 and its 200-day moving average is $511.86. The company has a market cap of $264.23 billion, a price-to-earnings ratio of 50.84, a P/E/G ratio of 1.67 and a beta of 1.22. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.69. Netflix has a fifty-two week low of $315.62 and a fifty-two week high of $639.00.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Canaccord Genuity Group boosted their target price on Netflix from $575.00 to $625.00 and gave the company a "buy" rating in a research report on Wednesday, January 24th. Barclays boosted their target price on Netflix from $475.00 to $550.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 9th. Wedbush boosted their target price on Netflix from $615.00 to $725.00 and gave the company an "outperform" rating in a research report on Wednesday, March 27th. UBS Group boosted their target price on Netflix from $570.00 to $685.00 and gave the company a "buy" rating in a research report on Tuesday, February 27th. Finally, Sanford C. Bernstein boosted their target price on Netflix from $390.00 to $490.00 and gave the company a "market perform" rating in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $614.75.

Insider Transactions at Netflix

In other news, insider David A. Hyman sold 47,574 shares of the company's stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the transaction, the insider now directly owns 31,610 shares of the company's stock, valued at $17,003,651.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Theodore A. Sarandos sold 68,957 shares of the business's stock in a transaction on Friday, February 9th. The shares were sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the sale, the chief executive officer now directly owns 1,278 shares of the company's stock, valued at $717,379.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David A. Hyman sold 47,574 shares of the business's stock in a transaction 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 sale, the insider now directly owns 31,610 shares in the company, valued at $17,003,651.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 268,335 shares of company stock valued at $151,619,811. Corporate insiders own 2.45% of the company's stock.

Institutional Investors Weigh In On Netflix

A number of large investors have recently made changes to their positions in the stock. Aspect Partners LLC purchased a new stake in shares of Netflix in the 4th quarter valued at approximately $32,000. Evermay Wealth Management LLC boosted its position in Netflix by 94.9% in the 1st quarter. Evermay Wealth Management LLC now owns 115 shares of the Internet television network's stock valued at $40,000 after buying an additional 56 shares during the period. Resurgent Financial Advisors LLC purchased a new position in Netflix in the 4th quarter valued at approximately $42,000. KB Financial Partners LLC boosted its position in Netflix by 108.5% in the 2nd quarter. KB Financial Partners LLC now owns 98 shares of the Internet television network's stock valued at $43,000 after buying an additional 51 shares during the period. Finally, Financial Freedom LLC purchased a new position in Netflix in the 4th quarter valued at approximately $47,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

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.