Netflix (NASDAQ:NFLX) Shares Up 1.7% - What's Next?

Netflix, Inc. (NASDAQ:NFLX - Get Free Report)'s share price shot up 1.7% during trading on Thursday . The stock traded as high as $1,166.85 and last traded at $1,170.91. 1,102,987 shares changed hands during trading, a decline of 71% from the average session volume of 3,754,082 shares. The stock had previously closed at $1,150.99.

Analyst Upgrades and Downgrades

NFLX has been the topic of several research analyst reports. Cfra Research raised Netflix to a "strong-buy" rating in a research report on Monday, April 28th. Seaport Res Ptn raised shares of Netflix from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 15th. Piper Sandler set a $1,150.00 price objective on Netflix and gave the company an "overweight" rating in a research note on Monday, April 21st. Oppenheimer reiterated an "outperform" rating and issued a $1,200.00 price objective (up from $1,150.00) on shares of Netflix in a research note on Friday, April 18th. Finally, Robert W. Baird upped their price target on shares of Netflix from $875.00 to $1,200.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Netflix has an average rating of "Moderate Buy" and a consensus target price of $1,084.91.

Netflix Trading Up 3.0%

The firm has a market capitalization of $504.52 billion, a price-to-earnings ratio of 59.77, a P/E/G ratio of 2.12 and a beta of 1.58. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The firm's 50-day simple moving average is $997.19 and its 200 day simple moving average is $939.66.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.74 by $0.87. The business had revenue of $10.54 billion during the quarter, compared to analyst estimates 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 company earned $8.28 EPS. Equities analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other Netflix news, Chairman Reed Hastings sold 25,360 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total value of $23,360,364.00. Following the completion of the transaction, the chairman now directly owns 394 shares of the company's stock, valued at $362,933.10. This trade represents a 98.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jay C. Hoag sold 32,515 shares of Netflix stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the sale, the director now directly owns 79,040 shares of the company's stock, valued at $87,099,708.80. This represents a 29.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 132,868 shares of company stock worth $138,483,256. Insiders own 1.76% of the company's stock.

Hedge Funds Weigh In On Netflix

A number of large investors have recently bought and sold shares of the stock. Halbert Hargrove Global Advisors LLC grew its holdings in Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after purchasing an additional 13 shares during the period. Pathway Financial Advisers LLC lifted its position in Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock valued at $27,000 after purchasing an additional 14 shares during the period. Brown Shipley& Co Ltd bought a new position in Netflix during the fourth quarter valued at approximately $27,000. Transce3nd LLC bought a new position in Netflix during the fourth quarter valued at approximately $32,000. Finally, Newton One Investments LLC bought a new position in Netflix in the fourth quarter worth approximately $34,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

About Netflix

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.

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