Netflix (NASDAQ:NFLX) Stock Price Up 2.7% - Here's What Happened

Key Points

• Netflix's shares rose by 2.7% to trade at $1,237.19, although trading volume declined 65% from the average.
• The stock has received a mix of ratings, with 22 buy ratings, 11 hold ratings, and 3 sell ratings, resulting in a consensus "Moderate Buy" status.
• Netflix reported $7.19 earnings per share for the last quarter, beating expectations and marking a 15.9% year-over-year revenue growth.

Netflix, Inc. (NASDAQ:NFLX - Get Free Report) shares rose 2.7% during trading on Thursday . The company traded as high as $1,238.35 and last traded at $1,237.19. Approximately 1,445,696 shares changed hands during trading, a decline of 65% from the average daily volume of 4,173,661 shares. The stock had previously closed at $1,204.44.

Analysts Set New Price Targets

NFLX has been the topic of a number of research analyst reports. Moffett Nathanson reiterated a "buy" rating and set a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Needham & Company LLC restated a "buy" rating and issued a $1,500.00 price objective on shares of Netflix in a research report on Friday, July 18th. Macquarie upped their price objective on Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a research report on Monday, April 21st. Seaport Res Ptn downgraded Netflix from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 6th. Finally, Evercore ISI restated an "outperform" rating on shares of Netflix in a research report on Thursday, May 15th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Netflix currently has an average rating of "Moderate Buy" and an average target price of $1,297.66.

Netflix Trading Up 0.7%

The company has a market cap of $526.47 billion, a price-to-earnings ratio of 52.79, a price-to-earnings-growth ratio of 2.07 and a beta of 1.59. The firm has a 50-day moving average price of $1,231.23 and a 200 day moving average price of $1,102.15. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping the consensus estimate of $7.07 by $0.12. The company had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The business's revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the firm earned $4.88 EPS. As a group, sell-side analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Transactions at Netflix

In other news, CEO Gregory K. Peters sold 2,026 shares of Netflix stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $1,157.44, for a total value of $2,344,973.44. Following the completion of the transaction, the chief executive officer owned 12,781 shares in the company, valued at approximately $14,793,240.64. This trade represents a 13.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total value of $3,400,079.22. Following the completion of the sale, the chief financial officer directly owned 3,691 shares in the company, valued at approximately $4,824,949.02. This trade represents a 41.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 146,307 shares of company stock worth $179,443,809 in the last quarter. Insiders own 1.37% of the company's stock.

Institutional Trading of Netflix

Hedge funds have recently made changes to their positions in the stock. Halbert Hargrove Global Advisors LLC raised its stake in Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after acquiring an additional 13 shares in the last quarter. Brown Shipley& Co Ltd bought a new stake in Netflix during the 4th quarter valued at $27,000. Legacy Investment Solutions LLC bought a new stake in Netflix during the 2nd quarter valued at $31,000. Transce3nd LLC bought a new stake in Netflix during the 4th quarter valued at $32,000. Finally, Stephens Consulting LLC raised its stake in Netflix by 150.0% during the 2nd quarter. Stephens Consulting LLC now owns 25 shares of the Internet television network's stock valued at $33,000 after acquiring an additional 15 shares in the last quarter. Institutional investors own 80.93% of the company's stock.

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.