Netflix (NASDAQ:NFLX) Stock Price Up 0.9% - Here's Why

Netflix, Inc. (NASDAQ:NFLX - Get Free Report)'s share price rose 0.9% during trading on Wednesday . The company traded as high as $1,152.90 and last traded at $1,148.23. Approximately 979,221 shares were traded during trading, a decline of 74% from the average daily volume of 3,748,014 shares. The stock had previously closed at $1,138.44.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Netflix from $650.00 to $875.00 and gave the company a "hold" rating in a research report on Wednesday, January 22nd. Canaccord Genuity Group lifted their price target on Netflix from $1,200.00 to $1,380.00 and gave the stock a "buy" rating in a report on Friday. The Goldman Sachs Group boosted their price target on Netflix from $850.00 to $960.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 22nd. KeyCorp raised their price objective on Netflix from $1,000.00 to $1,070.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. Finally, Wedbush reiterated an "outperform" rating and set a $1,200.00 target price on shares of Netflix in a research note on Monday, May 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,093.39.

Netflix Stock Up 0.9%

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 has a market capitalization of $505.69 billion, a PE ratio of 59.99, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58. The company's fifty day simple moving average is $1,003.42 and its 200-day simple moving average is $942.62.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. During the same period last year, the firm posted $8.28 EPS. On average, analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Activity

In related news, Director Jay C. Hoag sold 32,515 shares of the firm's stock in a transaction dated 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 trade represents a 29.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jeffrey William Karbowski sold 160 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $1,000.00, for a total transaction of $160,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 132,868 shares of company stock valued at $138,483,256. Company insiders own 1.76% of the company's stock.

Institutional Trading of Netflix

A number of hedge funds have recently added to or reduced their stakes in the company. RMR Wealth Builders raised its stake in shares of Netflix by 4.8% during the 4th quarter. RMR Wealth Builders now owns 4,863 shares of the Internet television network's stock worth $4,335,000 after buying an additional 221 shares during the period. Sovereign Financial Group Inc. raised its position in Netflix by 34.8% during the fourth quarter. Sovereign Financial Group Inc. now owns 593 shares of the Internet television network's stock worth $529,000 after acquiring an additional 153 shares during the period. Board of the Pension Protection Fund purchased a new position in Netflix during the fourth quarter valued at $89,000. Acropolis Investment Management LLC grew its position in shares of Netflix by 5.7% in the fourth quarter. Acropolis Investment Management LLC now owns 297 shares of the Internet television network's stock valued at $265,000 after purchasing an additional 16 shares during the period. Finally, Apella Capital LLC grew its position in shares of Netflix by 1.6% in the fourth quarter. Apella Capital LLC now owns 1,071 shares of the Internet television network's stock valued at $955,000 after purchasing an additional 17 shares during the period. 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.