Netflix (NASDAQ:NFLX) Stock Price Up 1.4% - Here's Why

Netflix, Inc. (NASDAQ:NFLX - Get Free Report)'s stock price shot up 1.4% during trading on Thursday . The company traded as high as $1,295.35 and last traded at $1,293.57. 591,401 shares changed hands during trading, a decline of 84% from the average session volume of 3,730,860 shares. The stock had previously closed at $1,275.25.

Analysts Set New Price Targets

A number of analysts recently issued reports on NFLX shares. Rosenblatt Securities boosted their price target on Netflix from $1,494.00 to $1,514.00 and gave the company a "buy" rating in a report on Monday, April 21st. Wells Fargo & Company lifted their target price on Netflix from $1,222.00 to $1,500.00 and gave the company an "overweight" rating in a research report on Friday, June 20th. KeyCorp increased their price target on Netflix from $1,000.00 to $1,070.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. Jefferies Financial Group raised their price target on Netflix from $1,200.00 to $1,400.00 and gave the company a "buy" rating in a research note on Tuesday, June 3rd. Finally, Morgan Stanley upped their price target on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. Eleven research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,172.73.

Netflix Stock Performance

The firm's fifty day simple moving average is $1,169.57 and its 200 day simple moving average is $1,018.04. The company has a market capitalization of $554.41 billion, a PE ratio of 61.65, a price-to-earnings-growth ratio of 2.47 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping the consensus estimate of $5.74 by $0.87. The business had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same quarter in the prior year, the firm posted $8.28 EPS. On average, research analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Transactions at Netflix

In related news, Director Jay C. Hoag sold 31,750 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the transaction, the director now directly owns 63,040 shares of the company's stock, valued at approximately $78,948,144. This trade represents a 33.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ann Mather sold 1,358 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $1,150.00, for a total value of $1,561,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 184,660 shares of company stock valued at $209,802,025 in the last ninety days. 1.37% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Netflix

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its stake in Netflix by 5.0% in the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock worth $4,804,000 after purchasing an additional 257 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in Netflix by 16.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock worth $912,000 after buying an additional 144 shares in the last quarter. FourThought Financial Partners LLC purchased a new position in Netflix during the fourth quarter worth approximately $1,025,000. Delta Financial Advisors LLC boosted its stake in Netflix by 4.0% during the fourth quarter. Delta Financial Advisors LLC now owns 391 shares of the Internet television network's stock worth $349,000 after buying an additional 15 shares during the last quarter. Finally, FFT Wealth Management LLC purchased a new stake in Netflix in the 4th quarter valued at $209,000. Institutional investors and hedge funds own 80.93% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.