Netflix (NASDAQ:NFLX) Stock Price Up 1.6% - Here's What Happened

Key Points

• Netflix's stock price increased by 1.6% to $1,166.33, although trading volume was significantly down by 78% compared to its average.
• Analysts have raised their price targets for Netflix, with estimates reaching as high as $1,500.00, reflecting an overall positive outlook as the stock receives a rating of "Moderate Buy."
• Recent earnings reports showed Netflix beating consensus estimates, reporting $7.19 EPS and a revenue of $11.08 billion for the quarter, marking a 15.9% year-over-year revenue increase.

Netflix, Inc. (NASDAQ:NFLX - Get Free Report) shares were up 1.6% during mid-day trading on Wednesday . The stock traded as high as $1,166.70 and last traded at $1,166.33. Approximately 941,753 shares traded hands during trading, a decline of 78% from the average daily volume of 4,223,266 shares. The stock had previously closed at $1,147.87.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NFLX shares. Sanford C. Bernstein raised their price target on Netflix from $1,200.00 to $1,390.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Wedbush reiterated an "outperform" rating and set a $1,500.00 price objective (up previously from $1,400.00) on shares of Netflix in a research note on Monday, July 14th. Bank of America increased their target price on Netflix from $1,175.00 to $1,490.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. KeyCorp boosted their price target on Netflix from $1,070.00 to $1,390.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Finally, Wall Street Zen raised Netflix from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $1,297.66.

Netflix Price Performance

The firm has a fifty day simple moving average of $1,232.75 and a 200 day simple moving average of $1,088.27. The company has a market capitalization of $500.17 billion, a PE ratio of 50.15, a P/E/G ratio of 1.97 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%. Netflix's quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the business posted $4.88 EPS. Equities analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Buying and Selling at Netflix

In other Netflix news, Director Reed Hastings sold 22,765 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $1,162.46, for a total transaction of $26,463,401.90. Following the sale, the director owned 394 shares of the company's stock, valued at approximately $458,009.24. This trade represents a 98.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Strive Masiyiwa sold 290 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $1,336.54, for a total value of $387,596.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,185 shares of company stock worth $179,153,852. 1.37% of the stock is currently owned by company insiders.

Institutional Trading of Netflix

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Optima Capital LLC boosted its position in shares of Netflix by 3.5% in the 2nd quarter. Optima Capital LLC now owns 239 shares of the Internet television network's stock worth $320,000 after purchasing an additional 8 shares in the last quarter. Unified Investment Management boosted its position in shares of Netflix by 1.7% in the 2nd quarter. Unified Investment Management now owns 474 shares of the Internet television network's stock worth $635,000 after purchasing an additional 8 shares in the last quarter. Plancorp LLC boosted its position in shares of Netflix by 0.6% in the 2nd quarter. Plancorp LLC now owns 1,278 shares of the Internet television network's stock worth $1,711,000 after purchasing an additional 8 shares in the last quarter. Five Oceans Advisors raised its stake in Netflix by 1.1% in the 2nd quarter. Five Oceans Advisors now owns 751 shares of the Internet television network's stock worth $1,006,000 after acquiring an additional 8 shares during the last quarter. Finally, Old Port Advisors raised its stake in Netflix by 1.3% in the 2nd quarter. Old Port Advisors now owns 624 shares of the Internet television network's stock worth $836,000 after acquiring an additional 8 shares during the last quarter. Institutional investors 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.

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