Netflix (NASDAQ:NFLX) Stock Price Up 1.7% - Here's Why

Netflix, Inc. (NASDAQ:NFLX - Get Free Report) was up 1.7% on Tuesday . The company traded as high as $1,276.00 and last traded at $1,275.06. Approximately 886,681 shares traded hands during trading, a decline of 76% from the average daily volume of 3,737,543 shares. The stock had previously closed at $1,253.54.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NFLX shares. Wells Fargo & Company boosted their target price on shares of Netflix from $1,222.00 to $1,500.00 and gave the stock an "overweight" rating in a research note on Friday. Bank of America lifted their price target on shares of Netflix from $1,175.00 to $1,490.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Evercore ISI reiterated an "outperform" rating on shares of Netflix in a report on Thursday, May 15th. Canaccord Genuity Group lifted their price target on shares of Netflix from $1,200.00 to $1,380.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Finally, KeyCorp lifted their price target on shares of Netflix from $1,000.00 to $1,070.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Eleven research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $1,172.73.

Netflix Stock Performance

The company's fifty day simple moving average is $1,157.24 and its 200 day simple moving average is $1,014.42. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $544.35 billion, a P/E ratio of 60.45, a P/E/G ratio of 2.43 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings results 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 23.07% and a return on equity of 39.61%. The firm had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. During the same period last year, the firm earned $8.28 EPS. As a group, sell-side analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In related news, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total value of $2,397,393.72. Following the transaction, the chief financial officer now owns 3,691 shares in the company, valued at $3,402,068.52. This trade represents a 41.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jay C. Hoag sold 32,515 shares of the business's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the completion of the transaction, the director now owns 79,040 shares in the company, valued at $87,099,708.80. The trade was a 29.15% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 184,660 shares of company stock valued at $209,802,025. Insiders own 1.37% of the company's stock.

Hedge Funds Weigh In On Netflix

A number of hedge funds have recently modified their holdings of NFLX. Halbert Hargrove Global Advisors LLC increased its position in shares of Netflix by 100.0% in the first 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 during the period. Brown Shipley& Co Ltd bought a new stake in shares of Netflix during the 4th quarter valued at about $27,000. Transce3nd LLC bought a new stake in shares of Netflix during the 4th quarter valued at about $32,000. Copia Wealth Management bought a new stake in shares of Netflix during the 4th quarter valued at about $37,000. Finally, Flaharty Asset Management LLC bought a new stake in shares of Netflix during the 1st quarter valued at about $37,000. Hedge funds and other 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.