Netflix (NASDAQ:NFLX) Trading Up 1.2% - Here's What Happened

Key Points

• Shares of Netflix, Inc. rose by 1.2% to last trade at $1,194.75 on a day with a trading volume decline of 75% from its average.
• Several analysts have rated Netflix with a consensus rating of “Moderate Buy” and a target price of $1,297.66, indicating positive market sentiment.
• The company's revenue for the last quarter was $11.08 billion, exceeding analysts' expectations, and reported $7.19 earnings per share, beating estimates by $0.12.

Shares of Netflix, Inc. (NASDAQ:NFLX - Get Free Report) shot up 1.2% on Friday . The stock traded as high as $1,208.06 and last traded at $1,194.75. 1,058,187 shares were traded during trading, a decline of 75% from the average session volume of 4,207,730 shares. The stock had previously closed at $1,180.37.

Analyst Ratings Changes

Several research analysts recently issued reports on NFLX shares. Moffett Nathanson reaffirmed 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. Jefferies Financial Group set a $1,500.00 price objective on shares of Netflix and gave the company a "buy" rating in a research report on Friday, July 18th. Piper Sandler boosted their target price on shares of Netflix from $1,400.00 to $1,500.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. The Goldman Sachs Group upped their price target on shares of Netflix from $1,000.00 to $1,140.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Finally, Seaport Res Ptn downgraded shares of Netflix from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 6th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,297.66.

Netflix Price Performance

The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market capitalization of $513.86 billion, a price-to-earnings ratio of 51.56, a price-to-earnings-growth ratio of 1.98 and a beta of 1.59. The business's 50 day simple moving average is $1,232.06 and its 200-day simple moving average is $1,091.12.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating the consensus estimate of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The business had revenue of $11.08 billion during the quarter, compared to analysts' expectations of $11.04 billion. During the same quarter last year, the business posted $4.88 earnings per share. The company's quarterly revenue was up 15.9% on a year-over-year basis. Research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Activity at Netflix

In other Netflix news, insider David A. Hyman sold 424 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $1,158.67, for a total value of $491,276.08. Following the sale, the insider owned 31,610 shares of the company's stock, valued at $36,625,558.70. The trade was a 1.32% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Theodore A. Sarandos sold 2,026 shares of the firm's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $1,160.62, for a total value of $2,351,416.12. Following the sale, the chief executive officer directly owned 15,168 shares of the company's stock, valued at $17,604,284.16. This represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 150,226 shares of company stock worth $183,849,784. Insiders own 1.37% of the company's stock.

Institutional Trading of Netflix

Several hedge funds have recently modified their holdings of the stock. Optima Capital LLC raised its holdings 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 during the period. Unified Investment Management lifted its position in shares of Netflix by 1.7% during the 2nd quarter. Unified Investment Management now owns 474 shares of the Internet television network's stock valued at $635,000 after buying an additional 8 shares during the last quarter. Plancorp LLC grew its stake in shares of Netflix by 0.6% during the 2nd quarter. Plancorp LLC now owns 1,278 shares of the Internet television network's stock worth $1,711,000 after acquiring an additional 8 shares during the period. Five Oceans Advisors increased its holdings 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 valued at $836,000 after acquiring an additional 8 shares during the period. 80.93% of the stock is owned by 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.

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