Netflix Inc. (NASDAQ:NFLX) saw an uptick in trading volume on Monday following a better than expected earnings announcement. 11,148,254 shares traded hands during trading, an increase of 17% from the previous session’s volume of 9,555,373 shares.The stock last traded at $99.93 and had previously closed at $101.47.
The Internet television network reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.06. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.28 billion. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The firm’s revenue was up 31.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.07 earnings per share.
A number of analysts have weighed in on NFLX shares. Royal Bank Of Canada reissued an “outperform” rating and set a $140.00 price objective on shares of Netflix in a report on Tuesday, June 28th. Jefferies Group reissued an “underperform” rating and set a $76.00 price objective (down previously from $80.00) on shares of Netflix in a report on Sunday, July 17th. Wedbush reissued an “underperform” rating and set a $50.00 price objective (up previously from $45.00) on shares of Netflix in a report on Sunday, July 17th. SunTrust Banks Inc. reissued a “hold” rating on shares of Netflix in a report on Sunday, July 17th. Finally, BTIG Research reissued a “buy” rating and set a $130.00 price objective (down previously from $150.00) on shares of Netflix in a report on Sunday, July 17th. Eight investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $109.91.
In other Netflix news, Director Jay C. Hoag acquired 600,000 shares of Netflix stock in a transaction that occurred on Monday, July 25th. The stock was purchased at an average cost of $86.43 per share, with a total value of $51,858,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Reed Hastings sold 116,431 shares of the stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $86.59, for a total value of $10,081,760.29. Following the completion of the sale, the chief executive officer now directly owns 116,431 shares of the company’s stock, valued at $10,081,760.29. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.
Large investors have recently made changes to their positions in the company. Fulton Bank N.A. increased its stake in shares of Netflix by 0.3% in the third quarter. Fulton Bank N.A. now owns 4,450 shares of the Internet television network’s stock valued at $439,000 after buying an additional 12 shares in the last quarter. Concorde Asset Management LLC increased its stake in Netflix by 0.5% in the second quarter. Concorde Asset Management LLC now owns 4,205 shares of the Internet television network’s stock worth $385,000 after buying an additional 20 shares during the period. Coconut Grove Bank increased its stake in Netflix by 1.7% in the second quarter. Coconut Grove Bank now owns 1,526 shares of the Internet television network’s stock worth $140,000 after buying an additional 26 shares during the period. Conning Inc. increased its stake in Netflix by 0.3% in the second quarter. Conning Inc. now owns 10,915 shares of the Internet television network’s stock worth $999,000 after buying an additional 30 shares during the period. Finally, Mycio Wealth Partners LLC increased its stake in Netflix by 1.5% in the second quarter. Mycio Wealth Partners LLC now owns 2,348 shares of the Internet television network’s stock worth $215,000 after buying an additional 35 shares during the period. 78.41% of the stock is owned by hedge funds and other institutional investors.
The firm has a 50 day moving average price of $98.99 and a 200-day moving average price of $96.28. The stock has a market capitalization of $42.79 billion, a P/E ratio of 311.88 and a beta of 1.14.
Netflix, Inc (Netflix) is a provider of Internet television network. The Company’s members can watch original series, documentaries and feature films in Internet-connected screen. The Company has three operating segments: Domestic streaming, International streaming and Domestic DVD. The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content.
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