Netflix (NASDAQ:NFLX) Stock Price Up 0.9% Following Earnings Beat

Netflix, Inc. (NASDAQ:NFLX)’s stock price rose 0.9% during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $619.80 and last traded at $618.92. Approximately 1,160,580 shares were traded during trading, a decline of 72% from the average daily volume of 4,198,756 shares. The stock had previously closed at $613.69.

The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.46%. The company had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. During the same period last year, the company earned $2.88 EPS. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year.

Analyst Ratings Changes

Several equities research analysts have issued reports on NFLX shares. DZ Bank raised shares of Netflix from a “hold” rating to a “buy” rating and set a $600.00 price target on the stock in a research note on Thursday, January 25th. Morgan Stanley increased their price objective on shares of Netflix from $600.00 to $700.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Barclays raised their price target on shares of Netflix from $475.00 to $550.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Macquarie raised their price target on shares of Netflix from $595.00 to $685.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Benchmark restated a “sell” rating and issued a $440.00 price target on shares of Netflix in a report on Thursday. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and an average target price of $630.58.

Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 20,566 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the sale, the chairman now owns 28 shares of the company’s stock, valued at $17,091.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Jay C. Hoag sold 47,000 shares of the company’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $550.50, for a total value of $25,873,500.00. Following the completion of the sale, the director now owns 431,034 shares of the company’s stock, valued at $237,284,217. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 20,566 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the completion of the sale, the chairman now directly owns 28 shares of the company’s stock, valued at $17,091.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 268,335 shares of company stock worth $151,619,811. Insiders own 2.45% of the company’s stock.

Institutional Investors Weigh In On Netflix

Institutional investors and hedge funds have recently bought and sold shares of the business. Indiana Trust & Investment Management CO lifted its holdings in Netflix by 112.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 28 shares during the last quarter. VitalStone Financial LLC raised its holdings in Netflix by 933.3% during the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after buying an additional 56 shares during the period. Aspect Partners LLC acquired a new stake in Netflix during the 4th quarter worth about $32,000. Scarborough Advisors LLC acquired a new stake in Netflix during the 4th quarter worth about $32,000. Finally, Authentikos Wealth Advisory LLC acquired a new stake in Netflix during the 3rd quarter worth about $25,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Trading Down 9.1 %

The company has a fifty day simple moving average of $605.65 and a 200-day simple moving average of $513.07. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.69. The stock has a market cap of $240.20 billion, a price-to-earnings ratio of 38.52, a P/E/G ratio of 1.64 and a beta of 1.22.

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.