Netflix (NASDAQ:NFLX) Trading 3.8% Higher - Here's What Happened

Shares of Netflix, Inc. (NASDAQ:NFLX - Get Free Report) shot up 3.8% on Tuesday . The stock traded as high as $922.42 and last traded at $900.48. 2,002,440 shares were traded during trading, a decline of 56% from the average session volume of 4,597,084 shares. The stock had previously closed at $867.83.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NFLX shares. Guggenheim restated a "buy" rating and issued a $1,100.00 price target on shares of Netflix in a report on Thursday, April 3rd. Seaport Res Ptn raised shares of Netflix from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 15th. Barclays raised shares of Netflix from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $715.00 to $900.00 in a research report on Wednesday, January 22nd. BMO Capital Markets reaffirmed an "outperform" rating and issued a $1,175.00 price objective (up from $1,000.00) on shares of Netflix in a research report on Wednesday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Netflix from $650.00 to $875.00 and gave the stock a "hold" rating in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $1,017.31.

Netflix Price Performance

The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $392.80 billion, a P/E ratio of 46.31, a P/E/G ratio of 2.12 and a beta of 1.55. The company has a 50 day moving average of $960.09 and a 200-day moving average of $884.26.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same period in the prior year, the company posted $2.11 earnings per share. Netflix's revenue was up 16.0% compared to the same quarter last year. On average, sell-side analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Activity

In related news, Director Strive Masiyiwa sold 2,813 shares of the business's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $1,007.87, for a total value of $2,835,138.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory K. Peters sold 102,228 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the sale, the chief executive officer now owns 12,950 shares in the company, valued at $12,700,583. This represents a 88.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 274,312 shares of company stock worth $267,919,297. Corporate insiders own 1.76% of the company's stock.

Institutional Investors Weigh In On Netflix

Hedge funds have recently made changes to their positions in the stock. Pathway Financial Advisers LLC grew its stake in shares of Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock worth $27,000 after buying an additional 14 shares during the last quarter. Brown Shipley& Co Ltd acquired a new position in Netflix in the 4th quarter worth about $27,000. Transce3nd LLC bought a new position in Netflix in the fourth quarter valued at about $32,000. Newton One Investments LLC acquired a new stake in shares of Netflix during the fourth quarter valued at about $34,000. Finally, Pineridge Advisors LLC grew its holdings in shares of Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network's stock worth $37,000 after purchasing an additional 40 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.