Netflix (NASDAQ:NFLX) Shares Up 1.5% - Here's What Happened

Netflix, Inc. (NASDAQ:NFLX - Get Free Report) shares were up 1.5% during mid-day trading on Wednesday . The company traded as high as $949.55 and last traded at $942.26. Approximately 1,107,842 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 3,583,612 shares. The stock had previously closed at $928.38.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on NFLX shares. Deutsche Bank Aktiengesellschaft increased their target price on Netflix from $650.00 to $875.00 and gave the company a "hold" rating in a research note on Wednesday, January 22nd. Needham & Company LLC boosted their target price on shares of Netflix from $800.00 to $1,150.00 and gave the stock a "buy" rating in a research report on Wednesday, January 22nd. Arete Research upgraded shares of Netflix to a "hold" rating in a research note on Thursday, January 23rd. Wedbush reiterated an "outperform" rating and issued a $1,150.00 price target (up from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Finally, BMO Capital Markets restated an "outperform" rating and set a $1,175.00 price objective (up previously from $1,000.00) on shares of Netflix in a research note on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Netflix presently has a consensus rating of "Moderate Buy" and an average price target of $1,023.74.

Remove Ads

Netflix Stock Performance

The company's 50 day simple moving average is $972.68 and its 200 day simple moving average is $873.52. The stock has a market cap of $392.27 billion, a price-to-earnings ratio of 46.25, a PEG ratio of 2.12 and a beta of 1.38. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

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

Insider Activity

In related news, CAO Jeffrey William Karbowski sold 160 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $1,000.00, for a total value of $160,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider David A. Hyman sold 424 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $994.63, for a total transaction of $421,723.12. Following the sale, the insider now directly owns 31,610 shares of the company's stock, valued at approximately $31,440,254.30. This represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 280,676 shares of company stock worth $273,515,672 over the last 90 days. 1.76% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Netflix

Hedge funds have recently modified their holdings of the stock. West Michigan Advisors LLC increased its stake in Netflix by 1.3% in the 4th quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network's stock worth $692,000 after purchasing an additional 10 shares in the last quarter. Warwick Investment Management Inc. boosted its holdings in shares of Netflix by 3.5% in the fourth quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network's stock worth $266,000 after buying an additional 10 shares during the period. MRP Capital Investments LLC increased its position in shares of Netflix by 1.0% in the fourth quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network's stock worth $938,000 after acquiring an additional 10 shares in the last quarter. Bedell Frazier Investment Counselling LLC increased its position in shares of Netflix by 2.2% in the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock worth $412,000 after acquiring an additional 10 shares in the last quarter. Finally, Mission Creek Capital Partners Inc. raised its holdings in shares of Netflix by 0.3% during the fourth quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock valued at $3,410,000 after acquiring an additional 10 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.