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

Netflix, Inc. (NASDAQ:NFLX)’s stock price was up 0.9% during trading on Thursday following a better than expected earnings announcement. The company traded as high as $619.80 and last traded at $618.92. Approximately 1,160,580 shares were traded during mid-day 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, beating the consensus estimate of $4.51 by $0.77. The business had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.46%. Netflix’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.88 EPS.

Wall Street Analyst Weigh In

NFLX has been the subject of several research analyst reports. KeyCorp boosted their price objective on Netflix from $580.00 to $705.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Pivotal Research upped their price target on Netflix from $765.00 to $800.00 and gave the stock a “buy” rating in a report on Friday. Barclays raised their price target on shares of Netflix from $475.00 to $550.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Redburn Atlantic increased their target price on shares of Netflix from $550.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Finally, Evercore ISI upped their price target on Netflix from $640.00 to $650.00 and gave the company an “outperform” rating in a report on Friday. One investment 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $630.58.

Insider Buying and Selling

In other Netflix news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total value of $148,454.67. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $17,575,476.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider David A. Hyman sold 267 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total value of $148,454.67. Following the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $17,575,476.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gregory K. Peters sold 5,352 shares of Netflix stock in a transaction on Monday, March 18th. The stock was sold at an average price of $625.00, for a total transaction of $3,345,000.00. Following the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,181,250. The disclosure for this sale can be found here. Insiders sold a total of 268,335 shares of company stock worth $151,619,811 over the last three months. 2.45% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Netflix

A number of large investors have recently made changes to their positions in NFLX. Indiana Trust & Investment Management CO lifted its position in shares of Netflix by 112.0% during 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 period. VitalStone Financial LLC lifted its position in Netflix by 933.3% during the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after purchasing an additional 56 shares during the period. Aspect Partners LLC acquired a new stake in Netflix during the fourth quarter worth about $32,000. Scarborough Advisors LLC bought a new position in Netflix in the 4th quarter valued at about $32,000. Finally, Authentikos Wealth Advisory LLC acquired a new position in shares of Netflix in the 3rd quarter valued at approximately $25,000. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

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

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.