Netflix (NASDAQ:NFLX) Trading 1.2% Higher on Better-Than-Expected Earnings

Shares of Netflix, Inc. (NASDAQ:NFLX) traded up 1.2% on Friday following a better than expected earnings announcement. The company traded as high as $984.70 and last traded at $973.03. 8,733,404 shares traded hands during mid-day trading, an increase of 133% from the average session volume of 3,742,602 shares. The stock had previously closed at $961.63.

The Internet television network reported $6.61 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. The business had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same period in the previous year, the business earned $8.28 earnings per share.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Seaport Res Ptn raised shares of Netflix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Morgan Stanley boosted their target price on Netflix from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Phillip Securities cut Netflix from a “hold” rating to a “moderate sell” rating in a report on Friday, January 24th. 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 report on Wednesday, January 22nd. Finally, The Goldman Sachs Group upped their price target on shares of Netflix from $850.00 to $960.00 and gave the company a “neutral” rating 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 company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,023.49.

Insider Buying and Selling at Netflix

In other Netflix news, Director Strive Masiyiwa sold 2,813 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total transaction of $2,835,138.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jeffrey William Karbowski sold 480 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $986.75, for a total transaction of $473,640.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 274,312 shares of company stock worth $267,919,297. 1.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Netflix

Hedge funds and other institutional investors have recently made changes to their positions in the company. West Michigan Advisors LLC increased its holdings 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 acquiring an additional 10 shares in the last quarter. Warwick Investment Management Inc. raised its holdings in shares of Netflix by 3.5% during the 4th quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network’s stock worth $266,000 after acquiring an additional 10 shares during the period. MRP Capital Investments LLC lifted its holdings in Netflix by 1.0% in the fourth quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network’s stock valued at $938,000 after acquiring an additional 10 shares during the last quarter. Bedell Frazier Investment Counselling LLC grew its holdings in shares of Netflix by 2.2% during the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network’s stock worth $412,000 after purchasing an additional 10 shares during the period. Finally, Mission Creek Capital Partners Inc. increased its position 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 last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Up 1.2 %

The business has a 50 day simple moving average of $955.57 and a 200 day simple moving average of $889.98. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The company has a market capitalization of $416.22 billion, a price-to-earnings ratio of 49.07, a PEG ratio of 2.12 and a beta of 1.55.

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.