Netflix (NASDAQ:NFLX) Trading Up 0.9% Following Better-Than-Expected Earnings

Shares of Netflix, Inc. (NASDAQ:NFLX) were up 0.9% during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $974.50 and last traded at $970.00. Approximately 1,745,417 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 3,713,222 shares. The stock had previously closed at $961.63.

The Internet television network reported $6.61 earnings per share for the quarter, beating analysts’ consensus estimates of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same period last year, the firm posted $8.28 EPS.

Wall Street Analysts Forecast Growth

Several research analysts have commented on NFLX shares. Pivotal Research restated a “buy” rating on shares of Netflix in a report on Thursday. Oppenheimer reissued an “outperform” rating on shares of Netflix in a research report on Friday. Wedbush reaffirmed an “outperform” rating and issued a $1,150.00 target price on shares of Netflix in a report on Friday, April 11th. Seaport Res Ptn raised shares of Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Finally, Morgan Stanley upped their price objective on Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and an average price target of $1,023.49.

Insider Activity at Netflix

In other news, Director Jay C. Hoag sold 617 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total value of $604,481.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 25,360 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total value of $23,360,364.00. Following the transaction, the chairman now directly owns 394 shares in the company, valued at approximately $362,933.10. This represents a 98.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 274,312 shares of company stock valued at $267,919,297. Insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NFLX. Wolf Group Capital Advisors bought a new position in shares of Netflix during the 1st quarter worth $336,000. Cornerstone Wealth Management LLC raised its holdings in shares of Netflix by 5.8% in the 1st quarter. Cornerstone Wealth Management LLC now owns 2,938 shares of the Internet television network’s stock valued at $2,740,000 after purchasing an additional 160 shares in the last quarter. Shepherd Financial Partners LLC lifted its position in shares of Netflix by 4.5% in the 1st quarter. Shepherd Financial Partners LLC now owns 305 shares of the Internet television network’s stock worth $284,000 after purchasing an additional 13 shares during the period. GSB Wealth Management LLC boosted its stake in shares of Netflix by 6.9% during the first quarter. GSB Wealth Management LLC now owns 277 shares of the Internet television network’s stock valued at $258,000 after purchasing an additional 18 shares in the last quarter. Finally, Colorado Capital Management Inc. increased its holdings in Netflix by 6.7% during the first quarter. Colorado Capital Management Inc. now owns 288 shares of the Internet television network’s stock valued at $269,000 after buying an additional 18 shares during the period. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Up 1.2 %

The business’s 50 day moving average is $954.87 and its 200 day moving average is $891.82. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market cap of $416.22 billion, a P/E ratio of 49.07, a P/E/G 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.