Traders Buy Shares of Netflix, Inc. (NFLX) on Weakness
Traders purchased shares of Netflix, Inc. (NASDAQ:NFLX) on weakness during trading on Monday. $303.41 million flowed into the stock on the tick-up and $263.47 million flowed out of the stock on the tick-down, for a money net flow of $39.94 million into the stock. Of all equities tracked, Netflix had the 19th highest net in-flow for the day. Netflix traded down ($1.17) for the day and closed at $198.37
A number of research firms have recently issued reports on NFLX. Raymond James Financial, Inc. reiterated an “outperform” rating and issued a $205.00 target price (up previously from $165.00) on shares of Netflix in a research note on Tuesday, July 18th. Stifel Nicolaus increased their target price on Netflix from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, October 12th. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $225.00 target price (up previously from $210.00) on shares of Netflix in a research note on Friday, October 13th. Vetr upgraded Netflix from a “hold” rating to a “buy” rating and set a $210.19 target price for the company in a research note on Thursday, October 19th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $190.00 target price on shares of Netflix in a research note on Thursday, July 13th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirty-three have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $207.20.
The company has a 50-day moving average price of $189.64 and a 200-day moving average price of $169.99. The stock has a market cap of $85.78 billion, a P/E ratio of 198.17 and a beta of 1.09.
Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Monday, October 16th. The Internet television network reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.97 billion. Netflix had a net margin of 4.04% and a return on equity of 14.56%. The firm’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.12 earnings per share. On average, analysts expect that Netflix, Inc. will post $1.25 earnings per share for the current year.
In other Netflix news, insider Jonathan Friedland sold 3,622 shares of Netflix stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $194.89, for a total transaction of $705,891.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Reed Hastings sold 93,380 shares of Netflix stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $166.07, for a total value of $15,507,616.60. Following the sale, the chief executive officer now directly owns 93,380 shares in the company, valued at $15,507,616.60. The disclosure for this sale can be found here. Insiders have sold 276,409 shares of company stock worth $50,072,727 over the last ninety days. Company insiders own 4.90% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Almanack Investment Partners LLC. acquired a new stake in Netflix during the second quarter valued at approximately $101,000. TD Capital Management LLC acquired a new stake in Netflix during the second quarter valued at approximately $105,000. Appropriate Balance Financial Services Inc. boosted its holdings in Netflix by 5.6% during the second quarter. Appropriate Balance Financial Services Inc. now owns 702 shares of the Internet television network’s stock valued at $4,701,000 after purchasing an additional 37 shares in the last quarter. Harfst & Associates Inc. acquired a new stake in Netflix during the first quarter valued at approximately $109,000. Finally, Aviance Capital Management LLC acquired a new stake in Netflix during the second quarter valued at approximately $137,000. 80.74% of the stock is currently owned by institutional investors.
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Netflix Company Profile
Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.
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