Netflix (NASDAQ:NFLX) Stock Price Up 2.3%

Netflix, Inc. (NASDAQ:NFLX)’s stock price shot up 2.3% on Friday . The stock traded as high as $651.28 and last traded at $650.29. 913,380 shares were traded during trading, a decline of 78% from the average session volume of 4,219,437 shares. The stock had previously closed at $635.67.

Wall Street Analysts Forecast Growth

Several research firms have commented on NFLX. Needham & Company LLC reaffirmed a “buy” rating and set a $700.00 price objective on shares of Netflix in a research note on Friday, May 17th. BMO Capital Markets restated an “outperform” rating and set a $713.00 target price (up previously from $638.00) on shares of Netflix in a research report on Wednesday, April 17th. Sanford C. Bernstein increased their price target on Netflix from $490.00 to $600.00 and gave the stock a “market perform” rating in a report on Friday, April 19th. Benchmark upped their price objective on Netflix from $440.00 to $450.00 and gave the company a “sell” rating in a research report on Friday, May 17th. Finally, CICC Research started coverage on Netflix in a research report on Thursday, May 2nd. They set an “outperform” rating and a $650.00 target price for the company. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $630.53.

Netflix Price Performance

The stock has a 50 day moving average of $607.60 and a 200-day moving average of $549.72. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $278.75 billion, a PE ratio of 44.88, a price-to-earnings-growth ratio of 1.37 and a beta of 1.23.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. During the same period in the prior year, the company earned $2.88 earnings per share. The company’s revenue was up 14.8% on a year-over-year basis. Equities analysts predict that Netflix, Inc. will post 18.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Spencer Adam Neumann sold 564 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $613.08, for a total value of $345,777.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Spencer Adam Neumann sold 564 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $613.08, for a total value of $345,777.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anne M. Sweeney sold 3,029 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $580.00, for a total value of $1,756,820.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,039 shares of company stock valued at $46,401,083. 1.76% of the stock is owned by insiders.

Institutional Trading of Netflix

A number of hedge funds have recently added to or reduced their stakes in NFLX. Columbia Trust Co 01012016 boosted its position in Netflix by 15.3% during the fourth quarter. Columbia Trust Co 01012016 now owns 1,566 shares of the Internet television network’s stock worth $762,000 after purchasing an additional 208 shares in the last quarter. Crumly & Associates Inc. raised its position in Netflix by 4.1% during the fourth quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network’s stock worth $1,025,000 after acquiring an additional 83 shares during the period. Venture Visionary Partners LLC lifted its holdings in Netflix by 15.4% during the fourth quarter. Venture Visionary Partners LLC now owns 9,849 shares of the Internet television network’s stock valued at $4,795,000 after purchasing an additional 1,318 shares in the last quarter. Sandy Cove Advisors LLC grew its position in shares of Netflix by 10.6% in the fourth quarter. Sandy Cove Advisors LLC now owns 1,187 shares of the Internet television network’s stock valued at $578,000 after purchasing an additional 114 shares during the period. Finally, Malaga Cove Capital LLC raised its position in shares of Netflix by 25.4% during the 4th quarter. Malaga Cove Capital LLC now owns 1,562 shares of the Internet television network’s stock worth $761,000 after purchasing an additional 316 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

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.