Traders Buy Netflix Inc. (NFLX) on Weakness
Traders purchased shares of Netflix Inc. (NASDAQ:NFLX) on weakness during trading hours on Friday. $221.86 million flowed into the stock on the tick-up and $124.92 million flowed out of the stock on the tick-down, for a money net flow of $96.94 million into the stock. Of all stocks tracked, Netflix had the 8th highest net in-flow for the day. Netflix traded down ($0.40) for the day and closed at $91.25
Several brokerages have recently issued reports on NFLX. Citigroup Inc. reissued a “hold” rating and issued a $116.00 target price (down previously from $121.00) on shares of Netflix in a research report on Sunday, April 3rd. SunTrust Banks Inc. reissued a “hold” rating and issued a $115.00 target price on shares of Netflix in a research report on Saturday, April 9th. Morgan Stanley reissued a “buy” rating on shares of Netflix in a research report on Saturday, April 9th. FBR & Co reissued a “hold” rating on shares of Netflix in a research report on Sunday, April 17th. Finally, Cantor Fitzgerald reissued a “buy” rating on shares of Netflix in a research report on Sunday, May 22nd. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $112.45.
The firm has a 50-day moving average price of $92.57 and a 200 day moving average price of $95.85. The stock has a market capitalization of $39.12 billion and a price-to-earnings ratio of 285.16.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Monday, July 18th. The Internet television network reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.07. The firm earned $2.11 billion during the quarter, compared to analyst estimates of $2.11 billion. Netflix’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.06 earnings per share. Analysts expect that Netflix Inc. will post $0.28 EPS for the current year.
In related news, Director Jay C. Hoag purchased 600,000 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The shares were purchased at an average cost of $86.43 per share, for a total transaction of $51,858,000.00. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Richard N. Barton sold 700 shares of Netflix stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $92.92, for a total transaction of $65,044.00. Following the sale, the director now owns 15,177 shares in the company, valued at $1,410,246.84. The disclosure for this sale can be found here.
A number of large investors recently made changes to their positions in the company. Advisors Asset Management Inc. raised its stake in shares of Netflix by 1,209.6% in the fourth quarter. Advisors Asset Management Inc. now owns 27,502 shares of the Internet television network’s stock valued at $3,146,000 after buying an additional 25,402 shares in the last quarter. Cibc World Markets Corp raised its stake in shares of Netflix by 2.3% in the fourth quarter. Cibc World Markets Corp now owns 270,439 shares of the Internet television network’s stock valued at $30,933,000 after buying an additional 5,961 shares in the last quarter. Atlanta Capital Group raised its stake in shares of Netflix by 9.7% in the fourth quarter. Atlanta Capital Group now owns 24,687 shares of the Internet television network’s stock valued at $2,824,000 after buying an additional 2,175 shares in the last quarter. Suntrust Banks Inc. raised its stake in shares of Netflix by 305.3% in the fourth quarter. Suntrust Banks Inc. now owns 10,271 shares of the Internet television network’s stock valued at $1,174,000 after buying an additional 7,737 shares in the last quarter. Finally, UBS Oconnor LLC bought a new stake in shares of Netflix during the fourth quarter valued at approximately $4,196,000.
Netflix, Inc is a provider of Internet television network. The Company has over 57 million streaming members in over 50 countries. Its members can watch more than two billion hours of television (TV) shows and movies per month, including original series, documentaries and feature films on Internet-connected screen.
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