Investors Buy Shares of Netflix Inc. (NFLX) on Weakness
Traders purchased shares of Netflix Inc. (NASDAQ:NFLX) on weakness during trading hours on Wednesday. $151.74 million flowed into the stock on the tick-up and $131.11 million flowed out of the stock on the tick-down, for a money net flow of $20.63 million into the stock. Of all companies tracked, Netflix had the 16th highest net in-flow for the day. Netflix traded down ($0.06) for the day and closed at $93.93
Several research firms have issued reports on NFLX. Vetr lowered Netflix from a “strong-buy” rating to a “buy” rating and set a $100.98 price target for the company. in a report on Tuesday, August 2nd. BMO Capital Markets reaffirmed a “market perform” rating and issued a $85.00 price objective on shares of Netflix in a research note on Thursday, July 28th. Evercore ISI started coverage on Netflix in a research note on Tuesday, July 26th. They issued a “sell” rating and a $69.00 price objective for the company. Jefferies Group reaffirmed a “sell” rating and issued a $76.00 price objective on shares of Netflix in a research note on Monday, July 25th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $122.00 price objective on shares of Netflix in a research note on Friday, July 22nd. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $112.41.
The stock’s 50 day moving average price is $92.68 and its 200 day moving average price is $95.14. The stock has a market cap of $40.27 billion and a P/E ratio of 293.53.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings results 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 company earned $2.11 billion during the quarter, compared to analyst estimates of $2.11 billion. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.06 EPS. On average, equities research analysts expect that Netflix Inc. will post $0.28 EPS for the current year.
In other Netflix news, Director Richard N. Barton sold 1,400 shares of Netflix stock in a transaction on Thursday, May 12th. The shares were sold at an average price of $91.29, for a total value of $127,806.00. Following the transaction, the director now owns 15,562 shares in the company, valued at approximately $1,420,654.98. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jay C. Hoag purchased 600,000 shares of the firm’s stock in a transaction on Monday, July 25th. The stock was bought at an average price of $86.43 per share, for a total transaction of $51,858,000.00. The disclosure for this purchase can be found here.
Several institutional investors have modified their holdings of NFLX. Airain ltd increased its position in shares of Netflix by 379.2% in the fourth quarter. Airain ltd now owns 61,253 shares of the Internet television network’s stock worth $7,006,000 after buying an additional 48,470 shares in the last quarter. Advisors Asset Management Inc. increased its position 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 worth $3,146,000 after buying an additional 25,402 shares in the last quarter. US Bancorp DE increased its position in shares of Netflix by 15.4% in the fourth quarter. US Bancorp DE now owns 31,361 shares of the Internet television network’s stock worth $3,588,000 after buying an additional 4,196 shares in the last quarter. Redwood Investments LLC acquired a new position in shares of Netflix during the fourth quarter worth approximately $3,588,000. Finally, Calvert Investment Management Inc. increased its position in shares of Netflix by 32.7% in the fourth quarter. Calvert Investment Management Inc. now owns 21,425 shares of the Internet television network’s stock worth $2,451,000 after buying an additional 5,276 shares in the last quarter.
Netflix, Inc (Netflix) is a provider of Internet television network. The Company’s members can watch original series, documentaries and feature films in Internet-connected screen. The Company has three operating segments: Domestic streaming, International streaming and Domestic DVD. The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content.
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