Traders Sell Netflix Inc. (NFLX) on Strength (NFLX)
Investors sold shares of Netflix Inc. (NASDAQ:NFLX) on strength during trading hours on Wednesday. $143.70 million flowed into the stock on the tick-up and $172.52 million flowed out of the stock on the tick-down, for a money net flow of $28.82 million out of the stock. Of all equities tracked, Netflix had the 0th highest net out-flow for the day. Netflix traded up $0.15 for the day and closed at $97.45
NFLX has been the subject of several recent research reports. MKM Partners set a $145.00 target price on shares of Netflix and gave the company a “buy” rating in a report on Thursday, May 26th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Netflix in a report on Tuesday, May 24th. Vetr lowered shares of Netflix from a “strong-buy” rating to a “buy” rating and set a $106.10 target price for the company. in a report on Monday, May 23rd. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Netflix in a report on Sunday, May 22nd. Finally, Morgan Stanley reissued a “buy” rating and issued a $125.00 price target on shares of Netflix in a research note on Monday, June 6th. Six analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-six have given a buy rating to the company’s stock. Netflix presently has an average rating of “Hold” and a consensus price target of $111.34.
The firm has a market cap of $41.78 billion and a PE ratio of 304.53. The stock has a 50 day moving average price of $94.18 and a 200 day moving average price of $95.79.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Monday, July 18th. The Internet television network reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.07. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.11 billion. The company’s revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.06 EPS. On average, equities research analysts predict that Netflix Inc. will post $0.29 earnings per share for the current year.
In other news, Director Jay C. Hoag acquired 600,000 shares of the company’s stock in a transaction dated Monday, July 25th. The shares were bought at an average price of $86.43 per share, with a total value of $51,858,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Reed Hastings sold 102,340 shares of the business’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $95.21, for a total value of $9,743,791.40. Following the completion of the sale, the chief executive officer now directly owns 102,340 shares in the company, valued at approximately $9,743,791.40. The disclosure for this sale can be found here.
Several hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. increased its stake in Netflix by 11.6% in the fourth quarter. Ameriprise Financial Inc. now owns 596,407 shares of the Internet television network’s stock worth $68,245,000 after buying an additional 61,924 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in Netflix by 2.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,104,516 shares of the Internet television network’s stock worth $126,335,000 after buying an additional 28,933 shares in the last quarter. Finally, I.G. Investment Management LTD. increased its stake in Netflix by 6.2% in the fourth quarter. I.G. Investment Management LTD. now owns 41,118 shares of the Internet television network’s stock worth $4,703,000 after buying an additional 2,394 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.