Traders Sell Netflix, Inc. (NFLX) on Strength (NFLX)
Traders sold shares of Netflix, Inc. (NASDAQ:NFLX) on strength during trading on Thursday. $266.82 million flowed into the stock on the tick-up and $371.27 million flowed out of the stock on the tick-down, for a money net flow of $104.45 million out of the stock. Of all stocks tracked, Netflix had the 0th highest net out-flow for the day. Netflix traded up $0.02 for the day and closed at $174.71
A number of analysts have recently commented on NFLX shares. Instinet reiterated a “buy” rating on shares of Netflix in a research report on Friday, June 2nd. Sanford C. Bernstein reiterated a “buy” rating and set a $178.00 target price on shares of Netflix in a research report on Wednesday, May 31st. MKM Partners reiterated a “buy” rating and set a $195.00 target price (up previously from $175.00) on shares of Netflix in a research report on Monday, May 29th. Canaccord Genuity reiterated a “buy” rating and set a $165.00 target price on shares of Netflix in a research report on Thursday, May 25th. Finally, Loop Capital reiterated a “buy” rating and set a $180.00 target price (up previously from $172.00) on shares of Netflix in a research report on Tuesday, May 23rd. Three 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 currently has a consensus rating of “Buy” and a consensus price target of $178.07.
The stock has a market capitalization of $75.44 billion, a PE ratio of 212.58 and a beta of 1.05. The stock’s 50-day moving average is $175.40 and its 200 day moving average is $156.71. Netflix also was the recipient of unusually large options trading activity on Wednesday. Investors purchased 58,939 call options on the company. This represents an increase of 141% compared to the typical daily volume of 24,487 call options.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by $0.01. Netflix had a net margin of 3.55% and a return on equity of 12.82%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the previous year, the business posted $0.09 earnings per share. The company’s revenue for the quarter was up 32.3% on a year-over-year basis. On average, analysts predict that Netflix, Inc. will post $1.19 earnings per share for the current fiscal year.
In related news, CEO Reed Hastings sold 115,577 shares of the firm’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $152.63, for a total value of $17,640,517.51. Following the completion of the transaction, the chief executive officer now owns 115,577 shares in the company, valued at approximately $17,640,517.51. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Richard N. Barton sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $154.31, for a total transaction of $308,620.00. Following the completion of the transaction, the director now owns 8,012 shares of the company’s stock, valued at approximately $1,236,331.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 346,435 shares of company stock worth $58,698,991. 4.90% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NFLX. Intl Fcstone Inc. purchased a new position in Netflix during the second quarter valued at about $278,000. Navellier & Associates Inc purchased a new position in Netflix during the second quarter valued at about $492,000. USA Financial Portformulas Corp purchased a new position in Netflix during the second quarter valued at about $6,229,000. Toronto Dominion Bank raised its position in Netflix by 25.7% in the second quarter. Toronto Dominion Bank now owns 146,001 shares of the Internet television network’s stock valued at $21,810,000 after buying an additional 29,867 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Netflix during the second quarter valued at about $445,000. Hedge funds and other institutional investors own 81.04% of the company’s stock.
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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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