Investors Buy Shares of Netflix, Inc. (NFLX) on Weakness
Investors bought shares of Netflix, Inc. (NASDAQ:NFLX) on weakness during trading on Thursday. $285.69 million flowed into the stock on the tick-up and $170.08 million flowed out of the stock on the tick-down, for a money net flow of $115.61 million into the stock. Of all companies tracked, Netflix had the 5th highest net in-flow for the day. Netflix traded down ($1.01) for the day and closed at $182.63
A number of research analysts recently weighed in on the stock. BMO Capital Markets reiterated a “market perform” rating and issued a $180.00 price objective (up from $150.00) on shares of Netflix in a research note on Tuesday, July 18th. Needham & Company LLC reiterated a “hold” rating on shares of Netflix in a research note on Tuesday, July 18th. Bank of America Corporation reiterated a “buy” rating and issued a $199.00 price objective (up from $184.00) on shares of Netflix in a research note on Tuesday, July 18th. Vetr upgraded shares of Netflix from a “sell” rating to a “hold” rating and set a $165.09 price objective for the company in a research note on Wednesday, August 16th. Finally, Cantor Fitzgerald lifted their price objective on shares of Netflix from $165.00 to $190.00 and gave the company an “overweight” rating in a research note on Tuesday, June 6th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-seven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $178.70.
The firm’s 50-day moving average is $175.15 and its 200-day moving average is $159.15. The company has a market capitalization of $78.73 billion, a P/E ratio of 221.84 and a beta of 1.05.
Netflix (NASDAQ:NFLX) last issued its earnings results on Monday, July 17th. The Internet television network reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.01). The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.76 billion. Netflix had a net margin of 3.55% and a return on equity of 12.82%. Netflix’s quarterly revenue was up 32.3% on a year-over-year basis. During the same quarter last year, the company earned $0.09 earnings per share. Equities analysts predict that Netflix, Inc. will post $1.19 EPS for the current fiscal year.
In other news, Director Richard N. Barton sold 1,000 shares of the stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $156.62, for a total transaction of $156,620.00. Following the sale, the director now owns 8,012 shares of the company’s stock, valued at $1,254,839.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Reed Hastings sold 115,577 shares of the stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $152.63, for a total transaction of $17,640,517.51. Following the sale, the chief executive officer now directly owns 115,577 shares in the company, valued at approximately $17,640,517.51. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 349,435 shares of company stock valued at $59,221,491. 4.90% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of NFLX. Almanack Investment Partners LLC. acquired a new stake in Netflix in the second quarter valued at approximately $101,000. TD Capital Management LLC acquired a new stake in Netflix during the second quarter worth approximately $105,000. SRS Capital Advisors Inc. raised its holdings in Netflix by 3,361.9% during the first quarter. SRS Capital Advisors Inc. now owns 727 shares of the Internet television network’s stock worth $107,000 after purchasing an additional 706 shares in the last quarter. Harfst & Associates Inc. acquired a new stake in Netflix during the first quarter worth approximately $109,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its holdings in Netflix by 24.2% during the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 770 shares of the Internet television network’s stock worth $114,000 after purchasing an additional 150 shares in the last quarter. 81.05% of the stock is currently owned by hedge funds and other institutional investors.
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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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