Netflix (NASDAQ:NFLX) reached a new 52-week high and low during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as low as $337.89 and last traded at $337.57, with a volume of 23067764 shares trading hands. The stock had previously closed at $307.78.
The Internet television network reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.01. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.69 billion. Netflix had a net margin of 4.78% and a return on equity of 17.20%. The company’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 EPS.
A number of brokerages have commented on NFLX. Aegis restated a “hold” rating and issued a $230.00 target price on shares of Netflix in a research note on Monday. Robert W. Baird upped their target price on shares of Netflix from $280.00 to $300.00 and gave the stock a “neutral” rating in a research note on Tuesday. Credit Suisse Group upped their target price on shares of Netflix from $286.00 to $330.00 and gave the stock a “neutral” rating in a research note on Tuesday. Monness Crespi & Hardt restated a “buy” rating and issued a $350.00 target price (up from $300.00) on shares of Netflix in a research note on Wednesday, April 11th. Finally, Sanford C. Bernstein upped their target price on shares of Netflix from $340.00 to $372.00 and gave the stock an “outperform” rating in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Netflix presently has an average rating of “Buy” and a consensus price target of $293.22.
In other Netflix news, insider Gregory K. Peters sold 9,618 shares of the company’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $325.00, for a total transaction of $3,125,850.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard N. Barton sold 700 shares of the company’s stock in a transaction that occurred on Thursday, April 5th. The shares were sold at an average price of $283.39, for a total transaction of $198,373.00. Following the transaction, the director now owns 7,393 shares in the company, valued at approximately $2,095,102.27. The disclosure for this sale can be found here. Insiders have sold 442,200 shares of company stock valued at $119,779,880 in the last three months. 4.90% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of NFLX. Cambridge Investment Research Advisors Inc. increased its stake in shares of Netflix by 4.1% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 46,013 shares of the Internet television network’s stock worth $8,833,000 after acquiring an additional 1,801 shares during the period. Navellier & Associates Inc increased its stake in shares of Netflix by 8.4% in the fourth quarter. Navellier & Associates Inc now owns 3,991 shares of the Internet television network’s stock worth $766,000 after acquiring an additional 309 shares during the period. Assetmark Inc. increased its stake in shares of Netflix by 1,148.5% in the fourth quarter. Assetmark Inc. now owns 14,395 shares of the Internet television network’s stock worth $2,763,000 after acquiring an additional 13,242 shares during the period. Maryland Capital Management acquired a new stake in shares of Netflix in the fourth quarter worth $249,000. Finally, Pittenger & Anderson Inc. increased its stake in shares of Netflix by 14.3% in the fourth quarter. Pittenger & Anderson Inc. now owns 12,480 shares of the Internet television network’s stock worth $2,396,000 after acquiring an additional 1,565 shares during the period. Institutional investors and hedge funds own 81.65% of the company’s stock.
The company has a market capitalization of $135,240.03, a price-to-earnings ratio of 270.45, a price-to-earnings-growth ratio of 4.27 and a beta of 0.99. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.81.
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Netflix Company Profile
Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.
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