Netflix (NASDAQ:NFLX) Sees Strong Trading Volume

Shares of Netflix, Inc. (NASDAQ:NFLXGet Rating) saw unusually-high trading volume on Thursday . Approximately 390,948 shares were traded during mid-day trading, a decline of 96% from the previous session’s volume of 9,538,910 shares.The stock last traded at $217.58 and had previously closed at $226.19.

NFLX has been the subject of several research reports. Wells Fargo & Company cut Netflix from an “overweight” rating to an “equal weight” rating and set a $300.00 price objective for the company. in a research report on Wednesday. StockNews.com began coverage on Netflix in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Rosenblatt Securities began coverage on Netflix in a research report on Tuesday. They issued a “neutral” rating and a $354.00 target price for the company. Stifel Nicolaus cut Netflix from a “buy” rating to a “hold” rating and reduced their target price for the stock from $460.00 to $300.00 in a research report on Wednesday. Finally, Macquarie cut Netflix from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $615.00 to $395.00 in a research report on Friday, January 21st. Three equities research analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $386.31.

The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.93. The stock has a market cap of $95.75 billion, a P/E ratio of 19.17, a PEG ratio of 1.26 and a beta of 0.97. The stock has a fifty day simple moving average of $360.29 and a 200-day simple moving average of $505.03.

Netflix (NASDAQ:NFLXGet Rating) last released its quarterly earnings data on Tuesday, April 19th. The Internet television network reported $3.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.90 by $0.63. Netflix had a return on equity of 35.34% and a net margin of 17.23%. The business had revenue of $7.87 billion for the quarter, compared to analysts’ expectations of $7.94 billion. During the same quarter in the previous year, the business posted $3.75 EPS. Netflix’s revenue for the quarter was up 9.8% on a year-over-year basis. Sell-side analysts anticipate that Netflix, Inc. will post 10.86 earnings per share for the current year.

In other Netflix news, CEO Reed Hastings acquired 46,900 shares of the business’s stock in a transaction dated Thursday, January 27th. The shares were acquired at an average price of $390.08 per share, for a total transaction of $18,294,752.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.68% of the company’s stock.

Several large investors have recently added to or reduced their stakes in NFLX. Kovitz Investment Group Partners LLC raised its position in Netflix by 4,459.0% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 18,783 shares of the Internet television network’s stock valued at $7,036,000 after buying an additional 18,371 shares during the last quarter. Allworth Financial LP raised its position in Netflix by 31.1% in the 1st quarter. Allworth Financial LP now owns 8,011 shares of the Internet television network’s stock valued at $3,001,000 after buying an additional 1,902 shares during the last quarter. Bank of The West raised its position in Netflix by 14.7% in the 1st quarter. Bank of The West now owns 12,402 shares of the Internet television network’s stock valued at $4,645,000 after buying an additional 1,591 shares during the last quarter. Truist Financial Corp raised its position in Netflix by 35.4% in the 1st quarter. Truist Financial Corp now owns 98,862 shares of the Internet television network’s stock valued at $37,032,000 after buying an additional 25,874 shares during the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its position in Netflix by 9.5% in the 1st quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,838 shares of the Internet television network’s stock valued at $688,000 after buying an additional 159 shares during the last quarter. Institutional investors and hedge funds own 81.37% of the company’s stock.

About Netflix (NASDAQ:NFLX)

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.

Recommended Stories

Receive News & Ratings for Netflix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix and related companies with MarketBeat.com's FREE daily email newsletter.