The Netflix Inc. (NFLX) Hits New 52-Week High Following Strong Earnings

The Netflix Inc. (NFLX) Hits New 52-Week High Following Strong Earnings

Netflix Inc. (NASDAQ:NFLX) shares hit a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $139.73 and last traded at $139.79, with a volume of 16,318,315 shares. The stock had previously closed at $133.26.

The Internet television network reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. Netflix had a return on equity of 6.31% and a net margin of 1.99%. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the previous year, the company posted $0.10 EPS. The business’s revenue was up 35.9% on a year-over-year basis.

A number of equities research analysts have commented on the company. Robert W. Baird reiterated a “neutral” rating and issued a $138.00 price target (up previously from $120.00) on shares of Netflix in a research report on Thursday. Credit Suisse Group AG reiterated a “neutral” rating and issued a $143.00 price target (up previously from $133.00) on shares of Netflix in a research report on Thursday. BMO Capital Markets upped their price target on Netflix to $150.00 and gave the company a “market perform” rating in a research report on Thursday. Macquarie upgraded Netflix from an “underperform” rating to a “neutral” rating in a research report on Thursday. Finally, Jefferies Group upped their price target on Netflix from $80.00 to $95.00 and gave the company an “underperform” rating in a research report on Thursday. Six investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-nine have issued a buy rating to the stock. Netflix presently has an average rating of “Hold” and an average price target of $126.51.

In other news, CFO David B. Wells sold 500 shares of the company’s stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $126.29, for a total transaction of $63,145.00. Following the sale, the chief financial officer now directly owns 500 shares in the company, valued at approximately $63,145. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard N. Barton sold 2,800 shares of the company’s stock in a transaction dated Tuesday, October 25th. The shares were sold at an average price of $126.97, for a total transaction of $355,516.00. Following the sale, the director now owns 16,262 shares in the company, valued at $2,064,786.14. The disclosure for this sale can be found here. Insiders have sold a total of 295,924 shares of company stock worth $37,223,407 over the last 90 days. Corporate insiders own 4.90% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Cornerstone Advisors Inc. raised its stake in Netflix by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,118 shares of the Internet television network’s stock worth $102,000 after buying an additional 228 shares during the period. Quadrant Capital Group LLC raised its stake in Netflix by 15.1% in the second quarter. Quadrant Capital Group LLC now owns 1,475 shares of the Internet television network’s stock worth $126,000 after buying an additional 194 shares during the period. Integrated Wealth Management raised its stake in Netflix by 12.4% in the second quarter. Integrated Wealth Management now owns 1,804 shares of the Internet television network’s stock worth $165,000 after buying an additional 199 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in Netflix during the third quarter worth $173,000. Finally, Krilogy Financial LLC raised its stake in Netflix by 12.9% in the second quarter. Krilogy Financial LLC now owns 1,921 shares of the Internet television network’s stock worth $176,000 after buying an additional 220 shares during the period. 79.44% of the stock is currently owned by institutional investors.

The firm has a 50 day moving average price of $126.75 and a 200-day moving average price of $109.11. The stock has a market cap of $59.40 billion, a P/E ratio of 374.08 and a beta of 1.67.

Netflix Company Profile

Netflix Inc is an Internet television network with over 86 million members in over 190 countries enjoying more than 125 million hours of television (TV) shows and movies per day, including original series, documentaries and feature films. Members can watch as much as they want, anytime, anywhere, on nearly any Internet-connected screen.

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