Netflix (NASDAQ:NFLX) Sets New 12-Month High After Better-Than-Expected Earnings

Netflix, Inc. (NASDAQ:NFLX) hit a new 52-week high on Wednesday following a stronger than expected earnings report. The company traded as high as $997.00 and last traded at $984.48, with a volume of 574670 shares trading hands. The stock had previously closed at $869.68.

The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10,141,900 billion. Netflix had a net margin of 22.34% and a return on equity of 39.48%. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.11 earnings per share.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NFLX shares. Benchmark upgraded shares of Netflix from a “sell” rating to a “hold” rating in a research report on Wednesday. Oppenheimer lifted their price objective on shares of Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a report on Wednesday. UBS Group lifted their price objective on shares of Netflix from $1,040.00 to $1,150.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Rosenblatt Securities upgraded shares of Netflix from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $680.00 to $1,494.00 in a research note on Wednesday. Ten equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $996.94.

Insider Buying and Selling

In other Netflix news, Director Richard N. Barton sold 6,364 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the completion of the sale, the director now directly owns 246 shares in the company, valued at approximately $216,327.48. This trade represents a 96.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $896.60, for a total value of $43,362,265.80. Following the sale, the chairman now owns 114 shares of the company’s stock, valued at $102,212.40. The trade was a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 146,500 shares of company stock valued at $123,309,210 over the last three months. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several institutional investors have recently made changes to their positions in NFLX. Enzi Wealth grew its position in shares of Netflix by 3.4% in the 4th quarter. Enzi Wealth now owns 331 shares of the Internet television network’s stock valued at $316,000 after buying an additional 11 shares during the last quarter. TCI Wealth Advisors Inc. boosted its position in shares of Netflix by 1.6% during the 4th quarter. TCI Wealth Advisors Inc. now owns 700 shares of the Internet television network’s stock valued at $624,000 after purchasing an additional 11 shares in the last quarter. Advisory Resource Group boosted its position in shares of Netflix by 0.7% during the 3rd quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network’s stock valued at $1,238,000 after purchasing an additional 12 shares in the last quarter. Insight Wealth Strategies LLC boosted its position in shares of Netflix by 1.9% during the 4th quarter. Insight Wealth Strategies LLC now owns 656 shares of the Internet television network’s stock valued at $585,000 after purchasing an additional 12 shares in the last quarter. Finally, Sunflower Bank N.A. boosted its position in shares of Netflix by 2.1% during the 4th quarter. Sunflower Bank N.A. now owns 575 shares of the Internet television network’s stock valued at $513,000 after purchasing an additional 12 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Trading Up 3.2 %

The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average of $889.11 and a 200 day moving average of $763.41. The company has a market cap of $420.99 billion, a P/E ratio of 49.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.27.

Netflix Company Profile

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