Netflix, Inc. (NASDAQ:NFLX – Get Free Report)’s share price was up 2% during trading on Wednesday. The company traded as high as $64.56 and last traded at $64.54. Approximately 28,700,415 shares traded hands during trading, a decline of 33% from the average session volume of 42,663,793 shares. The stock had previously closed at $63.26.
More Netflix News
Here’s some of the latest news about NFLX:
- Positive Sentiment: Netflix beat quarterly earnings-per-share estimates, with revenue up 11.9% year over year. The stock has also undergone a sharp valuation reset, trading below 18 times earnings in one analysis—potentially attractive to investors who expect a recovery. Article: Netflix trades under 18x earnings after a steep valuation reset
- Negative Sentiment: Coverage cites slowing growth and signs viewers are watching less, raising concerns about Netflix’s outlook. Management has made content-leadership changes, but investors may wait for evidence those moves improve engagement and growth. Article: Why Netflix Stock Plunged 11% in October
- Negative Sentiment: One trading article characterizes NFLX as a potential underperformer this year and discusses a temporary bear-spread strategy, reflecting a cautious near-term view rather than a change in Netflix’s business. Article: Netflix Stock May Be a Loser This Year, But You Can Still Scalp Profits From It
Analyst Upgrades and Downgrades
Several analysts have issued reports on the company. UBS Group set a $90.00 price objective on Netflix in a research note on Wednesday, October 21st. Guggenheim reduced their target price on Netflix from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, October 21st. Citigroup reissued a “buy” rating and set a $85.00 target price (down from $100.00) on shares of Netflix in a report on Wednesday, October 21st. China Renaissance dropped their price target on Netflix from $100.00 to $80.00 and set a “hold” rating on the stock in a research note on Friday, July 17th. Finally, Weiss Ratings downgraded Netflix from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, seventeen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $89.14.
Get Our Latest Analysis on Netflix
Netflix Stock Up 2.0%
The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43. The stock has a market cap of $265.02 billion, a P/E ratio of 18.65, a PEG ratio of 0.94 and a beta of 1.62. The firm has a 50-day simple moving average of $70.32 and a two-hundred day simple moving average of $80.76.
Netflix (NASDAQ:NFLX – Get Free Report) last released its quarterly earnings results on Tuesday, October 20th. The Internet television network reported $0.87 EPS for the quarter, beating the consensus estimate of $0.82 by $0.05. Netflix had a net margin of 29.69% and a return on equity of 42.69%. The business had revenue of $12.87 billion for the quarter, compared to the consensus estimate of $12.87 billion. During the same period in the prior year, the company posted $0.59 earnings per share. Netflix’s revenue was up 11.9% compared to the same quarter last year. Equities research analysts expect that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, insider David A. Hyman sold 5,727 shares of the company’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $64.55, for a total transaction of $369,677.85. Following the completion of the sale, the insider owned 166,100 shares of the company’s stock, valued at $10,721,755. This represents a 3.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Spencer Neumann sold 9,253 shares of the stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $66.15, for a total transaction of $612,085.95. Following the sale, the chief financial officer owned 73,787 shares in the company, valued at $4,881,010.05. The trade was a 11.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 89,024 shares of company stock valued at $5,788,733 in the last ninety days. Insiders own 1.24% of the company’s stock.
Institutional Trading of Netflix
Large investors have recently made changes to their positions in the company. Advisors Asset Management Inc. acquired a new stake in shares of Netflix in the 3rd quarter valued at approximately $7,375,000. Beta Wealth Group Inc. increased its position in Netflix by 5.4% during the 3rd quarter. Beta Wealth Group Inc. now owns 7,800 shares of the Internet television network’s stock worth $543,000 after purchasing an additional 400 shares in the last quarter. Private Wealth Asset Management LLC increased its position in Netflix by 50.0% during the 3rd quarter. Private Wealth Asset Management LLC now owns 20,371 shares of the Internet television network’s stock worth $1,292,000 after purchasing an additional 6,791 shares in the last quarter. Birchcreek Wealth Management LLC increased its position in Netflix by 14.4% during the 3rd quarter. Birchcreek Wealth Management LLC now owns 9,514 shares of the Internet television network’s stock worth $662,000 after purchasing an additional 1,196 shares in the last quarter. Finally, Westpac Banking Corp increased its position in Netflix by 9.4% during the 3rd quarter. Westpac Banking Corp now owns 61,664 shares of the Internet television network’s stock worth $4,291,000 after purchasing an additional 5,299 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.
Netflix Company Profile
Netflix, Inc. is an entertainment company that offers subscription-based streaming of television series, films, documentaries and other programming. Its service also includes mobile games and, in some markets, advertising-supported viewing plans. Netflix produces and licenses content, including titles made under its Netflix brand. Founded in 1997 by Reed Hastings and Marc Randolph as a DVD-by-mail rental business, the company launched its streaming service in 2007 and later expanded into original programming.
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