Investors Buy Shares of Netflix, Inc. (NFLX) on Weakness

Investors purchased shares of Netflix, Inc. (NASDAQ:NFLX) on weakness during trading on Wednesday. $230.66 million flowed into the stock on the tick-up and $183.42 million flowed out of the stock on the tick-down, for a money net flow of $47.24 million into the stock. Of all equities tracked, Netflix had the 19th highest net in-flow for the day. Netflix traded down ($1.51) for the day and closed at $183.64

A number of brokerages have weighed in on NFLX. Sanford C. Bernstein reiterated an “outperform” rating on shares of Netflix in a research report on Tuesday. Guggenheim restated a “buy” rating and issued a $210.00 price objective (up previously from $190.00) on shares of Netflix in a report on Tuesday. Loop Capital restated a “buy” rating and issued a $212.00 price objective (up previously from $205.00) on shares of Netflix in a report on Thursday, September 7th. SunTrust Banks, Inc. restated a “hold” rating and issued a $175.00 price objective on shares of Netflix in a report on Thursday, September 7th. Finally, Robert W. Baird restated a “hold” rating and issued a $175.00 price objective on shares of Netflix in a report on Friday, September 1st. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $178.70.

The stock has a market cap of $79.29 billion, a PE ratio of 223.41 and a beta of 1.05. The stock has a 50-day moving average of $175.43 and a 200 day moving average of $158.52.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Monday, July 17th. The Internet television network reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.76 billion. Netflix had a net margin of 3.55% and a return on equity of 12.82%. The business’s revenue for the quarter was up 32.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 earnings per share. On average, equities analysts predict that Netflix, Inc. will post $1.19 EPS for the current fiscal year.

In related news, Director Richard N. Barton sold 1,000 shares of the business’s stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $156.62, for a total value of $156,620.00. Following the sale, the director now owns 8,012 shares of the company’s stock, valued at approximately $1,254,839.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Reed Hastings sold 115,577 shares of the business’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $152.63, for a total value of $17,640,517.51. Following the completion of the sale, the chief executive officer now directly owns 115,577 shares in the company, valued at approximately $17,640,517.51. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 349,435 shares of company stock worth $59,221,491. 4.90% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Netflix by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 27,950,272 shares of the Internet television network’s stock valued at $4,176,049,000 after buying an additional 789,190 shares in the last quarter. BlackRock Inc. boosted its stake in Netflix by 1.7% in the 2nd quarter. BlackRock Inc. now owns 25,663,728 shares of the Internet television network’s stock valued at $3,834,416,000 after buying an additional 423,968 shares in the last quarter. FMR LLC boosted its stake in Netflix by 12.4% in the 2nd quarter. FMR LLC now owns 23,633,237 shares of the Internet television network’s stock valued at $3,531,042,000 after buying an additional 2,605,731 shares in the last quarter. State Street Corp boosted its stake in Netflix by 2.7% in the 1st quarter. State Street Corp now owns 17,535,737 shares of the Internet television network’s stock valued at $2,591,946,000 after buying an additional 463,143 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in Netflix by 14.0% in the 2nd quarter. Jennison Associates LLC now owns 14,784,089 shares of the Internet television network’s stock valued at $2,208,891,000 after buying an additional 1,814,056 shares in the last quarter. 81.05% of the stock is currently owned by institutional investors and hedge funds.

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Netflix Company Profile

Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.

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