Traders Buy Shares of Netflix (NFLX) on Weakness

Traders bought shares of Netflix, Inc. (NASDAQ:NFLX) on weakness during trading hours on Monday. $300.51 million flowed into the stock on the tick-up and $216.91 million flowed out of the stock on the tick-down, for a money net flow of $83.60 million into the stock. Of all stocks tracked, Netflix had the 7th highest net in-flow for the day. Netflix traded down ($2.32) for the day and closed at $186.22

A number of equities analysts recently commented on NFLX shares. Vetr lowered Netflix from a “hold” rating to a “sell” rating and set a $165.09 price target for the company. in a research note on Wednesday, August 30th. Robert W. Baird restated a “hold” rating and set a $175.00 price objective on shares of Netflix in a research report on Friday, September 1st. Jefferies Group set a $165.00 price objective on Netflix and gave the company a “neutral” rating in a research report on Monday, September 18th. Zacks Investment Research upgraded Netflix from a “hold” rating to a “buy” rating and set a $219.00 price objective on the stock in a research report on Monday, November 20th. Finally, KeyCorp restated a “buy” rating and set a $190.00 price objective on shares of Netflix in a research report on Friday, August 25th. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the stock. Netflix currently has a consensus rating of “Buy” and an average price target of $209.65.

The firm has a market cap of $80,370.00, a P/E ratio of 188.10, a PEG ratio of 5.53 and a beta of 1.33. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.20 and a quick ratio of 1.20.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Monday, October 16th. The Internet television network reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.03). Netflix had a return on equity of 14.56% and a net margin of 4.04%. The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same period last year, the company earned $0.12 EPS. The firm’s revenue for the quarter was up 30.3% compared to the same quarter last year. research analysts expect that Netflix, Inc. will post 1.26 EPS for the current year.

In related news, CEO Reed Hastings sold 75,467 shares of the stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $185.02, for a total value of $13,962,904.34. Following the transaction, the chief executive officer now owns 75,467 shares of the company’s stock, valued at $13,962,904.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard N. Barton sold 2,000 shares of the stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $184.30, for a total value of $368,600.00. Following the sale, the director now directly owns 8,012 shares in the company, valued at approximately $1,476,611.60. The disclosure for this sale can be found here. In the last three months, insiders sold 325,285 shares of company stock worth $62,818,751. 4.90% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in NFLX. Bessemer Group Inc. boosted its position in Netflix by 119.6% during the 2nd quarter. Bessemer Group Inc. now owns 4,987 shares of the Internet television network’s stock valued at $745,000 after acquiring an additional 2,716 shares in the last quarter. Wedbush Securities Inc. boosted its position in Netflix by 16.1% during the 2nd quarter. Wedbush Securities Inc. now owns 2,475 shares of the Internet television network’s stock valued at $370,000 after acquiring an additional 343 shares in the last quarter. Advisors Asset Management Inc. boosted its position in Netflix by 7.3% during the 2nd quarter. Advisors Asset Management Inc. now owns 7,525 shares of the Internet television network’s stock valued at $1,124,000 after acquiring an additional 515 shares in the last quarter. LMR Partners LLP bought a new stake in Netflix during the 2nd quarter valued at $1,251,000. Finally, Dowling & Yahnke LLC boosted its position in Netflix by 4.3% during the 2nd quarter. Dowling & Yahnke LLC now owns 6,277 shares of the Internet television network’s stock valued at $938,000 after acquiring an additional 257 shares in the last quarter. 83.37% of the stock is currently owned by institutional investors and hedge funds.

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About Netflix

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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