Traders Buy Netflix, Inc. (NFLX) on Weakness

Investors purchased shares of Netflix, Inc. (NASDAQ:NFLX) on weakness during trading on Wednesday. $313.55 million flowed into the stock on the tick-up and $266.71 million flowed out of the stock on the tick-down, for a money net flow of $46.84 million into the stock. Of all companies tracked, Netflix had the 15th highest net in-flow for the day. Netflix traded down ($0.13) for the day and closed at $194.95

Several equities analysts recently commented on NFLX shares. Piper Jaffray Companies reiterated a “buy” rating and set a $215.00 price target on shares of Netflix in a report on Monday, September 18th. Royal Bank Of Canada reiterated an “outperform” rating and set a $210.00 price target on shares of Netflix in a report on Friday, October 6th. Vetr upgraded shares of Netflix from a “sell” rating to a “hold” rating and set a $165.75 price target on the stock in a report on Thursday, August 10th. MKM Partners reiterated a “buy” rating and set a $195.00 price target on shares of Netflix in a report on Monday, July 10th. Finally, J P Morgan Chase & Co reiterated a “buy” rating on shares of Netflix in a report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and thirty have given a buy rating to the company. Netflix has an average rating of “Buy” and an average price target of $189.92.

The firm’s 50-day moving average price is $181.96 and its 200 day moving average price is $165.19. The firm has a market capitalization of $84.56 billion, a PE ratio of 238.27 and a beta of 1.09.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Monday, July 17th. The Internet television network reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.01). The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.76 billion. Netflix had a return on equity of 12.82% and a net margin of 3.55%. The company’s revenue was up 32.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.09 earnings per share. On average, equities analysts expect that Netflix, Inc. will post $1.18 EPS for the current fiscal year.

In related news, Director Leslie J. Kilgore sold 903 shares of the firm’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $194.00, for a total value of $175,182.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Reed Hastings sold 109,214 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $188.61, for a total transaction of $20,598,852.54. Following the completion of the transaction, the chief executive officer now owns 109,214 shares in the company, valued at approximately $20,598,852.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 318,067 shares of company stock worth $57,315,706. Insiders own 4.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of NFLX. AXA raised its holdings in Netflix by 92.0% in the first quarter. AXA now owns 158,400 shares of the Internet television network’s stock valued at $23,413,000 after buying an additional 75,900 shares during the period. Traynor Capital Management Inc. raised its holdings in Netflix by 7.8% in the first quarter. Traynor Capital Management Inc. now owns 34,776 shares of the Internet television network’s stock valued at $5,430,000 after buying an additional 2,508 shares during the period. Summit Financial Wealth Advisors LLC purchased a new position in Netflix in the first quarter valued at approximately $220,000. Municipal Employees Retirement System of Michigan raised its holdings in Netflix by 0.9% in the first quarter. Municipal Employees Retirement System of Michigan now owns 15,080 shares of the Internet television network’s stock valued at $2,229,000 after buying an additional 130 shares during the period. Finally, HCR Wealth Advisors raised its holdings in Netflix by 11.1% in the first quarter. HCR Wealth Advisors now owns 2,749 shares of the Internet television network’s stock valued at $406,000 after buying an additional 275 shares during the period. Hedge funds and other institutional investors own 81.02% of the company’s stock.

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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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