An issue of Netflix Inc. (NASDAQ:NFLX) bonds rose 1.9% against their face value during trading on Wednesday after an insider sold shares in the company. The high-yield issue of debt has a 5.875% coupon and is set to mature on February 15, 2025. The debt is now trading at $113.00 and was trading at $107.95 one week ago. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its share price. Specifically, Director Jay C. Hoag purchased 600,000 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The shares were acquired at an average cost of $86.43 per share, with a total value of $51,858,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Richard N. Barton sold 700 shares of the company’s stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $96.19, for a total value of $67,333.00. Following the sale, the director now directly owns 15,562 shares in the company, valued at $1,496,908.78. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.
A number of research analysts recently commented on the company. Vetr downgraded Netflix from a “buy” rating to a “hold” rating and set a $105.94 price objective for the company. in a research note on Monday. Zacks Investment Research downgraded Netflix from a “buy” rating to a “hold” rating in a research note on Tuesday. Robert W. Baird restated a “neutral” rating and set a $94.00 price objective on shares of Netflix in a research note on Tuesday. Loop Capital assumed coverage on Netflix in a research note on Tuesday. They set a “buy” rating and a $125.00 price objective for the company. Finally, SunTrust Banks Inc. restated a “neutral” rating and set a $100.00 price objective on shares of Netflix in a research note on Wednesday. Seven research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $110.97.
The firm has a 50 day moving average of $97.38 and a 200-day moving average of $96.17. The firm has a market capitalization of $45.56 billion, a PE ratio of 332.12 and a beta of 1.14.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Monday, July 18th. The Internet television network reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.07. The company had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Netflix had a net margin of 1.85% and a return on equity of 5.59%. Netflix’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.06 EPS. On average, equities analysts anticipate that Netflix Inc. will post $0.29 EPS for the current fiscal year.
Several large investors have recently bought and sold shares of NFLX. Howard Hughes Medical Institute boosted its stake in Netflix by 89.8% in the first quarter. Howard Hughes Medical Institute now owns 10,945 shares of the Internet television network’s stock worth $1,119,000 after buying an additional 5,178 shares during the period. Tobam boosted its stake in Netflix by 67.1% in the first quarter. Tobam now owns 299,511 shares of the Internet television network’s stock worth $30,619,000 after buying an additional 120,302 shares during the period. Nikko Asset Management Americas Inc. boosted its stake in Netflix by 33.3% in the first quarter. Nikko Asset Management Americas Inc. now owns 2,800 shares of the Internet television network’s stock worth $286,000 after buying an additional 700 shares during the period. NN Investment Partners Holdings N.V. bought a new stake in Netflix during the first quarter worth approximately $2,142,000. Finally, Advisor Partners LLC boosted its stake in Netflix by 10.7% in the first quarter. Advisor Partners LLC now owns 6,261 shares of the Internet television network’s stock worth $640,000 after buying an additional 607 shares during the period. 78.43% of the stock is currently owned by institutional investors.
Netflix, Inc (Netflix) is a provider of Internet television network. The Company’s members can watch original series, documentaries and feature films in Internet-connected screen. The Company has three operating segments: Domestic streaming, International streaming and Domestic DVD. The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content.
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