Netflix, Inc. (NASDAQ:NFLX – Get Rating) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 12,050,000 shares, a growth of 25.0% from the October 15th total of 9,640,000 shares. Based on an average daily volume of 11,260,000 shares, the short-interest ratio is currently 1.1 days. Currently, 2.8% of the shares of the stock are short sold.
Institutional Investors Weigh In On Netflix
Institutional investors have recently bought and sold shares of the company. CapWealth Advisors LLC acquired a new stake in Netflix in the first quarter valued at approximately $2,949,000. Gabelli Funds LLC boosted its stake in Netflix by 3.6% in the first quarter. Gabelli Funds LLC now owns 95,567 shares of the Internet television network’s stock valued at $35,798,000 after acquiring an additional 3,300 shares in the last quarter. Duality Advisers LP acquired a new stake in Netflix in the first quarter valued at approximately $752,000. Independent Advisor Alliance boosted its stake in Netflix by 9.2% in the first quarter. Independent Advisor Alliance now owns 30,488 shares of the Internet television network’s stock valued at $11,420,000 after acquiring an additional 2,570 shares in the last quarter. Finally, Achmea Investment Management B.V. acquired a new stake in Netflix in the first quarter valued at approximately $8,484,000. 75.52% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts recently commented on the stock. Wedbush increased their price target on shares of Netflix from $280.00 to $325.00 and gave the company an “outperform” rating in a report on Wednesday, October 19th. Macquarie increased their price target on shares of Netflix from $230.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, October 19th. Rosenblatt Securities increased their price target on shares of Netflix from $201.00 to $226.00 and gave the company a “neutral” rating in a report on Wednesday, October 19th. JPMorgan Chase & Co. raised shares of Netflix from a “neutral” rating to an “overweight” rating and increased their price target for the company from $240.00 to $330.00 in a report on Wednesday, October 19th. Finally, StockNews.com assumed coverage on shares of Netflix in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Five equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $306.55.
Netflix Stock Up 3.2 %
NFLX stock traded up $9.14 during trading on Monday, hitting $299.27. 17,920,223 shares of the company’s stock traded hands, compared to its average volume of 11,173,043. The firm has a market capitalization of $133.18 billion, a P/E ratio of 26.82, a PEG ratio of 1.45 and a beta of 1.28. The business has a fifty day simple moving average of $250.61 and a two-hundred day simple moving average of $218.96. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.68. Netflix has a 1 year low of $162.71 and a 1 year high of $700.99.
Netflix (NASDAQ:NFLX – Get Rating) last issued its quarterly earnings data on Tuesday, October 18th. The Internet television network reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.97. The company had revenue of $7.93 billion for the quarter, compared to analyst estimates of $7.84 billion. Netflix had a net margin of 16.03% and a return on equity of 27.64%. Netflix’s revenue was up 5.9% compared to the same quarter last year. During the same period last year, the company posted $3.19 earnings per share. Sell-side analysts anticipate that Netflix will post 10.27 EPS for the current year.
Netflix Company Profile
Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.