Netflix, Inc. (NASDAQ:NFLX) Short Interest Up 8.9% in October

Netflix, Inc. (NASDAQ:NFLX) was the recipient of a significant increase in short interest in October. As of October 31st, there was short interest totalling 25,320,000 shares, an increase of 8.9% from the September 30th total of 23,250,000 shares. Approximately 5.9% of the shares of the stock are short sold. Based on an average daily volume of 8,210,000 shares, the short-interest ratio is presently 3.1 days.

Netflix stock opened at $295.03 on Friday. The company has a 50 day moving average price of $279.50 and a 200-day moving average price of $320.55. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.73 and a current ratio of 0.73. Netflix has a fifty-two week low of $231.23 and a fifty-two week high of $385.99. The company has a market capitalization of $127.85 billion, a PE ratio of 110.09, a P/E/G ratio of 2.92 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Wednesday, October 16th. The Internet television network reported $1.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.42. Netflix had a net margin of 7.49% and a return on equity of 23.65%. The firm had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.25 billion. During the same quarter in the previous year, the firm posted $0.89 earnings per share. The company’s revenue was up 31.2% on a year-over-year basis. On average, analysts forecast that Netflix will post 3.33 earnings per share for the current year.

NFLX has been the subject of a number of analyst reports. Rosenblatt Securities lowered their price target on shares of Netflix from $330.00 to $265.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Oppenheimer lowered their price target on shares of Netflix from $410.00 to $385.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Credit Suisse Group reaffirmed a “buy” rating and issued a $440.00 price target on shares of Netflix in a report on Thursday, October 17th. Aegis reaffirmed a “hold” rating and issued a $275.00 price target on shares of Netflix in a report on Tuesday, October 22nd. Finally, Evercore ISI lowered their price target on shares of Netflix from $380.00 to $300.00 and set an “in-line” rating for the company in a report on Monday, October 7th. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $369.54.

In other news, CEO Reed Hastings sold 43,372 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $266.57, for a total transaction of $11,561,674.04. Following the completion of the transaction, the chief executive officer now owns 43,372 shares in the company, valued at $11,561,674.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 135,702 shares of company stock valued at $38,290,015. Company insiders own 4.29% of the company’s stock.

Several institutional investors have recently bought and sold shares of NFLX. Nuveen Asset Management LLC bought a new stake in shares of Netflix during the second quarter valued at approximately $1,246,724,000. Invesco Ltd. raised its stake in shares of Netflix by 39.1% during the second quarter. Invesco Ltd. now owns 7,249,377 shares of the Internet television network’s stock valued at $2,662,841,000 after acquiring an additional 2,039,046 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Netflix by 142.6% during the third quarter. Fisher Asset Management LLC now owns 2,216,329 shares of the Internet television network’s stock valued at $593,134,000 after acquiring an additional 1,302,678 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Netflix by 3.5% during the second quarter. Vanguard Group Inc. now owns 32,688,805 shares of the Internet television network’s stock valued at $12,007,252,000 after acquiring an additional 1,118,349 shares in the last quarter. Finally, Thoroughbred Financial Services LLC raised its stake in shares of Netflix by 36,563.5% during the second quarter. Thoroughbred Financial Services LLC now owns 786,432 shares of the Internet television network’s stock valued at $78,643,000 after acquiring an additional 784,287 shares in the last quarter. 79.22% of the stock is owned by hedge funds and other institutional investors.

About Netflix

Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

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