Netflix (NASDAQ:NFLX) Posts Quarterly Earnings Results, Beats Expectations By $0.77 EPS

Netflix (NASDAQ:NFLX) announced its earnings results on Thursday. The Internet television network reported $5.28 EPS for the quarter, topping the consensus estimate of $4.51 by $0.77, Briefing.com reports. The company had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. Netflix had a return on equity of 29.46% and a net margin of 18.42%. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.88 earnings per share.

Netflix Stock Down 9.1 %

Shares of Netflix stock opened at $555.04 on Friday. The business’s 50 day simple moving average is $605.65 and its 200 day simple moving average is $513.07. Netflix has a 52-week low of $315.62 and a 52-week high of $639.00. The firm has a market cap of $240.20 billion, a PE ratio of 38.52, a P/E/G ratio of 1.64 and a beta of 1.22. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.12 and a current ratio of 1.12.

Insider Activity at Netflix

In related news, Director Jay C. Hoag sold 47,000 shares of Netflix stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $550.50, for a total value of $25,873,500.00. Following the sale, the director now owns 431,034 shares of the company’s stock, valued at approximately $237,284,217. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Netflix news, Chairman Reed Hastings sold 20,566 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the transaction, the chairman now directly owns 28 shares in the company, valued at $17,091.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jay C. Hoag sold 47,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $550.50, for a total value of $25,873,500.00. Following the completion of the transaction, the director now owns 431,034 shares of the company’s stock, valued at $237,284,217. The disclosure for this sale can be found here. In the last quarter, insiders have sold 268,335 shares of company stock valued at $151,619,811. 2.45% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NFLX. Bartlett & CO. Wealth Management LLC boosted its stake in shares of Netflix by 9.3% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 295 shares of the Internet television network’s stock worth $145,000 after acquiring an additional 25 shares during the period. Gordian Capital Singapore Pte Ltd boosted its stake in shares of Netflix by 0.3% during the 2nd quarter. Gordian Capital Singapore Pte Ltd now owns 9,821 shares of the Internet television network’s stock worth $4,326,000 after acquiring an additional 25 shares during the period. Coastal Bridge Advisors LLC boosted its stake in shares of Netflix by 2.2% during the 4th quarter. Coastal Bridge Advisors LLC now owns 1,351 shares of the Internet television network’s stock worth $658,000 after acquiring an additional 29 shares during the period. Cornerstone Wealth Group LLC boosted its stake in shares of Netflix by 4.6% during the 4th quarter. Cornerstone Wealth Group LLC now owns 752 shares of the Internet television network’s stock worth $366,000 after acquiring an additional 33 shares during the period. Finally, BRYN MAWR TRUST Co boosted its stake in shares of Netflix by 1.3% during the 1st quarter. BRYN MAWR TRUST Co now owns 2,483 shares of the Internet television network’s stock worth $858,000 after acquiring an additional 33 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NFLX. Canaccord Genuity Group cut Netflix from a “buy” rating to a “hold” rating and decreased their target price for the stock from $720.00 to $585.00 in a report on Friday. Morgan Stanley raised their price target on Netflix from $600.00 to $700.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Loop Capital raised their price target on Netflix from $585.00 to $700.00 and gave the company a “buy” rating in a report on Monday, March 18th. Redburn Atlantic raised their price target on Netflix from $550.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Finally, Rosenblatt Securities decreased their price target on Netflix from $554.00 to $540.00 and set a “neutral” rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and an average price target of $630.58.

Netflix Company Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.