Short Interest in Netflix, Inc. (NASDAQ:NFLX) Drops By 21.0%

Netflix, Inc. (NASDAQ:NFLXGet Rating) saw a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 7,640,000 shares, a decrease of 21.0% from the March 15th total of 9,670,000 shares. Based on an average trading volume of 8,120,000 shares, the short-interest ratio is presently 0.9 days. Currently, 1.8% of the shares of the stock are sold short.

In related news, CEO Reed Hastings purchased 46,900 shares of Netflix stock in a transaction dated Thursday, January 27th. The stock was bought at an average cost of $390.08 per share, with a total value of $18,294,752.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.68% of the company’s stock.

A number of institutional investors have recently modified their holdings of NFLX. Ascent Wealth Partners LLC lifted its holdings in shares of Netflix by 0.4% during the 3rd quarter. Ascent Wealth Partners LLC now owns 4,168 shares of the Internet television network’s stock worth $2,544,000 after acquiring an additional 15 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Netflix by 2.4% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 630 shares of the Internet television network’s stock worth $385,000 after acquiring an additional 15 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Netflix by 4.3% during the 3rd quarter. Larson Financial Group LLC now owns 360 shares of the Internet television network’s stock worth $220,000 after acquiring an additional 15 shares during the period. Ridgecrest Wealth Partners LLC lifted its holdings in shares of Netflix by 2.3% during the 3rd quarter. Ridgecrest Wealth Partners LLC now owns 697 shares of the Internet television network’s stock worth $426,000 after acquiring an additional 16 shares during the period. Finally, Private Portfolio Partners LLC lifted its holdings in shares of Netflix by 1.9% during the 3rd quarter. Private Portfolio Partners LLC now owns 984 shares of the Internet television network’s stock worth $601,000 after acquiring an additional 18 shares during the period. 81.37% of the stock is owned by hedge funds and other institutional investors.

Several analysts recently commented on the stock. Edward Jones raised shares of Netflix from a “hold” rating to a “buy” rating in a research note on Monday, January 31st. Piper Sandler reduced their price target on shares of Netflix from $705.00 to $562.00 and set an “overweight” rating for the company in a research report on Friday, January 21st. Robert W. Baird downgraded shares of Netflix from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $575.00 to $420.00 in a research report on Friday, January 21st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Netflix from $590.00 to $580.00 and set a “hold” rating for the company in a research report on Tuesday, January 18th. Finally, UBS Group reduced their price target on shares of Netflix from $690.00 to $575.00 and set a “buy” rating for the company in a research report on Friday, January 21st. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat.com, Netflix presently has a consensus rating of “Hold” and a consensus target price of $535.72.

Netflix stock traded up $10.77 during mid-day trading on Tuesday, reaching $348.63. The company had a trading volume of 136,254 shares, compared to its average volume of 7,694,160. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.93. Netflix has a 52 week low of $329.82 and a 52 week high of $700.99. The company has a 50 day moving average of $372.26 and a 200-day moving average of $513.76. The firm has a market cap of $154.89 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 1.26 and a beta of 0.97.

Netflix (NASDAQ:NFLXGet Rating) last issued its quarterly earnings results on Thursday, January 20th. The Internet television network reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.51. Netflix had a net margin of 17.23% and a return on equity of 35.34%. The firm had revenue of $7.71 billion during the quarter, compared to the consensus estimate of $7.71 billion. During the same period in the prior year, the firm earned $1.19 EPS. The business’s revenue was up 16.0% on a year-over-year basis. On average, analysts predict that Netflix will post 10.86 earnings per share for the current fiscal year.

About Netflix (Get Rating)

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.

Featured Articles

Receive News & Ratings for Netflix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix and related companies with MarketBeat.com's FREE daily email newsletter.