Today: Short Interest in Netflix Inc. (NFLX) Declines By 6.6%

Today: Short Interest in Netflix Inc. (NFLX) Declines By 6.6%

Netflix Inc. (NASDAQ:NFLX) was the recipient of a large drop in short interest in November. As of November 15th, there was short interest totalling 28,691,858 shares, a drop of 6.6% from the October 31st total of 30,711,194 shares. Currently, 6.9% of the company’s shares are short sold. Based on an average daily volume of 8,028,716 shares, the days-to-cover ratio is currently 3.6 days.

In related news, Director Richard N. Barton sold 1,400 shares of Netflix stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $97.86, for a total value of $137,004.00. Following the transaction, the director now owns 15,562 shares of the company’s stock, valued at approximately $1,522,897.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Theodore A. Sarandos sold 91,966 shares of Netflix stock in a transaction dated Tuesday, October 18th. The stock was sold at an average price of $116.63, for a total value of $10,725,994.58. Following the completion of the transaction, the insider now directly owns 15,204 shares in the company, valued at approximately $1,773,242.52. The disclosure for this sale can be found here. 4.90% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the company. Fulton Bank N.A. increased its stake in Netflix by 0.3% in the third quarter. Fulton Bank N.A. now owns 4,450 shares of the Internet television network’s stock valued at $439,000 after buying an additional 12 shares in the last quarter. Concorde Asset Management LLC increased its stake in Netflix by 0.5% in the second quarter. Concorde Asset Management LLC now owns 4,205 shares of the Internet television network’s stock valued at $385,000 after buying an additional 20 shares in the last quarter. Coconut Grove Bank increased its stake in Netflix by 1.7% in the second quarter. Coconut Grove Bank now owns 1,526 shares of the Internet television network’s stock valued at $140,000 after buying an additional 26 shares in the last quarter. Conning Inc. increased its stake in Netflix by 0.3% in the second quarter. Conning Inc. now owns 10,915 shares of the Internet television network’s stock valued at $999,000 after buying an additional 30 shares in the last quarter. Finally, Edmond DE Rothschild Italia SGR SPA increased its stake in Netflix by 0.9% in the third quarter. Edmond DE Rothschild Italia SGR SPA now owns 3,829 shares of the Internet television network’s stock valued at $377,000 after buying an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 77.71% of the company’s stock.

NFLX has been the topic of a number of analyst reports. Vetr raised Netflix from a “buy” rating to a “strong-buy” rating and set a $102.57 price target on the stock in a research note on Monday, August 1st. Cantor Fitzgerald restated a “buy” rating on shares of Netflix in a research report on Sunday, August 14th. William Blair upgraded Netflix from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 24th. S&P Equity Research restated a “buy” rating and set a $128.00 price objective on shares of Netflix in a research report on Thursday, August 25th. Finally, Drexel Hamilton restated a “buy” rating and set a $110.00 price objective on shares of Netflix in a research report on Friday, August 26th. Eight analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirty have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $118.48.

Netflix (NASDAQ:NFLX) opened at 117.41 on Monday. The firm’s 50-day moving average price is $116.99 and its 200 day moving average price is $100.75. The firm has a market capitalization of $50.39 billion, a P/E ratio of 317.32 and a beta of 1.81. Netflix has a one year low of $79.95 and a one year high of $133.27.

Netflix (NASDAQ:NFLX) last posted its earnings results on Monday, October 17th. The Internet television network reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.06. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. Netflix had a return on equity of 6.31% and a net margin of 1.99%. The business’s quarterly revenue was up 31.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.07 earnings per share. On average, equities analysts anticipate that Netflix will post $0.40 earnings per share for the current fiscal year.

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