Netflix (NASDAQ:NFLX) Trading Up 2.3% on Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX) shares shot up 2.3% during mid-day trading on Tuesday after Guggenheim raised their price target on the stock from $600.00 to $700.00. Guggenheim currently has a buy rating on the stock. Netflix traded as high as $622.20 and last traded at $620.92. 1,290,161 shares were traded during trading, a decline of 69% from the average session volume of 4,221,854 shares. The stock had previously closed at $607.15.

Several other equities research analysts have also issued reports on the stock. Piper Sandler lifted their target price on shares of Netflix from $550.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Redburn Atlantic lifted their price objective on shares of Netflix from $550.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. UBS Group increased their target price on Netflix from $570.00 to $685.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Canaccord Genuity Group lifted their price target on Netflix from $575.00 to $625.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Finally, The Goldman Sachs Group upped their price objective on Netflix from $500.00 to $565.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $614.28.

Insider Activity at Netflix

In related news, insider David A. Hyman sold 47,574 shares of Netflix stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total value of $25,591,006.08. Following the sale, the insider now owns 31,610 shares in the company, valued at $17,003,651.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Chairman Reed Hastings sold 20,566 shares of the 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 owns 28 shares of the company’s stock, valued at approximately $17,091.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David A. Hyman sold 47,574 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total value of $25,591,006.08. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $17,003,651.20. The disclosure for this sale can be found here. Insiders sold a total of 268,335 shares of company stock worth $151,619,811 over the last quarter. 2.45% of the stock is owned by corporate insiders.

Institutional Trading of Netflix

A number of hedge funds have recently modified their holdings of NFLX. KFA Private Wealth Group LLC boosted its holdings in shares of Netflix by 1.9% during the 4th quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock valued at $466,000 after purchasing an additional 18 shares during the last quarter. Legacy Capital Group California Inc. boosted its stake in Netflix by 0.6% during the fourth quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network’s stock valued at $1,379,000 after buying an additional 18 shares during the last quarter. Founders Financial Alliance LLC boosted its stake in Netflix by 2.4% during the fourth quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock valued at $369,000 after buying an additional 18 shares during the last quarter. Addison Advisors LLC grew its holdings in Netflix by 7.8% during the 4th quarter. Addison Advisors LLC now owns 276 shares of the Internet television network’s stock valued at $134,000 after buying an additional 20 shares in the last quarter. Finally, PFS Partners LLC increased its stake in Netflix by 40.0% in the 1st quarter. PFS Partners LLC now owns 70 shares of the Internet television network’s stock worth $43,000 after acquiring an additional 20 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Down 0.6 %

The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $265.58 billion, a PE ratio of 51.10, a PEG ratio of 1.64 and a beta of 1.22. The company has a fifty day moving average price of $604.73 and a 200-day moving average price of $511.17.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 earnings per share for the quarter, missing the consensus estimate of $2.20 by ($0.09). Netflix had a return on equity of 24.76% and a net margin of 16.04%. The business had revenue of $8.83 billion during the quarter, compared to the consensus estimate of $8.72 billion. During the same quarter in the prior year, the firm posted $0.12 EPS. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, analysts expect that Netflix, Inc. will post 17.03 earnings per share for the current year.

About Netflix

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.