Netflix (NASDAQ:NFLX) Trading 0% Higher After Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX)’s share price rose 0% on Wednesday after Argus raised their price target on the stock from $660.00 to $767.00. Argus currently has a buy rating on the stock. Netflix traded as high as $682.62 and last traded at $679.89. Approximately 343,001 shares traded hands during trading, a decline of 91% from the average daily volume of 3,936,849 shares. The stock had previously closed at $679.58.

Several other analysts also recently weighed in on NFLX. BMO Capital Markets restated an “outperform” rating and set a $713.00 target price (up previously from $638.00) on shares of Netflix in a research note on Wednesday, April 17th. Macquarie increased their price objective on Netflix from $595.00 to $685.00 and gave the company an “outperform” rating in a research report on Tuesday, April 16th. Pivotal Research boosted their target price on shares of Netflix from $765.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. TD Cowen upped their target price on shares of Netflix from $600.00 to $725.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $700.00 price target on shares of Netflix in a research report on Monday, June 17th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and an average target price of $637.34.

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 22,526 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total value of $15,103,457.74. Following the completion of the transaction, the chairman now directly owns 57 shares of the company’s stock, valued at $38,217.93. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Netflix news, Chairman Reed Hastings sold 22,526 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $670.49, for a total value of $15,103,457.74. Following the transaction, the chairman now directly owns 57 shares of the company’s stock, valued at $38,217.93. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Spencer Adam Neumann sold 564 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $613.08, for a total transaction of $345,777.12. The disclosure for this sale can be found here. Insiders sold 71,385 shares of company stock valued at $44,469,351 over the last ninety days. 1.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Netflix

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Netflix in the fourth quarter valued at about $2,558,598,000. Wellington Management Group LLP lifted its stake in Netflix by 540.9% in the 4th quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock valued at $1,888,503,000 after acquiring an additional 3,273,592 shares in the last quarter. GQG Partners LLC acquired a new position in Netflix during the 1st quarter worth approximately $1,450,476,000. International Assets Investment Management LLC grew its stake in shares of Netflix by 15,039.1% during the 4th quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock worth $1,010,553,000 after acquiring an additional 2,061,859 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Netflix by 40.6% in the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after purchasing an additional 1,573,978 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Performance

The stock’s 50-day moving average price is $633.35 and its 200 day moving average price is $587.97. The firm has a market cap of $292.16 billion, a P/E ratio of 47.18, a price-to-earnings-growth ratio of 1.46 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. The company had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.88 EPS. As a group, equities analysts predict that Netflix, Inc. will post 18.31 EPS for the current year.

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.