Netflix (NASDAQ:NFLX) Trading 1.4% Higher Following Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX) shares were up 1.4% during trading on Thursday after BMO Capital Markets raised their price target on the stock from $825.00 to $1,000.00. BMO Capital Markets currently has an outperform rating on the stock. Netflix traded as high as $868.98 and last traded at $860.49. Approximately 1,144,767 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 2,885,180 shares. The stock had previously closed at $848.26.

Several other equities analysts also recently commented on the company. Bank of America increased their target price on Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Argus raised their price target on shares of Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Jefferies Financial Group lifted their target price on shares of Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. lowered their target price on shares of Netflix from $1,010.00 to $1,000.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. Finally, Wolfe Research reiterated an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $845.82.

Insider Activity

In related news, Director Leslie J. Kilgore sold 358 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $765.00, for a total transaction of $273,870.00. Following the completion of the sale, the director now owns 35,262 shares in the company, valued at approximately $26,975,430. This trade represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Anne M. Sweeney sold 589 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total transaction of $518,320.00. The disclosure for this sale can be found here. Insiders sold a total of 156,742 shares of company stock valued at $131,030,268 in the last ninety days. 1.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Netflix

Several large investors have recently modified their holdings of NFLX. RPg Family Wealth Advisory LLC purchased a new position in shares of Netflix in the third quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after acquiring an additional 42 shares during the period. MidAtlantic Capital Management Inc. bought a new position in Netflix in the 3rd quarter valued at $37,000. FSA Wealth Management LLC bought a new position in Netflix in the 3rd quarter valued at $38,000. Finally, First Personal Financial Services bought a new position in Netflix in the 3rd quarter valued at $40,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

The stock has a market capitalization of $367.38 billion, a P/E ratio of 48.64, a P/E/G ratio of 1.35 and a beta of 1.27. The company’s fifty day simple moving average is $881.04 and its 200 day simple moving average is $755.96. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.09 by $0.31. The company had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. As a group, sell-side analysts forecast that Netflix, Inc. will post 19.78 earnings per share for the current fiscal 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.