Netflix (NASDAQ:NFLX) Trading 2.2% Higher on Analyst Upgrade

Shares of Netflix, Inc. (NASDAQ:NFLX) were up 2.2% during trading on Tuesday after TD Cowen raised their price target on the stock from $775.00 to $820.00. TD Cowen currently has a buy rating on the stock. Netflix traded as high as $718.59 and last traded at $717.46. Approximately 832,201 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 3,657,759 shares. The stock had previously closed at $701.92.

Other research analysts have also recently issued reports about the stock. Pivotal Research increased their target price on shares of Netflix from $800.00 to $900.00 and gave the stock a “buy” rating in a report on Friday, August 30th. UBS Group increased their price objective on shares of Netflix from $685.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Piper Sandler raised shares of Netflix from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $650.00 to $800.00 in a research report on Monday. Needham & Company LLC reissued a “buy” rating and set a $700.00 price target on shares of Netflix in a research report on Friday, July 19th. Finally, Oppenheimer reissued an “outperform” rating and set a $725.00 price target on shares of Netflix in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $691.76.

Insider Transactions at Netflix

In related news, CEO Gregory K. Peters sold 1,278 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total value of $785,254.32. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $8,043,019.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Gregory K. Peters sold 1,278 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total transaction of $785,254.32. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $8,043,019.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Reed Hastings sold 45,290 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total value of $31,981,986.40. Following the sale, the chairman now directly owns 85 shares of the company’s stock, valued at approximately $60,023.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 224,784 shares of company stock valued at $150,212,870. 1.76% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Daymark Wealth Partners LLC grew its holdings in Netflix by 3.2% in the 3rd quarter. Daymark Wealth Partners LLC now owns 2,225 shares of the Internet television network’s stock valued at $1,578,000 after buying an additional 69 shares during the period. Sovereign Financial Group Inc. grew its holdings in shares of Netflix by 42.9% during the 3rd quarter. Sovereign Financial Group Inc. now owns 440 shares of the Internet television network’s stock worth $312,000 after purchasing an additional 132 shares during the period. Gratus Wealth Advisors LLC lifted its position in Netflix by 10.3% during the 3rd quarter. Gratus Wealth Advisors LLC now owns 1,856 shares of the Internet television network’s stock worth $1,303,000 after acquiring an additional 174 shares in the last quarter. Talbot Financial LLC lifted its position in Netflix by 5.2% during the 3rd quarter. Talbot Financial LLC now owns 16,264 shares of the Internet television network’s stock worth $11,536,000 after acquiring an additional 808 shares in the last quarter. Finally, Brookstone Capital Management lifted its position in Netflix by 6.4% during the 3rd quarter. Brookstone Capital Management now owns 7,486 shares of the Internet television network’s stock worth $5,310,000 after acquiring an additional 447 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Performance

The stock has a 50-day simple moving average of $678.35 and a 200-day simple moving average of $648.76. The company has a market capitalization of $311.08 billion, a price-to-earnings ratio of 50.09, a price-to-earnings-growth ratio of 1.44 and a beta of 1.26. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.29 EPS. On average, analysts anticipate that Netflix, Inc. will post 19.08 earnings per share 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.