Netflix (NASDAQ:NFLX) Hits New 52-Week High on Analyst Upgrade

Shares of Netflix, Inc. (NASDAQ:NFLX) reached a new 52-week high on Wednesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $590.00 to $650.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Netflix traded as high as $726.53 and last traded at $725.57, with a volume of 57833 shares. The stock had previously closed at $721.76.

Several other analysts also recently issued reports on the company. Guggenheim lifted their price target on Netflix from $700.00 to $735.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Needham & Company LLC reissued a “buy” rating and issued a $700.00 price target on shares of Netflix in a research note on Friday, July 19th. China Renaissance assumed coverage on Netflix in a research note on Thursday, September 5th. They issued a “hold” rating and a $680.00 price target on the stock. Barclays reissued an “underweight” rating and issued a $550.00 price target on shares of Netflix in a research note on Monday. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $750.00 price target on shares of Netflix in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and an average target price of $694.71.

Insider Transactions at Netflix

In other news, Director Leslie J. Kilgore sold 402 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total transaction of $291,450.00. Following the completion of the sale, the director now owns 35,262 shares in the company, valued at $25,564,950. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Leslie J. Kilgore sold 402 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total transaction of $291,450.00. Following the completion of the sale, the director now owns 35,262 shares in the company, valued at $25,564,950. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The disclosure for this sale can be found here. Insiders sold a total of 224,784 shares of company stock worth $150,212,870 over the last quarter. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several institutional investors have recently made changes to their positions in NFLX. Denver PWM LLC bought a new stake in shares of Netflix in the second quarter valued at approximately $25,000. Valued Wealth Advisors LLC boosted its stake in shares of Netflix by 80.0% in the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after buying an additional 20 shares during the period. Beaird Harris Wealth Management LLC boosted its stake in shares of Netflix by 1,550.0% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after buying an additional 62 shares during the period. Scarborough Advisors LLC bought a new stake in shares of Netflix in the fourth quarter valued at approximately $32,000. Finally, Indiana Trust & Investment Management CO boosted its stake in shares of Netflix by 112.0% in the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after buying an additional 28 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Netflix Trading Up 0.8 %

The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $313.52 billion, a P/E ratio of 50.48, a PEG ratio of 1.44 and a beta of 1.26. The firm has a 50 day moving average of $680.33 and a 200-day moving average of $649.42.

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