Netflix (NASDAQ:NFLX) Trading 0.6% Higher on Analyst Upgrade

Shares of Netflix, Inc. (NASDAQ:NFLX) traded up 0.6% on Thursday after Bank of America raised their price target on the stock from $800.00 to $1,000.00. Bank of America currently has a buy rating on the stock. Netflix traded as high as $894.77 and last traded at $888.84. 1,239,057 shares traded hands during trading, a decline of 66% from the average session volume of 3,653,134 shares. The stock had previously closed at $883.85.

NFLX has been the subject of several other research reports. Evercore ISI boosted their price objective on shares of Netflix from $750.00 to $775.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Wells Fargo & Company upped their price objective on shares of Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Macquarie reaffirmed an “outperform” rating and set a $795.00 price objective on shares of Netflix in a report on Friday, October 18th. Pivotal Research boosted their target price on Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Guggenheim raised their price target on Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, Netflix has an average rating of “Moderate Buy” and an average target price of $764.82.

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 25,074 shares of Netflix stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the sale, the chairman now directly owns 85 shares in the company, valued at $57,878.20. The trade was a 99.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory K. Peters sold 4,392 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total transaction of $3,184,200.00. Following the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $9,490,250. The trade was a 25.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 185,866 shares of company stock worth $133,393,921 over the last ninety days. 1.76% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC increased its position in shares of Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after purchasing an additional 5,748,200 shares during the period. Assenagon Asset Management S.A. grew its holdings in Netflix by 154.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after acquiring an additional 642,920 shares during the period. Jericho Capital Asset Management L.P. bought a new stake in Netflix in the first quarter worth about $372,293,000. State Street Corp lifted its holdings in Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after acquiring an additional 426,740 shares during the last quarter. Finally, Swedbank AB bought a new position in shares of Netflix during the 1st quarter valued at about $216,538,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Price Performance

The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The company’s 50 day moving average price is $751.39 and its 200-day moving average price is $688.25. The company has a market cap of $383.03 billion, a price-to-earnings ratio of 50.71, a PEG ratio of 1.68 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. On average, equities research analysts forecast that Netflix, Inc. will post 19.78 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.