Netflix (NASDAQ:NFLX) Trading Up 0.5% on Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX)’s share price was up 0.5% during trading on Monday after Argus raised their price target on the stock from $840.00 to $1,040.00. Argus currently has a buy rating on the stock. Netflix traded as high as $892.83 and last traded at $885.72. Approximately 1,018,376 shares were traded during trading, a decline of 50% from the average daily volume of 2,042,210 shares. The stock had previously closed at $881.05.

Other equities research analysts also recently issued reports about the stock. Oppenheimer raised their target price on shares of Netflix from $825.00 to $1,065.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. The Goldman Sachs Group set a $750.00 price objective on shares of Netflix in a research report on Friday, October 18th. Evercore ISI raised their target price on shares of Netflix from $775.00 to $950.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Barclays reaffirmed an “underweight” rating and set a $550.00 price target on shares of Netflix in a report on Friday, October 18th. Finally, Wedbush reissued an “outperform” rating and issued a $950.00 price objective (up from $800.00) on shares of Netflix in a research note on Monday, November 18th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and an average price target of $821.27.

Insider Buying and Selling at Netflix

In related news, Director Leslie J. Kilgore sold 383 shares of Netflix stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $730.00, for a total transaction of $279,590.00. Following the sale, the director now directly owns 35,262 shares in the company, valued at $25,741,260. The trade was a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the transaction, the chairman now directly owns 114 shares of the company’s stock, valued at $102,212.40. This represents a 99.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 150,761 shares of company stock worth $125,713,484 over the last ninety days. Insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC raised its position in Netflix by 116,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after buying an additional 5,748,200 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Netflix by 154.7% in 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. State Street Corp raised its holdings in shares of Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after purchasing an additional 426,740 shares during the last quarter. Jennison Associates LLC lifted its position in Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares during the period. Finally, Westfield Capital Management Co. LP purchased a new stake in Netflix in the third quarter worth approximately $222,871,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

The business’s 50-day simple moving average is $866.57 and its 200 day simple moving average is $746.99. The firm has a market cap of $378.61 billion, a P/E ratio of 50.13, a P/E/G ratio of 1.77 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping the consensus estimate of $5.09 by $0.31. The firm had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. As a group, equities analysts predict that Netflix, Inc. will post 19.78 earnings per share for the current 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.