Netflix (NASDAQ:NFLX) Trading Up 0.2% Following Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX)’s share price was up 0.2% during mid-day trading on Tuesday after Argus raised their price target on the stock from $660.00 to $767.00. Argus currently has a buy rating on the stock. Netflix traded as high as $675.94 and last traded at $674.88. Approximately 341,853 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 3,948,947 shares. The stock had previously closed at $673.61.

Several other research firms also recently issued reports on NFLX. CICC Research assumed coverage on shares of Netflix in a research note on Thursday, May 2nd. They set an “outperform” rating and a $650.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and issued a $700.00 price target on shares of Netflix in a research report on Monday, June 17th. Morgan Stanley lifted their price objective on Netflix from $600.00 to $700.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Netflix from $525.00 to $550.00 and gave the company a “hold” rating in a research report on Monday, April 15th. Finally, Rosenblatt Securities boosted their price target on shares of Netflix from $540.00 to $554.00 and gave the stock a “neutral” rating in a research report on Friday, May 17th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $637.34.

Insiders Place Their Bets

In other news, CEO Gregory K. Peters sold 4,783 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $675.00, for a total value of $3,228,525.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $8,835,750. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Netflix news, Director Anne M. Sweeney sold 633 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total value of $354,480.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory K. Peters sold 4,783 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $675.00, for a total value of $3,228,525.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares in the company, valued at $8,835,750. The disclosure for this sale can be found here. Insiders have sold a total of 71,385 shares of company stock valued at $44,469,351 in the last 90 days. 1.76% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Netflix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Valued Wealth Advisors LLC increased 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 worth $27,000 after purchasing an additional 20 shares in the last quarter. Indiana Trust & Investment Management CO grew its position 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 purchasing an additional 28 shares in the last quarter. VitalStone Financial LLC raised its stake in shares of Netflix by 933.3% during the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after purchasing an additional 56 shares during the period. Scarborough Advisors LLC purchased a new stake in Netflix during the 4th quarter worth about $32,000. Finally, Beaird Harris Wealth Management LLC boosted its stake in Netflix by 1,550.0% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 62 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Netflix Stock Up 0.4 %

The firm has a market cap of $294.16 billion, a PE ratio of 47.18, a price-to-earnings-growth ratio of 1.46 and a beta of 1.27. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. The stock has a fifty day simple moving average of $633.35 and a two-hundred day simple moving average of $587.97.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. During the same quarter in the prior year, the firm posted $2.88 EPS. Netflix’s revenue was up 14.8% on a year-over-year basis. As a group, sell-side analysts expect that Netflix, Inc. will post 18.31 EPS 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.