Netflix (NASDAQ:NFLX) Stock Price Up 2.2% After Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX)’s share price traded up 2.2% on Monday after Bank of America raised their price target on the stock from $700.00 to $740.00. Bank of America currently has a buy rating on the stock. Netflix traded as high as $664.46 and last traded at $662.08. 1,123,964 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 3,883,201 shares. The stock had previously closed at $647.60.

NFLX has been the topic of several other research reports. Loop Capital raised their price objective on Netflix from $700.00 to $750.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. KeyCorp raised their price target on Netflix from $707.00 to $735.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Jefferies Financial Group reissued a “buy” rating and set a $655.00 price target on shares of Netflix in a report on Wednesday, May 15th. Morgan Stanley raised their price target on Netflix from $700.00 to $780.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Wells Fargo & Company raised their price target on Netflix from $650.00 to $726.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $645.86.

Insider Activity at Netflix

In related news, CEO Gregory K. Peters sold 4,783 shares of the firm’s stock in a transaction that occurred 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 sale, 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 Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Gregory K. Peters sold 4,783 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $8,835,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Reed Hastings sold 18,361 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $551.54, for a total value of $10,126,825.94. Following the sale, the chairman now directly owns 28 shares of the company’s stock, valued at approximately $15,443.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,385 shares of company stock worth $44,469,351. 1.76% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Columbia Trust Co 01012016 raised its holdings in Netflix by 15.3% in the fourth quarter. Columbia Trust Co 01012016 now owns 1,566 shares of the Internet television network’s stock valued at $762,000 after buying an additional 208 shares during the period. Crumly & Associates Inc. raised its stake in shares of Netflix by 4.1% during the fourth quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network’s stock valued at $1,025,000 after purchasing an additional 83 shares during the period. Venture Visionary Partners LLC raised its stake in shares of Netflix by 15.4% during the fourth quarter. Venture Visionary Partners LLC now owns 9,849 shares of the Internet television network’s stock valued at $4,795,000 after purchasing an additional 1,318 shares during the period. Sandy Cove Advisors LLC raised its stake in shares of Netflix by 10.6% during the fourth quarter. Sandy Cove Advisors LLC now owns 1,187 shares of the Internet television network’s stock valued at $578,000 after purchasing an additional 114 shares during the period. Finally, Malaga Cove Capital LLC raised its stake in shares of Netflix by 25.4% during the fourth quarter. Malaga Cove Capital LLC now owns 1,562 shares of the Internet television network’s stock valued at $761,000 after purchasing an additional 316 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

The company has a market cap of $287.47 billion, a PE ratio of 45.95, a price-to-earnings-growth ratio of 1.40 and a beta of 1.27. The business’s 50 day moving average price is $651.70 and its 200-day moving average price is $598.44. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

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