Netflix (NASDAQ:NFLX) Shares Up 1.1% on Analyst Upgrade

Shares of Netflix, Inc. (NASDAQ:NFLX) traded up 1.1% during trading on Thursday after Citigroup raised their price target on the stock from $725.00 to $920.00. Citigroup currently has a neutral rating on the stock. Netflix traded as high as $921.70 and last traded at $920.69. 667,827 shares were traded during trading, a decline of 82% from the average session volume of 3,633,309 shares. The stock had previously closed at $911.06.

Several other equities research analysts have also recently commented on NFLX. Wolfe Research reissued an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Morgan Stanley boosted their price objective on Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. TD Cowen raised their target price on Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Oppenheimer boosted their price target on shares of Netflix from $775.00 to $825.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and an average price target of $783.00.

Insiders Place Their Bets

In other Netflix news, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total transaction of $518,320.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $896.60, for a total value of $43,362,265.80. Following the completion of the transaction, the chairman now owns 114 shares in the company, valued at $102,212.40. The trade was a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 209,155 shares of company stock valued at $159,682,799 over the last quarter. Insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several hedge funds have recently modified their holdings of the business. RPg Family Wealth Advisory LLC acquired a new stake in Netflix in the 3rd quarter worth $25,000. Denver PWM LLC bought a new stake in shares of Netflix in the second quarter valued at about $25,000. Proffitt & Goodson Inc. grew its position in Netflix by 380.0% during the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after buying an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. increased its stake in Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after acquiring an additional 42 shares during the period. Finally, AlphaMark Advisors LLC raised its holdings in Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after acquiring an additional 45 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Netflix Price Performance

The company has a market cap of $399.56 billion, a P/E ratio of 52.90, a P/E/G ratio of 1.74 and a beta of 1.27. The stock has a 50-day simple moving average of $788.37 and a 200 day simple moving average of $707.66. 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 issued 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 during 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 analysts expect that Netflix, Inc. will post 19.78 EPS 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.