Netflix (NASDAQ:NFLX) Stock Price Up 1.7% on Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX) rose 1.7% during mid-day trading on Thursday after UBS Group raised their price target on the stock from $825.00 to $1,040.00. UBS Group currently has a buy rating on the stock. Netflix traded as high as $912.62 and last traded at $905.04. Approximately 829,008 shares traded hands during trading, a decline of 77% from the average daily volume of 3,600,280 shares. The stock had previously closed at $889.55.

NFLX has been the subject of a number of other research reports. Guggenheim boosted their price objective on shares of Netflix from $810.00 to $825.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. China Renaissance started coverage on Netflix in a report on Thursday, September 5th. They set a “hold” rating and a $680.00 price target for the company. The Goldman Sachs Group set a $750.00 price objective on Netflix in a research note on Friday, October 18th. Morgan Stanley boosted their price objective on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Finally, Evercore ISI increased their target price on shares of Netflix from $775.00 to $950.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $807.70.

Insider Transactions at Netflix

In other news, Director Timothy M. Haley sold 11,090 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total value of $8,405,776.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $102,212.40. This represents a 99.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 164,977 shares of company stock worth $129,317,467 in the last three months. Insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

A number of institutional investors have recently bought and sold shares of NFLX. Atlantic Union Bankshares Corp bought a new stake in Netflix in the second quarter worth about $203,000. Fullcircle Wealth LLC purchased a new position in Netflix during the 2nd quarter valued at $342,000. Levy Wealth Management Group LLC bought a new position in Netflix in the 2nd quarter valued at $201,000. Clear Creek Financial Management LLC grew its position in Netflix by 3.9% in the 2nd quarter. Clear Creek Financial Management LLC now owns 742 shares of the Internet television network’s stock valued at $501,000 after acquiring an additional 28 shares during the last quarter. Finally, Optas LLC increased its stake in Netflix by 6.5% in the second quarter. Optas LLC now owns 1,434 shares of the Internet television network’s stock worth $968,000 after purchasing an additional 88 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Netflix Stock Performance

The firm has a 50-day moving average price of $832.76 and a two-hundred day moving average price of $728.47. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market capitalization of $388.58 billion, a P/E ratio of 51.45, a P/E/G ratio of 1.77 and a beta of 1.27.

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