Netflix (NASDAQ:NFLX) Trading Up 1.7% Following Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX)’s stock price traded up 1.7% during trading on Wednesday after BMO Capital Markets raised their price target on the stock from $825.00 to $1,000.00. BMO Capital Markets currently has an outperform rating on the stock. Netflix traded as high as $847.90 and last traded at $842.10. 840,781 shares were traded during trading, a decline of 70% from the average session volume of 2,819,810 shares. The stock had previously closed at $828.40.

NFLX has been the subject of several other reports. Bank of America increased their price objective on shares of Netflix from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a research report on Saturday, December 21st. Morgan Stanley upped their target price on shares of Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Piper Sandler raised their price objective on Netflix from $840.00 to $950.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, UBS Group lifted their target price on shares of Netflix from $825.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $845.06.

Insider Buying and Selling

In other Netflix news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the sale, the insider now owns 31,610 shares in the company, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard N. Barton sold 6,364 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the transaction, the director now directly owns 246 shares in the company, valued at approximately $216,327.48. This represents a 96.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 152,198 shares of company stock valued at $127,616,898. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

A number of hedge funds have recently made changes to their positions in the business. RPg Family Wealth Advisory LLC purchased a new position in shares of Netflix in the third quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. grew its stake in Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares during the period. MidAtlantic Capital Management Inc. purchased a new stake in shares of Netflix in the 3rd quarter worth about $37,000. FSA Wealth Management LLC bought a new position in shares of Netflix during the third quarter valued at approximately $38,000. Finally, First Personal Financial Services bought a new position in Netflix during the 3rd quarter valued at approximately $40,000. 80.93% of the stock is currently owned by institutional investors.

Netflix Trading Down 0.7 %

The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market cap of $360.08 billion, a PE ratio of 47.67, a price-to-earnings-growth ratio of 1.35 and a beta of 1.27. The firm has a 50-day moving average price of $882.41 and a 200-day moving average price of $756.61.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share 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%. As a group, equities analysts anticipate that Netflix, Inc. will post 19.78 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.