Netflix (NASDAQ:NFLX) Shares Up 1.4% on Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX) rose 1.4% during mid-day trading on Thursday after Seaport Res Ptn upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $868.98 and last traded at $860.49. Approximately 1,144,767 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 2,885,180 shares. The stock had previously closed at $848.26.

Several other research analysts have also recently commented on the stock. Canaccord Genuity Group upped their target price on shares of Netflix from $760.00 to $940.00 and gave the stock a “hold” rating in a research report on Monday, December 2nd. Wells Fargo & Company lifted their target price on Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Sanford C. Bernstein increased their price target on Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Oppenheimer decreased their price objective on shares of Netflix from $1,065.00 to $1,040.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, BMO Capital Markets upped their target price on Netflix from $825.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $845.06.

Insider Transactions at Netflix

In related news, Director Timothy M. Haley sold 11,090 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total transaction of $8,405,776.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard N. Barton sold 5,698 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $756.00, for a total transaction of $4,307,688.00. Following the completion of the transaction, the director now owns 246 shares of the company’s stock, valued at $185,976. This trade represents a 95.86 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 152,198 shares of company stock valued at $127,616,898. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in shares of Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after acquiring an additional 5,748,200 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Netflix by 154.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after acquiring an additional 642,920 shares during the last quarter. State Street Corp raised its holdings in Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares during the period. Jennison Associates LLC boosted its position in shares of Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after purchasing an additional 316,594 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in shares of Netflix in the 3rd quarter valued at $222,871,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Performance

The stock’s 50-day moving average is $883.32 and its 200 day moving average is $757.20. 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 firm has a market cap of $366.80 billion, a P/E ratio of 48.56, a PEG ratio of 1.35 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. On average, research analysts predict that Netflix, Inc. will post 19.78 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.