Netflix (NASDAQ:NFLX) Shares Up 0.4% Following Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX) was up 0.4% during trading on Tuesday after Loop Capital raised their price target on the stock from $700.00 to $750.00. Loop Capital currently has a buy rating on the stock. Netflix traded as high as $681.63 and last traded at $678.78. Approximately 734,038 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 4,017,485 shares. The stock had previously closed at $675.83.

A number of other equities research analysts have also recently issued reports on the company. Guggenheim upped their target price on Netflix from $600.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Canaccord Genuity Group reissued a “hold” rating and issued a $585.00 price objective (down from $720.00) on shares of Netflix in a research report on Friday, April 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 target price on shares of Netflix in a research report on Monday. Rosenblatt Securities raised their target price on Netflix from $540.00 to $554.00 and gave the stock a “neutral” rating in a research report on Friday, May 17th. Finally, Wedbush reiterated an “outperform” rating and set a $725.00 price objective on shares of Netflix in a research note on Monday, May 20th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and a consensus target price of $633.53.

Insiders Place Their Bets

In other Netflix news, Chairman Reed Hastings sold 18,361 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $551.54, for a total transaction of $10,126,825.94. Following the transaction, the chairman now owns 28 shares in the company, valued at $15,443.12. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Chairman Reed Hastings sold 18,361 shares of Netflix stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $551.54, for a total transaction of $10,126,825.94. Following the transaction, the chairman now owns 28 shares in the company, valued at approximately $15,443.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory K. Peters sold 4,783 shares of Netflix stock in a transaction dated 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 transaction, the chief executive officer now owns 13,090 shares in the company, valued at approximately $8,835,750. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,425 shares of company stock worth $41,919,791. Insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several institutional investors have recently modified their holdings of NFLX. Columbia Trust Co 01012016 increased its position in shares of Netflix by 15.3% during the 4th quarter. Columbia Trust Co 01012016 now owns 1,566 shares of the Internet television network’s stock worth $762,000 after purchasing an additional 208 shares during the last quarter. Crumly & Associates Inc. lifted its position in shares of Netflix by 4.1% during the 4th quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network’s stock valued at $1,025,000 after acquiring an additional 83 shares during the period. Venture Visionary Partners LLC lifted its position in shares of Netflix by 15.4% during the 4th quarter. Venture Visionary Partners LLC now owns 9,849 shares of the Internet television network’s stock valued at $4,795,000 after acquiring an additional 1,318 shares during the period. Sandy Cove Advisors LLC lifted its position in shares of Netflix by 10.6% during the 4th quarter. Sandy Cove Advisors LLC now owns 1,187 shares of the Internet television network’s stock valued at $578,000 after acquiring an additional 114 shares during the period. Finally, Malaga Cove Capital LLC lifted its position in shares of Netflix by 25.4% during the 4th quarter. Malaga Cove Capital LLC now owns 1,562 shares of the Internet television network’s stock valued at $761,000 after acquiring an additional 316 shares during the period. Institutional investors own 80.93% of the company’s stock.

Netflix Trading Up 1.5 %

The business has a 50-day moving average price of $617.83 and a two-hundred day moving average price of $572.64. The stock has a market capitalization of $295.52 billion, a P/E ratio of 47.58, a P/E/G ratio of 1.45 and a beta of 1.26. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The firm had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. During the same period in the prior year, the company posted $2.88 EPS. The company’s revenue was up 14.8% compared to the same quarter last year. On average, analysts expect that Netflix, Inc. will post 18.31 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.