Netflix (NASDAQ:NFLX) Trading Up 0.2% on Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX) traded up 0.2% during mid-day trading on Tuesday after Argus raised their price target on the stock from $660.00 to $767.00. Argus currently has a buy rating on the stock. Netflix traded as high as $675.94 and last traded at $674.88. 341,853 shares were traded during trading, a decline of 91% from the average session volume of 3,948,947 shares. The stock had previously closed at $673.61.

NFLX has been the topic of a number of other research reports. TD Cowen lifted their target price on shares of Netflix from $600.00 to $725.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Wells Fargo & Company lifted their target price on shares of Netflix from $650.00 to $726.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Macquarie lifted their target price on shares of Netflix from $595.00 to $685.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 16th. Oppenheimer reiterated an “outperform” rating and issued a $725.00 target price on shares of Netflix in a research report on Friday, April 19th. Finally, Pivotal Research lifted their target price on shares of Netflix from $765.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $637.34.

Insider Transactions at Netflix

In other news, Chairman Reed Hastings sold 18,361 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $551.54, for a total value 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 legal filing with the SEC, which is available at this link. In related news, Chairman Reed Hastings sold 18,361 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were 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 legal filing with the SEC, which can be accessed through the SEC website. Also, Director Anne M. Sweeney sold 3,029 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $580.00, for a total transaction of $1,756,820.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,385 shares of company stock worth $44,469,351. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NFLX. Norges Bank purchased a new stake in Netflix during the fourth quarter valued at approximately $2,558,598,000. Wellington Management Group LLP increased its holdings in Netflix by 540.9% during the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock valued at $1,888,503,000 after buying an additional 3,273,592 shares during the last quarter. GQG Partners LLC purchased a new stake in Netflix during the first quarter valued at approximately $1,450,476,000. International Assets Investment Management LLC increased its holdings in Netflix by 15,039.1% during the fourth quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock valued at $1,010,553,000 after buying an additional 2,061,859 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in shares of Netflix by 40.6% in the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after purchasing an additional 1,573,978 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Trading Up 0.9 %

The stock’s 50 day moving average price is $631.31 and its 200-day moving average price is $586.51. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $292.90 billion, a PE ratio of 47.16, a PEG ratio of 1.46 and a beta of 1.27.

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