Netflix (NASDAQ:NFLX) Stock Price Up 0% Following Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX) was up 0% on Wednesday 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 $682.62 and last traded at $679.89. Approximately 343,001 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 3,936,849 shares. The stock had previously closed at $679.58.

Several other analysts have also recently commented on NFLX. Piper Sandler upped their target price on Netflix from $550.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, April 12th. JPMorgan Chase & Co. increased their price objective on shares of Netflix from $610.00 to $650.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. KeyCorp lifted their target price on shares of Netflix from $705.00 to $707.00 and gave the stock an “overweight” rating in a research note on Thursday, June 13th. Barclays upped their price target on shares of Netflix from $475.00 to $550.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Finally, Benchmark lifted their price objective on Netflix from $440.00 to $450.00 and gave the stock a “sell” rating in a research report on Friday, May 17th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and an average target price of $637.34.

Insider Activity

In other news, CFO Spencer Adam Neumann sold 564 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $613.08, for a total value of $345,777.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Spencer Adam Neumann sold 564 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $613.08, for a total transaction of $345,777.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anne M. Sweeney sold 633 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total transaction of $354,480.00. The disclosure for this sale can be found here. Insiders have sold a total of 71,385 shares of company stock valued at $44,469,351 over the last quarter. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Large investors have recently added to or reduced their stakes in the business. Valued Wealth Advisors LLC boosted its position in shares of Netflix by 80.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 20 shares during the last quarter. Indiana Trust & Investment Management CO lifted its position in Netflix by 112.0% during the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 28 shares during the last quarter. VitalStone Financial LLC grew its stake in Netflix by 933.3% in the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after buying an additional 56 shares in the last quarter. Scarborough Advisors LLC bought a new position in shares of Netflix in the 4th quarter worth $32,000. Finally, Beaird Harris Wealth Management LLC raised its position in shares of Netflix by 1,550.0% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after buying an additional 62 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

The company’s 50-day moving average price is $635.90 and its two-hundred day moving average price is $588.63. The stock has a market cap of $294.16 billion, a PE ratio of 47.36, a PEG ratio of 1.47 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data 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. The company had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. Netflix’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the firm posted $2.88 EPS. On average, equities research analysts forecast that Netflix, Inc. will post 18.31 EPS for the current 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.