Netflix (NASDAQ:NFLX) Trading 0% Higher Following Analyst Upgrade

Shares of Netflix, Inc. (NASDAQ:NFLX) traded up 0% during trading on Wednesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $590.00 to $650.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Netflix traded as high as $726.70 and last traded at $721.80. 589,127 shares were traded during mid-day trading, a decline of 84% from the average session volume of 3,654,100 shares. The stock had previously closed at $721.76.

Several other equities analysts have also issued reports on NFLX. Morgan Stanley boosted their price target on shares of Netflix from $700.00 to $780.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Evercore ISI lifted their price target on shares of Netflix from $710.00 to $750.00 and gave the company an “outperform” rating in a research note on Tuesday, August 27th. Piper Sandler raised shares of Netflix from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $650.00 to $800.00 in a research report on Monday. Benchmark lifted their price target on Netflix from $450.00 to $545.00 and gave the company a “sell” rating in a research note on Tuesday, July 16th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $635.00 price objective on shares of Netflix in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $694.71.

Insiders Place Their Bets

In other Netflix news, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Netflix news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the transaction, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory K. Peters sold 1,278 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total value of $785,254.32. Following the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,043,019.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 224,784 shares of company stock worth $150,212,870 in the last 90 days. Company insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NFLX. Wellington Management Group LLP raised its position in Netflix by 540.9% in 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 purchasing an additional 3,273,592 shares during the last quarter. GQG Partners LLC bought a new position in Netflix during the first quarter worth $1,450,476,000. Jennison Associates LLC lifted its holdings in Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after buying an additional 929,193 shares during the period. Global Assets Advisory LLC bought a new stake in Netflix during the first quarter valued at $436,514,000. Finally, Jericho Capital Asset Management L.P. acquired a new position in shares of Netflix in the 1st quarter valued at about $372,293,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Performance

The stock has a market capitalization of $311.10 billion, a price-to-earnings ratio of 50.09, a price-to-earnings-growth ratio of 1.44 and a beta of 1.26. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. The company has a 50 day simple moving average of $680.33 and a 200-day simple moving average of $649.42.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The business had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. During the same period last year, the company posted $3.29 earnings per share. The business’s quarterly revenue was up 16.8% on a year-over-year basis. As a group, equities research analysts expect that Netflix, Inc. will post 19.08 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.