Netflix (NASDAQ:NFLX) Stock Price Up 0.6% on Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX) rose 0.6% during mid-day trading on Thursday after Bank of America raised their price target on the stock from $800.00 to $1,000.00. Bank of America currently has a buy rating on the stock. Netflix traded as high as $894.77 and last traded at $888.84. Approximately 1,239,057 shares traded hands during trading, a decline of 66% from the average daily volume of 3,653,134 shares. The stock had previously closed at $883.85.

A number of other equities research analysts have also recently issued reports on the company. BMO Capital Markets restated an “outperform” rating and set a $825.00 price objective (up previously from $770.00) on shares of Netflix in a report on Friday, October 18th. Barclays restated an “underweight” rating and issued a $550.00 price target on shares of Netflix in a research note on Friday, October 18th. JPMorgan Chase & Co. increased their price objective on Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Needham & Company LLC boosted their target price on shares of Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $764.82.

Insider Buying and Selling

In other news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jay C. Hoag sold 43,750 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $687.07, for a total value of $30,059,312.50. Following the completion of the sale, the director now owns 95,040 shares of the company’s stock, valued at $65,299,132.80. The trade was a 31.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 185,866 shares of company stock worth $133,393,921 in the last 90 days. Insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

A number of institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC boosted its position in Netflix by 116,620.0% during the third 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. grew its stake in Netflix by 154.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after purchasing an additional 642,920 shares during the period. Jericho Capital Asset Management L.P. acquired a new position in Netflix in the first quarter valued at approximately $372,293,000. State Street Corp boosted its holdings in shares of Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after buying an additional 426,740 shares in the last quarter. Finally, Swedbank AB acquired a new stake in shares of Netflix during the 1st quarter worth approximately $216,538,000. 80.93% of the stock is owned by institutional investors.

Netflix Stock Up 0.0 %

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’s 50 day moving average price is $755.40 and its two-hundred day moving average price is $690.34. The company has a market cap of $383.77 billion, a P/E ratio of 50.81, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating the consensus estimate 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. Equities research analysts anticipate that Netflix, Inc. will post 19.78 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.