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

Shares of Netflix, Inc. (NASDAQ:NFLX) were up 0.2% during mid-day trading on Friday after StockNews.com upgraded the stock from a hold rating to a buy rating. The company traded as high as $906.50 and last traded at $904.23. Approximately 1,272,112 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 3,599,040 shares. The stock had previously closed at $902.04.

Other equities research analysts have also issued research reports about the company. Wells Fargo & Company increased their target price on Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Morgan Stanley raised their price objective on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Bank of America raised their price objective on Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Piper Sandler restated an “overweight” rating and set a $840.00 price objective (up previously from $800.00) on shares of Netflix in a research note on Friday, October 18th. Finally, Citigroup raised their price objective on Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $807.70.

Insider Activity

In related news, Director Anne M. Sweeney sold 589 shares of Netflix stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Leslie J. Kilgore sold 402 shares of Netflix stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total value of $291,450.00. Following the completion of the transaction, the director now owns 35,262 shares in the company, valued at $25,564,950. The trade was a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 164,977 shares of company stock worth $129,317,467. 1.76% of the stock is owned by company insiders.

Hedge Funds Weigh In On Netflix

A number of hedge funds have recently modified their holdings of the stock. Advisory Resource Group boosted its position in shares of Netflix by 0.7% in the third quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network’s stock worth $1,238,000 after buying an additional 12 shares during the period. New World Advisors LLC boosted its position in shares of Netflix by 2.0% in the third quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock worth $514,000 after buying an additional 14 shares during the period. Heartland Bank & Trust Co boosted its position in shares of Netflix by 0.9% in the second quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock worth $1,195,000 after buying an additional 15 shares during the period. Cedrus LLC boosted its position in shares of Netflix by 0.8% in the third quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock worth $1,263,000 after buying an additional 15 shares during the period. Finally, Capstone Triton Financial Group LLC boosted its position in shares of Netflix by 0.6% in the third quarter. Capstone Triton Financial Group LLC now owns 2,421 shares of the Internet television network’s stock worth $1,717,000 after buying an additional 15 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Trading Up 0.8 %

The firm has a market cap of $388.58 billion, a price-to-earnings ratio of 51.45, a PEG ratio of 1.77 and a beta of 1.27. The company has a 50-day moving average price of $832.76 and a 200 day moving average price of $729.15. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping the consensus estimate of $5.09 by $0.31. The business had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. As a group, research analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current fiscal 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.