Netflix (NASDAQ:NFLX) Shares Up 0.5% After Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX) shares were up 0.5% during mid-day trading on Friday after Pivotal Research raised their price target on the stock from $800.00 to $900.00. Pivotal Research currently has a buy rating on the stock. Netflix traded as high as $701.86 and last traded at $695.72. Approximately 841,624 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 3,814,407 shares. The stock had previously closed at $692.48.

Several other research firms also recently commented on NFLX. TD Cowen boosted their target price on shares of Netflix from $725.00 to $775.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Bank of America increased their price objective on Netflix from $700.00 to $740.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Macquarie restated an “outperform” rating and issued a $685.00 target price on shares of Netflix in a report on Tuesday, July 16th. CICC Research started coverage on Netflix in a report on Thursday, May 2nd. They set an “outperform” rating and a $650.00 price target for the company. Finally, UBS Group lifted their price objective on shares of Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, July 19th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and a consensus price target of $685.45.

Insider Activity

In other news, Chairman Reed Hastings sold 19,943 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $633.58, for a total transaction of $12,635,485.94. Following the sale, the chairman now directly owns 57 shares in the company, valued at $36,114.06. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Chairman Reed Hastings sold 19,943 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $633.58, for a total transaction of $12,635,485.94. Following the completion of the transaction, the chairman now directly owns 57 shares in the company, valued at approximately $36,114.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total transaction of $271,140.27. The disclosure for this sale can be found here. Over the last three months, insiders sold 152,700 shares of company stock worth $98,283,982. 1.76% of the stock is owned by corporate insiders.

Institutional Trading of Netflix

Several institutional investors and hedge funds have recently modified their holdings of NFLX. Malaga Cove Capital LLC increased its position in shares of Netflix by 25.4% in the fourth quarter. Malaga Cove Capital LLC now owns 1,562 shares of the Internet television network’s stock worth $761,000 after purchasing an additional 316 shares during the last quarter. Legacy Financial Advisors Inc. boosted its holdings in shares of Netflix by 8.1% in the 4th quarter. Legacy Financial Advisors Inc. now owns 3,793 shares of the Internet television network’s stock worth $1,847,000 after purchasing an additional 284 shares in the last quarter. Lincoln National Corp grew its position in Netflix by 4.9% during the fourth quarter. Lincoln National Corp now owns 8,115 shares of the Internet television network’s stock valued at $3,951,000 after acquiring an additional 379 shares during the last quarter. M&G Plc purchased a new stake in shares of Netflix in the 1st quarter valued at $9,682,000. Finally, BSN CAPITAL PARTNERS Ltd raised its position in Netflix by 24.4% in the 1st quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock worth $155,185,000 after purchasing an additional 49,000 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

The business’s 50-day moving average is $659.04 and its 200 day moving average is $629.28. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $302.28 billion, a PE ratio of 48.67, a PEG ratio of 1.28 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced 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 return on equity of 32.93% and a net margin of 19.54%. The business had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. During the same period in the previous year, the firm earned $3.29 EPS. The business’s quarterly revenue was up 16.8% on a year-over-year basis. On average, equities research analysts predict that Netflix, Inc. will post 19.08 EPS 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.