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

Netflix, Inc. (NASDAQ:NFLX)’s stock price shot up 0.2% on Friday after Macquarie raised their price target on the stock from $695.00 to $795.00. Macquarie currently has an outperform rating on the stock. Netflix traded as high as $735.56 and last traded at $731.58. 479,584 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 3,640,552 shares. The stock had previously closed at $730.29.

Other equities research analysts have also recently issued research reports about the stock. Guggenheim raised their target price on shares of Netflix from $735.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday. Needham & Company LLC restated a “buy” rating and set a $700.00 target price on shares of Netflix in a research note on Friday, July 19th. JPMorgan Chase & Co. restated an “overweight” rating and set a $750.00 target price on shares of Netflix in a research note on Tuesday, October 8th. The Goldman Sachs Group raised their target price on shares of Netflix from $650.00 to $659.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Finally, Citigroup increased their price objective on shares of Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $702.79.

Insider Transactions at Netflix

In other news, Director Leslie J. Kilgore sold 383 shares of Netflix stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $730.00, for a total transaction of $279,590.00. Following the completion of the sale, the director now directly owns 35,262 shares in the company, valued at approximately $25,741,260. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Leslie J. Kilgore sold 402 shares of Netflix stock in a transaction dated 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 sale, the director now directly owns 35,262 shares in the company, valued at $25,564,950. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Leslie J. Kilgore sold 383 shares of Netflix stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the sale, the director now owns 35,262 shares of the company’s stock, valued at $25,741,260. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 225,167 shares of company stock worth $150,492,460. 1.76% of the stock is currently owned by insiders.

Institutional Trading of Netflix

Institutional investors and hedge funds have recently made changes to their positions in the company. Denver PWM LLC bought a new stake in shares of Netflix in the second quarter valued at about $25,000. Valued Wealth Advisors LLC raised its holdings in shares of Netflix by 80.0% in the first 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 in the last quarter. Scarborough Advisors LLC purchased a new position in Netflix in the fourth quarter valued at about $32,000. Indiana Trust & Investment Management CO grew its stake in Netflix by 112.0% in 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. Finally, Proffitt & Goodson Inc. grew its stake in Netflix by 380.0% in the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 38 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Netflix Price Performance

The firm has a 50 day simple moving average of $686.60 and a 200-day simple moving average of $651.33. 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 market cap of $311.52 billion, a PE ratio of 50.16, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26.

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