Netflix (NASDAQ:NFLX) Trading Up 0.1% Following Analyst Upgrade

Shares of Netflix, Inc. (NASDAQ:NFLX) were up 0.1% during mid-day trading on Wednesday 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 $890.33 and last traded at $872.15. Approximately 1,605,803 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 3,652,805 shares. The stock had previously closed at $871.32.

Other analysts have also recently issued reports about the stock. TD Cowen upped their price objective on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Guggenheim increased their price target on Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Benchmark reiterated a “sell” rating and issued a $545.00 price objective on shares of Netflix in a research report on Tuesday, October 15th. China Renaissance assumed coverage on Netflix in a report on Thursday, September 5th. They set a “hold” rating and a $680.00 target price on the stock. Finally, Wedbush restated an “outperform” rating and issued a $950.00 target price (up from $800.00) on shares of Netflix in a research note on Monday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus price target of $764.82.

Insider Buying and Selling

In other Netflix news, insider David A. Hyman sold 267 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was 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 $24,202,828.70. This represents a 0.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Anne M. Sweeney sold 589 shares of Netflix stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total transaction of $518,320.00. The disclosure for this sale can be found here. Insiders have sold a total of 185,866 shares of company stock worth $133,393,921 over the last ninety days. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Denver PWM LLC acquired a new stake in Netflix in the 2nd quarter valued at about $25,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Netflix in the third quarter valued at approximately $25,000. Proffitt & Goodson Inc. lifted its position in shares of 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 buying an additional 38 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after acquiring an additional 42 shares during the period. Finally, AlphaMark Advisors LLC increased its holdings in shares of Netflix by 642.9% during the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after acquiring an additional 45 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix Trading Up 1.4 %

The business has a 50 day moving average of $751.39 and a two-hundred day moving average of $688.25. The firm has a market cap of $383.03 billion, a P/E ratio of 50.71, a PEG ratio of 1.68 and a beta of 1.25. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. Analysts predict that Netflix, Inc. will post 19.78 earnings per share for the current 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.