Netflix (NASDAQ:NFLX) Shares Up 1.5% Following Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX)’s stock price traded up 1.5% during mid-day trading on Wednesday after Loop Capital raised their price target on the stock from $700.00 to $750.00. Loop Capital currently has a buy rating on the stock. Netflix traded as high as $687.06 and last traded at $685.67. 2,943,775 shares changed hands during mid-day trading, an increase of 14% from the average session volume of 2,571,166 shares. The stock had previously closed at $675.83.

Other equities analysts have also issued research reports about the company. Guggenheim increased their target price on Netflix from $600.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. increased their target price on Netflix from $610.00 to $650.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. TD Cowen raised their price objective on Netflix from $600.00 to $725.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research note on Monday, February 26th. Finally, Piper Sandler raised their price objective on Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $633.53.

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 20,566 shares of Netflix stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the completion of the transaction, the chairman now owns 28 shares in the company, valued at approximately $17,091.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Netflix news, CEO Gregory K. Peters sold 4,783 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,835,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Reed Hastings sold 20,566 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the sale, the chairman now directly owns 28 shares in the company, valued at approximately $17,091.76. The disclosure for this sale can be found here. Insiders sold 69,425 shares of company stock valued at $41,919,791 in the last three months. Corporate insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Spartan Planning & Wealth Management purchased a new stake in shares of Netflix during the third quarter worth about $26,000. Valued Wealth Advisors LLC boosted its holdings in shares of Netflix by 80.0% during the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 20 shares during the period. VitalStone Financial LLC boosted its holdings in shares of Netflix by 933.3% during the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after purchasing an additional 56 shares during the period. Beaird Harris Wealth Management LLC boosted its holdings in shares of Netflix by 1,550.0% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 62 shares during the period. Finally, Scarborough Advisors LLC purchased a new stake in shares of Netflix during the fourth quarter worth about $32,000. Institutional investors own 80.93% of the company’s stock.

Netflix Trading Up 1.5 %

The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The stock’s fifty day moving average price is $619.18 and its two-hundred day moving average price is $573.44. The company has a market capitalization of $295.52 billion, a PE ratio of 47.58, a price-to-earnings-growth ratio of 1.46 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. During the same period last year, the business posted $2.88 earnings per share. Netflix’s quarterly revenue was up 14.8% compared to the same quarter last year. Sell-side analysts anticipate that Netflix, Inc. will post 18.31 earnings per share for the current 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.