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

Shares of Netflix, Inc. (NASDAQ:NFLX) shot up 0.2% on Tuesday after Argus raised their price target on the stock from $660.00 to $767.00. Argus currently has a buy rating on the stock. Netflix traded as high as $675.94 and last traded at $674.88. 341,853 shares were traded during mid-day trading, a decline of 91% from the average session volume of 3,948,947 shares. The stock had previously closed at $673.61.

Other equities research analysts have also issued reports about the company. Benchmark increased their price target on Netflix from $440.00 to $450.00 and gave the stock a “sell” rating in a research report on Friday, May 17th. Piper Sandler increased their price target on Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Macquarie upped their price objective on Netflix from $595.00 to $685.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. Jefferies Financial Group reaffirmed a “buy” rating and set a $655.00 price objective on shares of Netflix in a report on Wednesday, May 15th. Finally, Wedbush reaffirmed an “outperform” rating and set a $725.00 price objective on shares of Netflix in a report on Monday, May 20th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $637.34.

Insiders Place Their Bets

In other news, CEO Gregory K. Peters sold 4,783 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $675.00, for a total value of $3,228,525.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares in the company, valued at approximately $8,835,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Reed Hastings sold 22,526 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total value of $15,103,457.74. Following the completion of the sale, the chairman now directly owns 57 shares in the company, valued at approximately $38,217.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory K. Peters sold 4,783 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $8,835,750. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,385 shares of company stock worth $44,469,351. Corporate insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Hedge funds have recently bought and sold shares of the company. Columbia Trust Co 01012016 lifted its stake in Netflix by 15.3% in the 4th quarter. Columbia Trust Co 01012016 now owns 1,566 shares of the Internet television network’s stock valued at $762,000 after purchasing an additional 208 shares during the last quarter. Crumly & Associates Inc. lifted its position in Netflix by 4.1% during the fourth quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network’s stock worth $1,025,000 after acquiring an additional 83 shares during the last quarter. Venture Visionary Partners LLC lifted its position in Netflix by 15.4% during the fourth quarter. Venture Visionary Partners LLC now owns 9,849 shares of the Internet television network’s stock worth $4,795,000 after acquiring an additional 1,318 shares during the last quarter. Sandy Cove Advisors LLC lifted its position in Netflix by 10.6% during the fourth quarter. Sandy Cove Advisors LLC now owns 1,187 shares of the Internet television network’s stock worth $578,000 after acquiring an additional 114 shares during the last quarter. Finally, Malaga Cove Capital LLC lifted its position in Netflix by 25.4% during the fourth quarter. Malaga Cove Capital LLC now owns 1,562 shares of the Internet television network’s stock worth $761,000 after acquiring an additional 316 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Price Performance

The company’s 50-day simple moving average is $631.31 and its 200-day simple moving average is $586.51. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $292.90 billion, a price-to-earnings ratio of 47.16, a P/E/G ratio of 1.46 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (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 firm had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. During the same period last year, the business posted $2.88 earnings per share. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. Research analysts forecast that Netflix, Inc. will post 18.31 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.