Netflix (NASDAQ:NFLX) Trading Up 0% After Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX)’s share price traded up 0% on Wednesday 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 $682.62 and last traded at $679.89. 343,001 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 3,936,849 shares. The stock had previously closed at $679.58.

Several other equities research analysts have also weighed in on the company. JPMorgan Chase & Co. raised their target price on Netflix from $610.00 to $650.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Deutsche Bank Aktiengesellschaft raised their target price on Netflix from $525.00 to $550.00 and gave the stock a “hold” rating in a research report on Monday, April 15th. Pivotal Research raised their target price on Netflix from $765.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Morgan Stanley raised their target price on Netflix from $600.00 to $700.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Finally, Needham & Company LLC reissued a “buy” rating and set a $700.00 target price on shares of Netflix in a research report on Monday, June 17th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $637.34.

Insider Activity

In other news, CFO Spencer Adam Neumann sold 564 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $613.08, for a total value of $345,777.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Spencer Adam Neumann sold 564 shares of Netflix stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $613.08, for a total transaction of $345,777.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anne M. Sweeney sold 633 shares of Netflix stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total value of $354,480.00. The disclosure for this sale can be found here. Insiders sold 71,385 shares of company stock valued at $44,469,351 in the last three months. 1.76% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Netflix

Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. raised its holdings in shares of Netflix by 1.9% in the third quarter. Advisors Asset Management Inc. now owns 5,915 shares of the Internet television network’s stock worth $2,234,000 after acquiring an additional 108 shares during the last quarter. Seven Eight Capital LP acquired a new position in shares of Netflix in the third quarter worth $711,000. Royal London Asset Management Ltd. raised its holdings in shares of Netflix by 8.0% in the third quarter. Royal London Asset Management Ltd. now owns 242,698 shares of the Internet television network’s stock worth $91,617,000 after acquiring an additional 18,013 shares during the last quarter. KB Financial Partners LLC raised its holdings in shares of Netflix by 61.2% in the third quarter. KB Financial Partners LLC now owns 158 shares of the Internet television network’s stock worth $60,000 after acquiring an additional 60 shares during the last quarter. Finally, Annandale Capital LLC raised its holdings in shares of Netflix by 9.8% in the third quarter. Annandale Capital LLC now owns 13,328 shares of the Internet television network’s stock worth $5,033,000 after acquiring an additional 1,194 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Performance

The company has a market capitalization of $294.16 billion, a price-to-earnings ratio of 47.18, a PEG ratio of 1.46 and a beta of 1.27. The stock has a fifty day moving average price of $633.35 and a two-hundred day moving average price of $587.97. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.88 earnings per share. As a group, analysts forecast that Netflix, Inc. will post 18.31 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.