Netflix (NASDAQ:NFLX) Shares Up 0.7% After Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX) rose 0.7% on Wednesday after KeyCorp raised their price target on the stock from $735.00 to $760.00. KeyCorp currently has an overweight rating on the stock. Netflix traded as high as $716.21 and last traded at $711.12. Approximately 539,065 shares traded hands during trading, a decline of 85% from the average daily volume of 3,682,290 shares. The stock had previously closed at $706.13.

A number of other research firms have also recently weighed in on NFLX. Macquarie restated an “outperform” rating and issued a $685.00 price target on shares of Netflix in a research note on Tuesday, July 16th. Evercore ISI increased their price objective on shares of Netflix from $710.00 to $750.00 and gave the company an “outperform” rating in a research report on Tuesday, August 27th. Piper Sandler lifted their target price on shares of Netflix from $600.00 to $650.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. TD Cowen upped their price target on shares of Netflix from $725.00 to $775.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Finally, Needham & Company LLC restated a “buy” rating and set a $700.00 price objective on shares of Netflix in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, Netflix has a consensus rating of “Moderate Buy” and an average target price of $686.03.

Insiders Place Their Bets

In other Netflix news, insider David A. Hyman sold 20,656 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Gregory K. Peters sold 1,278 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total transaction of $785,254.32. Following the completion of the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $8,043,019.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 179,494 shares of company stock valued at $118,230,884. 1.76% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Denver PWM LLC acquired a new position in Netflix during the 2nd quarter worth approximately $25,000. Valued Wealth Advisors LLC raised its holdings in shares of Netflix by 80.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 20 shares during the last quarter. VitalStone Financial LLC lifted its position in Netflix by 933.3% in the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after acquiring an additional 56 shares in the last quarter. Beaird Harris Wealth Management LLC boosted its stake in Netflix by 1,550.0% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 62 shares during the last quarter. Finally, Scarborough Advisors LLC bought a new stake in Netflix during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Trading Up 0.7 %

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 firm has a 50 day moving average price of $672.13 and a 200 day moving average price of $646.29. The stock has a market capitalization of $306.49 billion, a PE ratio of 49.35, a P/E/G ratio of 1.44 and a beta of 1.26.

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