Netflix (NASDAQ:NFLX) Sets New 1-Year High Following Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX)’s stock price hit a new 52-week high on Wednesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $590.00 to $650.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Netflix traded as high as $726.53 and last traded at $725.57, with a volume of 57833 shares. The stock had previously closed at $721.76.

A number of other brokerages have also weighed in on NFLX. Argus increased their target price on shares of Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Redburn Atlantic raised their price objective on shares of Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Barclays reissued an “underweight” rating and set a $550.00 target price on shares of Netflix in a report on Monday. Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 price target on shares of Netflix in a report on Friday, July 19th. Finally, Guggenheim lifted their price target on Netflix from $700.00 to $735.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $694.71.

Insiders Place Their Bets

In related news, Director Leslie J. Kilgore sold 402 shares of Netflix stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total transaction of $291,450.00. Following the sale, the director now directly owns 35,262 shares in the company, valued at $25,564,950. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Netflix news, Director Leslie J. Kilgore sold 402 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total transaction of $291,450.00. Following the completion of the transaction, the director now owns 35,262 shares of the company’s stock, valued at approximately $25,564,950. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David A. Hyman sold 20,656 shares of Netflix 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 transaction, the insider now owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 224,784 shares of company stock worth $150,212,870 over the last three months. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Institutional investors have recently made changes to their positions in the company. Guardian Asset Advisors LLC boosted its position in shares of Netflix by 2.3% during the third quarter. Guardian Asset Advisors LLC now owns 876 shares of the Internet television network’s stock valued at $621,000 after buying an additional 20 shares during the last quarter. Cypress Wealth Services LLC lifted its stake in Netflix by 13.8% during the 3rd quarter. Cypress Wealth Services LLC now owns 736 shares of the Internet television network’s stock valued at $522,000 after acquiring an additional 89 shares during the period. USA Financial Formulas boosted its holdings in shares of Netflix by 27.6% during the 3rd quarter. USA Financial Formulas now owns 1,937 shares of the Internet television network’s stock valued at $1,374,000 after acquiring an additional 419 shares during the last quarter. Patten Group Inc. grew its stake in shares of Netflix by 42.4% in the third quarter. Patten Group Inc. now owns 857 shares of the Internet television network’s stock worth $608,000 after acquiring an additional 255 shares during the period. Finally, Wedmont Private Capital grew its stake in shares of Netflix by 10.2% in the third quarter. Wedmont Private Capital now owns 9,094 shares of the Internet television network’s stock worth $6,383,000 after acquiring an additional 843 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

The stock has a market capitalization of $310.78 billion, a PE ratio of 50.09, a PEG ratio of 1.44 and a beta of 1.26. The firm’s fifty day moving average price is $680.33 and its two-hundred day moving average price is $649.42. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $9.53 billion. During the same quarter in the prior year, the business earned $3.29 EPS. The business’s quarterly revenue was up 16.8% on a year-over-year basis. On average, equities analysts predict that Netflix, Inc. will post 19.08 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.