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

Netflix, Inc. (NASDAQ:NFLX)’s stock price shot up 0% during mid-day trading 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 $726.70 and last traded at $721.80. 589,127 shares traded hands during trading, a decline of 84% from the average session volume of 3,654,100 shares. The stock had previously closed at $721.76.

Several other equities analysts have also weighed in on NFLX. Sanford C. Bernstein raised their price objective on shares of Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. UBS Group raised their price target on shares of Netflix from $685.00 to $750.00 and gave the company a “buy” rating in a report on Friday, July 19th. Loop Capital upped their price objective on shares of Netflix from $700.00 to $750.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Evercore ISI increased their target price on shares of Netflix from $710.00 to $750.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 27th. Finally, Barclays reaffirmed an “underweight” rating and issued a $550.00 price target on shares of Netflix in a research report on Monday. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and an average price target of $694.71.

Insider Activity

In related news, Chairman Reed Hastings sold 25,599 shares of Netflix stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the completion of the transaction, the chairman now directly owns 57 shares of the company’s stock, valued at $35,991.51. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Gregory K. Peters sold 1,278 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total value of $785,254.32. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $8,043,019.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Reed Hastings sold 25,599 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the transaction, the chairman now owns 57 shares in the company, valued at approximately $35,991.51. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 224,784 shares of company stock worth $150,212,870. Corporate insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

A number of institutional investors have recently modified their holdings of the stock. Denver PWM LLC acquired a new stake in shares of Netflix in the second quarter valued at approximately $25,000. Valued Wealth Advisors LLC increased its stake 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 valued at $27,000 after buying an additional 20 shares during the period. Proffitt & Goodson Inc. raised its position in shares of Netflix by 380.0% during the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 38 shares during the last quarter. AlphaMark Advisors LLC lifted its stake in shares of Netflix by 642.9% during the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after acquiring an additional 45 shares during the period. Finally, Indiana Trust & Investment Management CO boosted its holdings in Netflix by 112.0% in the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 28 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Netflix Stock Performance

The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $311.10 billion, a price-to-earnings ratio of 50.09, a price-to-earnings-growth ratio of 1.44 and a beta of 1.26. The stock has a 50-day moving average of $680.33 and a 200 day moving average of $649.42.

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