Netflix (NASDAQ:NFLX) Trading 1.1% Higher on Analyst Upgrade

Shares of Netflix, Inc. (NASDAQ:NFLX) rose 1.1% during trading on Thursday after Citigroup raised their price target on the stock from $725.00 to $920.00. Citigroup currently has a neutral rating on the stock. Netflix traded as high as $921.70 and last traded at $920.69. Approximately 667,827 shares were traded during trading, a decline of 82% from the average daily volume of 3,633,309 shares. The stock had previously closed at $911.06.

Several other research analysts have also commented on NFLX. Wells Fargo & Company lifted their price target on Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Piper Sandler reiterated an “overweight” rating and issued a $840.00 target price (up previously from $800.00) on shares of Netflix in a report on Friday, October 18th. Jefferies Financial Group increased their price target on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. Morgan Stanley lifted their price objective on shares of Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Finally, Rosenblatt Securities increased their target price on shares of Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $783.00.

Insider Activity

In related news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Anne M. Sweeney sold 589 shares of Netflix stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The disclosure for this sale can be found here. Insiders have sold a total of 209,155 shares of company stock worth $159,682,799 over the last 90 days. 1.76% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Netflix

Several hedge funds and other institutional investors have recently bought and sold shares of the business. DigitalBridge Group Inc. increased its stake in shares of Netflix by 35.5% in the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after acquiring an additional 9,451 shares during the period. Charles Schwab Investment Management Inc. grew its position in Netflix by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock worth $1,829,494,000 after purchasing an additional 29,726 shares during the period. Natixis Advisors LLC raised its stake in shares of Netflix by 2.0% during the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock valued at $434,398,000 after buying an additional 11,921 shares during the last quarter. Kestra Investment Management LLC purchased a new position in shares of Netflix during the 3rd quarter valued at about $1,517,000. Finally, Westfield Capital Management Co. LP acquired a new position in shares of Netflix in the 3rd quarter valued at about $222,871,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Up 0.7 %

The business has a 50 day moving average price of $788.37 and a 200 day moving average price of $707.66. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock has a market cap of $392.35 billion, a PE ratio of 51.95, a P/E/G ratio of 1.74 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The business had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. Equities research analysts expect that Netflix, Inc. will post 19.78 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.