Netflix (NASDAQ:NFLX) Trading 0.1% Higher on Analyst Upgrade

Shares of Netflix, Inc. (NASDAQ:NFLX) were up 0.1% during trading on Friday 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 $922.36 and last traded at $919.03. Approximately 517,954 shares changed hands during trading, a decline of 86% from the average daily volume of 3,629,755 shares. The stock had previously closed at $917.87.

Several other research firms have also recently weighed in on NFLX. Wedbush restated an “outperform” rating and issued a $950.00 price objective (up previously from $800.00) on shares of Netflix in a research report on Monday, November 18th. Canaccord Genuity Group upped their target price on shares of Netflix from $760.00 to $940.00 and gave the stock a “hold” rating in a research report on Monday, December 2nd. Sanford C. Bernstein upped their target price on shares of Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Wolfe Research reiterated an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. Finally, Guggenheim upped their target price on shares of Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus price target of $783.00.

Insider Buying and Selling

In other Netflix news, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the sale, the chairman now directly owns 114 shares in the company, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David A. Hyman sold 267 shares of Netflix stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at $24,202,828.70. The trade was a 0.84 % decrease in their ownership of the stock. 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 ninety days. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oddo BHF Asset Management Sas acquired a new stake in Netflix in the 3rd quarter valued at $21,594,000. American Trust bought a new position in shares of Netflix in the 3rd quarter valued at about $323,000. Old North State Trust LLC grew its position in shares of Netflix by 3.2% in the 3rd quarter. Old North State Trust LLC now owns 699 shares of the Internet television network’s stock valued at $496,000 after acquiring an additional 22 shares during the period. Franklin Resources Inc. grew its position in shares of Netflix by 11.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,236,539 shares of the Internet television network’s stock valued at $881,652,000 after acquiring an additional 127,541 shares during the period. Finally, Synovus Financial Corp grew its position in shares of Netflix by 43.9% in the 3rd quarter. Synovus Financial Corp now owns 12,667 shares of the Internet television network’s stock valued at $8,984,000 after acquiring an additional 3,864 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Trading Up 1.8 %

The business’s 50-day moving average price is $788.37 and its 200 day moving average price is $707.66. The company has a market cap of $399.56 billion, a P/E ratio of 52.90, a P/E/G ratio of 1.74 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13.

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