Netflix (NASDAQ:NFLX) Shares Up 2.8% After Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX)’s share price was up 2.8% during mid-day trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $850.00 to $1,010.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Netflix traded as high as $940.01 and last traded at $939.05. Approximately 998,812 shares were traded during trading, a decline of 72% from the average daily volume of 3,622,117 shares. The stock had previously closed at $913.35.

NFLX has been the topic of several other reports. Jefferies Financial Group raised their target price on shares of Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Pivotal Research raised their target price on shares of Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Wedbush reissued an “outperform” rating and issued a $950.00 target price (up from $800.00) on shares of Netflix in a research report on Monday, November 18th. Citigroup raised their target price on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Finally, TD Cowen raised their target price on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Two investment 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $787.85.

Insiders Place Their Bets

In other Netflix news, Director Anne M. Sweeney sold 589 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total transaction of $518,320.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Reed Hastings sold 45,290 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total value of $31,981,986.40. Following the sale, the chairman now owns 85 shares in the company, valued at approximately $60,023.60. The trade was a 99.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 165,405 shares of company stock worth $129,623,487. 1.76% of the stock is owned by corporate insiders.

Institutional Trading of Netflix

Several institutional investors and hedge funds have recently bought and sold shares of NFLX. International Assets Investment Management LLC raised its holdings in Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after buying an additional 5,748,200 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Netflix by 154.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after purchasing an additional 642,920 shares during the period. State Street Corp increased its holdings in shares of Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after purchasing an additional 426,740 shares during the period. Jennison Associates LLC increased its holdings in shares of Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares during the period. 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 2.5 %

The business has a fifty day moving average price of $801.16 and a two-hundred day moving average price of $714.44. The company has a market cap of $400.34 billion, a price-to-earnings ratio of 53.00, a P/E/G ratio of 1.80 and a beta of 1.27. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The business had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. On average, equities analysts predict 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.