Netflix (NASDAQ:NFLX) Trading Up 0.4% After Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX) was up 0.4% during mid-day trading on Monday after Oppenheimer raised their price target on the stock from $825.00 to $1,065.00. Oppenheimer currently has an outperform rating on the stock. Netflix traded as high as $928.94 and last traded at $922.29. Approximately 563,104 shares changed hands during trading, a decline of 84% from the average daily volume of 3,610,821 shares. The stock had previously closed at $918.87.

A number of other equities analysts also recently issued reports on NFLX. Citigroup raised their price objective on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Sanford C. Bernstein raised their price objective on shares of Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Loop Capital downgraded shares of Netflix from a “buy” rating to a “hold” rating and raised their price objective for the stock from $800.00 to $950.00 in a report on Monday. Barclays reissued an “underweight” rating and issued a $550.00 price objective on shares of Netflix in a report on Friday, October 18th. Finally, Wedbush reissued an “outperform” rating and issued a $950.00 price objective (up previously from $800.00) on shares of Netflix in a report on Monday, November 18th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $801.18.

Insider Activity at Netflix

In other Netflix news, Director Timothy M. Haley sold 11,090 shares of Netflix stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total transaction of $8,405,776.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the transaction, the chairman now directly owns 114 shares of the company’s stock, valued at $102,212.40. The trade was a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 165,405 shares of company stock valued at $129,623,487. 1.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NFLX. State Street Corp boosted its stake in shares of Netflix by 2.6% during the third 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. Geode Capital Management LLC boosted its stake in shares of Netflix by 1.4% during the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after purchasing an additional 123,029 shares during the period. Jennison Associates LLC boosted its stake in shares of Netflix by 4.7% during the third 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. International Assets Investment Management LLC boosted its stake in shares of Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after purchasing an additional 5,748,200 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of Netflix by 0.5% during the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after purchasing an additional 23,702 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Price Performance

The stock has a market capitalization of $393.72 billion, a PE ratio of 52.13, a price-to-earnings-growth ratio of 1.80 and a beta of 1.27. 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’s 50 day moving average price is $818.41 and its 200-day moving average price is $722.22.

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