Netflix (NASDAQ:NFLX) Shares Up 1.4% Following Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX)’s share price rose 1.4% during trading on Thursday after BMO Capital Markets raised their price target on the stock from $825.00 to $1,000.00. BMO Capital Markets currently has an outperform rating on the stock. Netflix traded as high as $868.98 and last traded at $860.49. Approximately 1,144,767 shares traded hands during trading, a decline of 60% from the average daily volume of 2,885,180 shares. The stock had previously closed at $848.26.

A number of other equities research analysts have also recently commented on NFLX. Needham & Company LLC lifted their price target on shares of Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Citigroup lifted their price target on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Argus lifted their price target on shares of Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Loop Capital cut shares of Netflix from a “buy” rating to a “hold” rating and lifted their price target for the stock from $800.00 to $950.00 in a report on Monday, December 16th. Finally, Macquarie lifted their price target on shares of Netflix from $795.00 to $965.00 and gave the stock an “outperform” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $845.06.

Insiders Place Their Bets

In other news, CEO Theodore A. Sarandos sold 1,278 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $767.05, for a total transaction of $980,289.90. Following the completion of the transaction, the chief executive officer now directly owns 2,556 shares of the company’s stock, valued at approximately $1,960,579.80. This represents a 33.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Timothy M. Haley sold 11,090 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total transaction of $8,405,776.40. The disclosure for this sale can be found here. Insiders sold 152,198 shares of company stock valued at $127,616,898 over the last three months. Insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several hedge funds and other institutional investors have recently modified their holdings of NFLX. RPg Family Wealth Advisory LLC purchased a new position in shares of Netflix during the third quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. increased its position in shares of Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after buying an additional 42 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in shares of Netflix during the third quarter valued at about $37,000. FSA Wealth Management LLC purchased a new position in shares of Netflix during the third quarter valued at about $38,000. Finally, First Personal Financial Services purchased a new position in shares of Netflix during the third quarter valued at about $40,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

The company has a market cap of $360.08 billion, a PE ratio of 47.67, a PEG ratio of 1.35 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 firm’s 50-day moving average is $882.41 and its 200-day moving average is $756.61.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share 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%. On average, equities analysts anticipate 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.