Netflix (NASDAQ:NFLX) Trading 0.5% Higher on Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX)’s share price traded up 0.5% during mid-day trading on Monday after Argus raised their price target on the stock from $840.00 to $1,040.00. Argus currently has a buy rating on the stock. Netflix traded as high as $892.83 and last traded at $885.72. 1,018,376 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 2,042,210 shares. The stock had previously closed at $881.05.

Other analysts have also recently issued reports about the stock. Bank of America upped their price target on shares of Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. TD Cowen increased their target price on Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Citigroup lifted their price target on Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Needham & Company LLC increased their price objective on Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $821.27.

Insiders Place Their Bets

In related news, CEO Gregory K. Peters sold 4,186 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $750.00, for a total transaction of $3,139,500.00. Following the transaction, the chief executive officer now owns 13,090 shares in the company, valued at $9,817,500. The trade was a 24.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy M. Haley sold 11,090 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total value of $8,405,776.40. The disclosure for this sale can be found here. Insiders sold 150,761 shares of company stock valued at $125,713,484 over the last three months. Insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. DigitalBridge Group Inc. boosted its stake in shares of Netflix by 35.5% during the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after purchasing an additional 9,451 shares in the last quarter. Nordea Investment Management AB lifted its position in Netflix by 22.7% during the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after buying an additional 156,958 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Netflix by 1.2% during the third 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 acquiring an additional 29,726 shares in the last quarter. Natixis Advisors LLC boosted its position in shares of Netflix by 2.0% in the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock worth $434,398,000 after purchasing an additional 11,921 shares in the last quarter. Finally, M&T Bank Corp raised its stake in Netflix by 4.2% during the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after buying an additional 1,684 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Down 0.3 %

The firm has a market capitalization of $375.82 billion, a P/E ratio of 49.76, a P/E/G ratio of 1.77 and a beta of 1.27. The company has a fifty day simple moving average of $871.62 and a 200 day simple moving average of $749.78. The company has a quick ratio of 1.13, a current 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, topping analysts’ consensus estimates of $5.09 by $0.31. The company 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 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.