Netflix (NASDAQ:NFLX) Shares Up 0.1% on Analyst Upgrade

by · The Markets Daily

Netflix, Inc. (NASDAQ:NFLX – Get Free Report)’s share price traded up 0.1% during trading on Wednesday after Pivotal Research raised their price target on the stock from $925.00 to $1,100.00. Pivotal Research currently has a buy rating on the stock. Netflix traded as high as $890.33 and last traded at $872.15. 1,605,803 shares changed hands during trading, a decline of 56% from the average session volume of 3,652,805 shares. The stock had previously closed at $871.32.

Other equities research analysts have also recently issued research reports about the company. Loop Capital boosted their target price on Netflix from $750.00 to $800.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. UBS Group boosted their target price on shares of Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Bank of America raised their target price on shares of Netflix from $740.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Wedbush reiterated an “outperform” rating and set a $950.00 price objective (up previously from $800.00) on shares of Netflix in a research report on Monday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $758.76.

Read Our Latest Stock Report on NFLX

Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 45,290 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total value of $31,981,986.40. Following the completion of the transaction, the chairman now directly owns 85 shares in the company, valued at $60,023.60. The trade was a 99.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy M. Haley sold 647 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $800.19, for a total value of $517,722.93. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 185,277 shares of company stock worth $132,875,601. Company insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

A number of hedge funds have recently bought and sold shares of NFLX. New World Advisors LLC raised its stake in Netflix by 2.0% during the 3rd quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock valued at $514,000 after purchasing an additional 14 shares during the period. Heartland Bank & Trust Co boosted its stake in shares of Netflix by 0.9% during the second quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock valued at $1,195,000 after purchasing an additional 15 shares in the last quarter. Cedrus LLC grew its position in shares of Netflix by 0.8% in the 3rd quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock worth $1,263,000 after buying an additional 15 shares during the last quarter. Capstone Triton Financial Group LLC raised its position in shares of Netflix by 0.6% in the 3rd quarter. Capstone Triton Financial Group LLC now owns 2,421 shares of the Internet television network’s stock valued at $1,717,000 after purchasing an additional 15 shares during the last quarter. Finally, Financial Avengers Inc. increased its position in shares of Netflix by 10.7% in the 3rd quarter. Financial Avengers Inc. now owns 155 shares of the Internet television network’s stock valued at $110,000 after acquiring an additional 15 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average of $743.15 and a 200-day moving average of $685.41. The stock has a market capitalization of $372.81 billion, a price-to-earnings ratio of 49.36, a P/E/G ratio of 1.59 and a beta of 1.25.

Netflix (NASDAQ:NFLX – Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping the consensus estimate of $5.09 by $0.31. The company had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. As a group, sell-side analysts predict that Netflix, Inc. will post 19.78 earnings per share for the current year.

About Netflix

(Get Free Report)

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.

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