Netflix (NASDAQ:NFLX) Trading 1.4% Higher Following Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX) was up 1.4% during mid-day 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 research firms also recently weighed in on NFLX. JPMorgan Chase & Co. dropped their target price on Netflix from $1,010.00 to $1,000.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. Loop Capital lowered shares of Netflix from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $800.00 to $950.00 in a report on Monday, December 16th. Wolfe Research reissued an “outperform” rating on shares of Netflix in a research note on Friday, October 18th. StockNews.com raised shares of Netflix from a “hold” rating to a “buy” rating in a research note on Saturday, December 21st. Finally, Oppenheimer boosted their target price on Netflix from $825.00 to $1,065.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and an average target price of $845.82.

Insiders Place Their Bets

In other Netflix news, Director Leslie J. Kilgore sold 358 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $765.00, for a total value of $273,870.00. Following the completion of the transaction, the director now owns 35,262 shares of the company’s stock, valued at approximately $26,975,430. The trade was a 1.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $3,139,500.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $9,817,500. This trade represents a 24.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 156,742 shares of company stock valued at $131,030,268. 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. City Holding Co. increased its position in shares of Netflix by 29.5% during the 4th quarter. City Holding Co. now owns 2,873 shares of the Internet television network’s stock valued at $2,561,000 after purchasing an additional 654 shares during the last quarter. Grove Bank & Trust increased its stake in shares of Netflix by 5.3% in the 4th quarter. Grove Bank & Trust now owns 4,215 shares of the Internet television network’s stock worth $3,757,000 after purchasing an additional 213 shares in the last quarter. Brady Martz Wealth Solutions LLC purchased a new stake in Netflix in the fourth quarter worth about $883,000. Bernardo Wealth Planning LLC increased its position in Netflix by 3.6% in the fourth quarter. Bernardo Wealth Planning LLC now owns 518 shares of the Internet television network’s stock worth $434,000 after buying an additional 18 shares in the last quarter. Finally, My Legacy Advisors LLC increased its position in Netflix by 7.8% in the fourth quarter. My Legacy Advisors LLC now owns 666 shares of the Internet television network’s stock worth $565,000 after buying an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The business has a 50-day simple moving average of $881.04 and a 200 day simple moving average of $755.96. The firm has a market cap of $367.38 billion, a PE ratio of 48.64, a PEG ratio of 1.35 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Equities research 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.