Netflix (NASDAQ:NFLX) Trading 0% Higher After Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX)’s share price shot up 0% during mid-day trading on Wednesday after Argus raised their price target on the stock from $660.00 to $767.00. Argus currently has a buy rating on the stock. Netflix traded as high as $682.62 and last traded at $679.89. 343,001 shares were traded during mid-day trading, a decline of 91% from the average session volume of 3,936,849 shares. The stock had previously closed at $679.58.

A number of other research firms have also recently weighed in on NFLX. Citigroup increased their price objective on shares of Netflix from $555.00 to $660.00 and gave the stock a “neutral” rating in a report on Monday, March 25th. Sanford C. Bernstein increased their price objective on shares of Netflix from $490.00 to $600.00 and gave the stock a “market perform” rating in a report on Friday, April 19th. KeyCorp increased their price objective on shares of Netflix from $705.00 to $707.00 and gave the stock an “overweight” rating in a report on Thursday, June 13th. Canaccord Genuity Group cut shares of Netflix from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $720.00 to $585.00 in a report on Friday, April 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 price objective on shares of Netflix in a report on Monday, June 17th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $637.34.

Insiders Place Their Bets

In other Netflix news, Chairman Reed Hastings sold 18,361 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $551.54, for a total value of $10,126,825.94. Following the completion of the transaction, the chairman now directly owns 28 shares in the company, valued at $15,443.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Anne M. Sweeney sold 633 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $560.00, for a total transaction of $354,480.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Reed Hastings sold 18,361 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $551.54, for a total transaction of $10,126,825.94. Following the sale, the chairman now owns 28 shares of the company’s stock, valued at $15,443.12. The disclosure for this sale can be found here. Insiders sold a total of 71,385 shares of company stock worth $44,469,351 over the last ninety days. 1.76% of the stock is currently owned by company insiders.

Institutional Trading of Netflix

Several institutional investors have recently made changes to their positions in the stock. Obermeyer Wood Investment Counsel Lllp lifted its stake in Netflix by 2.8% in the first quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock valued at $378,000 after acquiring an additional 17 shares during the last quarter. Private Portfolio Partners LLC lifted its stake in Netflix by 1.7% in the first quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock valued at $633,000 after acquiring an additional 17 shares during the last quarter. KFA Private Wealth Group LLC lifted its stake in Netflix by 1.9% in the fourth quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock valued at $466,000 after acquiring an additional 18 shares during the last quarter. Legacy Capital Group California Inc. lifted its stake in Netflix by 0.6% in the fourth quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network’s stock valued at $1,379,000 after acquiring an additional 18 shares during the last quarter. Finally, Founders Financial Alliance LLC lifted its stake in Netflix by 2.4% in the fourth quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock valued at $369,000 after acquiring an additional 18 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Price Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $292.16 billion, a price-to-earnings ratio of 47.18, a PEG ratio of 1.46 and a beta of 1.27. The stock’s 50 day simple moving average is $633.35 and its 200-day simple moving average is $587.97.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. During the same quarter last year, the firm posted $2.88 earnings per share. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, analysts expect that Netflix, Inc. will post 18.31 EPS for the current fiscal year.

Netflix Company Profile

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.