Netflix (NASDAQ:NFLX) Trading Up 10.4% After Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX) was up 10.4% during trading on Friday after Wells Fargo & Company raised their price target on the stock from $758.00 to $797.00. Wells Fargo & Company currently has an overweight rating on the stock. Netflix traded as high as $761.91 and last traded at $758.91. Approximately 6,885,611 shares changed hands during trading, an increase of 87% from the average daily volume of 3,678,440 shares. The stock had previously closed at $687.65.

A number of other analysts also recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a research report on Friday. UBS Group lifted their target price on shares of Netflix from $750.00 to $825.00 and gave the company a “buy” rating in a research report on Friday. Macquarie reissued an “outperform” rating and issued a $795.00 price target on shares of Netflix in a report on Friday. Bank of America raised their price objective on shares of Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Finally, Wedbush raised their price target on Netflix from $725.00 to $775.00 and gave the company an “overweight” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $735.24.

Insider Transactions at Netflix

In other news, Director Leslie J. Kilgore sold 383 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $730.00, for a total transaction of $279,590.00. Following the transaction, the director now owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Netflix news, Director Leslie J. Kilgore sold 383 shares of Netflix stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total transaction of $279,590.00. Following the completion of the transaction, the director now directly owns 35,262 shares of the company’s stock, valued at $25,741,260. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total transaction of $271,140.27. The disclosure for this sale can be found here. Insiders sold a total of 225,167 shares of company stock valued at $150,492,460 over the last three months. Corporate insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NFLX. GQG Partners LLC purchased a new position in Netflix during the 1st quarter valued at $1,450,476,000. Jennison Associates LLC grew its position in shares of Netflix by 17.0% during the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after buying an additional 929,193 shares in the last quarter. Global Assets Advisory LLC purchased a new position in Netflix during the 1st quarter valued at about $436,514,000. Jericho Capital Asset Management L.P. purchased a new position in Netflix during the first quarter valued at approximately $372,293,000. Finally, Swedbank AB purchased a new position in shares of Netflix in the 1st quarter valued at $216,538,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

The firm has a 50 day simple moving average of $693.78 and a 200-day simple moving average of $653.62. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. The company has a market cap of $328.47 billion, a PE ratio of 52.67, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping the consensus estimate of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The company had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. During the same quarter in the previous year, the firm earned $3.29 EPS. The firm’s revenue was up 16.8% compared to the same quarter last year. As a group, research analysts predict that Netflix, Inc. will post 19.08 earnings per share 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.