Netflix (NASDAQ:NFLX) Trading 0.2% Higher After Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX) was up 0.2% during trading on Friday after UBS Group raised their price target on the stock from $825.00 to $1,040.00. UBS Group currently has a buy rating on the stock. Netflix traded as high as $906.50 and last traded at $904.23. Approximately 1,272,112 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 3,599,040 shares. The stock had previously closed at $902.04.

NFLX has been the topic of a number of other reports. Jefferies Financial Group lifted their target price on shares of Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. China Renaissance initiated coverage on Netflix in a research report on Thursday, September 5th. They issued a “hold” rating and a $680.00 price target on the stock. Rosenblatt Securities boosted their target price on Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Piper Sandler restated an “overweight” rating and issued a $840.00 target price (up previously from $800.00) on shares of Netflix in a research note on Friday, October 18th. Finally, Macquarie reiterated an “outperform” rating and set a $795.00 price target on shares of Netflix in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $807.70.

Insiders Place Their Bets

In other Netflix news, CEO Gregory K. Peters sold 4,392 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total transaction of $3,184,200.00. Following the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $9,490,250. This represents a 25.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Theodore A. Sarandos sold 1,278 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $767.05, for a total value of $980,289.90. Following the transaction, the chief executive officer now owns 2,556 shares of the company’s stock, valued at $1,960,579.80. This represents a 33.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 164,977 shares of company stock valued at $129,317,467 in the last ninety days. Corporate insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several large investors have recently made changes to their positions in NFLX. Hennion & Walsh Asset Management Inc. raised its position in Netflix by 43.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 542 shares of the Internet television network’s stock worth $366,000 after acquiring an additional 164 shares in the last quarter. Cornerstone Wealth Group LLC lifted its stake in Netflix by 3.9% during the second quarter. Cornerstone Wealth Group LLC now owns 1,271 shares of the Internet television network’s stock valued at $858,000 after purchasing an additional 48 shares during the last quarter. Diversified LLC bought a new stake in Netflix during the second quarter worth approximately $232,000. Secure Asset Management LLC grew its position in Netflix by 11.1% in the second quarter. Secure Asset Management LLC now owns 892 shares of the Internet television network’s stock worth $602,000 after buying an additional 89 shares during the last quarter. Finally, TrueWealth Advisors LLC acquired a new stake in shares of Netflix during the 2nd quarter valued at $273,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Price Performance

The company has a market cap of $388.28 billion, a price-to-earnings ratio of 51.41, a P/E/G ratio of 1.77 and a beta of 1.27. 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 business has a 50-day moving average price of $829.03 and a 200 day moving average price of $726.56.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. As a group, research analysts expect that Netflix, Inc. will post 19.78 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.