Netflix (NASDAQ:NFLX) Stock Price Up 0.6% After Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX) was up 0.6% during mid-day trading on Thursday after Bank of America raised their price target on the stock from $800.00 to $1,000.00. Bank of America currently has a buy rating on the stock. Netflix traded as high as $894.77 and last traded at $888.84. Approximately 1,239,057 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 3,653,134 shares. The stock had previously closed at $883.85.

NFLX has been the subject of several other research reports. JPMorgan Chase & Co. increased their price objective on Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Evercore ISI increased their price objective on Netflix from $750.00 to $775.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Jefferies Financial Group increased their price objective on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. TD Cowen raised their target price on Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $764.82.

Insider Transactions at Netflix

In other news, Director Anne M. Sweeney sold 589 shares of Netflix stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total value of $518,320.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David A. Hyman sold 267 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $24,202,828.70. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 185,866 shares of company stock valued at $133,393,921 over the last ninety days. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

A number of large investors have recently modified their holdings of the business. Denver PWM LLC bought a new stake in Netflix in the second quarter worth $25,000. RPg Family Wealth Advisory LLC bought a new position in shares of Netflix during the third quarter valued at $25,000. Proffitt & Goodson Inc. lifted its holdings in shares of Netflix by 380.0% during the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after purchasing an additional 42 shares in the last quarter. Finally, AlphaMark Advisors LLC lifted its holdings in shares of Netflix by 642.9% during the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after purchasing an additional 45 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

The stock has a market capitalization of $382.33 billion, a P/E ratio of 50.30, a P/E/G ratio of 1.68 and a beta of 1.25. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The business has a fifty day moving average price of $747.20 and a 200-day moving average price of $686.80.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The company had revenue of $9.82 billion during 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%. On average, sell-side analysts expect 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.