Netflix (NASDAQ:NFLX) Trading Up 1.7% Following Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX)’s share price traded up 1.7% during trading on Wednesday 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 $847.90 and last traded at $842.10. 840,781 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 2,819,810 shares. The stock had previously closed at $828.40.

Several other analysts also recently weighed in on the company. Loop Capital downgraded Netflix from a “buy” rating to a “hold” rating and lifted their price objective for the company from $800.00 to $950.00 in a report on Monday, December 16th. Pivotal Research upped their target price on Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Citigroup raised their price target on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Wolfe Research reiterated an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Finally, Sanford C. Bernstein boosted their price objective on Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $845.82.

Insider Transactions at Netflix

In other Netflix news, insider David A. Hyman sold 267 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at $24,202,828.70. This represents a 0.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory K. Peters sold 4,186 shares of Netflix stock in a transaction on 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 transaction, the chief executive officer now owns 13,090 shares in the company, valued at approximately $9,817,500. This represents a 24.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 156,742 shares of company stock worth $131,030,268 in the last ninety days. Insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several hedge funds and other institutional investors have recently bought and sold shares of NFLX. RPg Family Wealth Advisory LLC acquired a new position in Netflix in the 3rd quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after buying an additional 42 shares during the period. Decker Retirement Planning Inc. acquired a new position in Netflix in the fourth quarter valued at approximately $43,000. MidAtlantic Capital Management Inc. purchased a new position in Netflix in the third quarter worth approximately $37,000. Finally, FSA Wealth Management LLC purchased a new position in Netflix in the third quarter worth approximately $38,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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 company has a market cap of $362.20 billion, a price-to-earnings ratio of 47.95, a PEG ratio of 1.77 and a beta of 1.27. The firm has a 50 day simple moving average of $881.04 and a 200-day simple moving average of $755.96.

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