Netflix (NASDAQ:NFLX) Trading Up 2.3% Following Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX)’s stock price was up 2.3% during mid-day trading on Tuesday after Guggenheim raised their price target on the stock from $600.00 to $700.00. Guggenheim currently has a buy rating on the stock. Netflix traded as high as $622.20 and last traded at $620.92. Approximately 1,290,161 shares were traded during trading, a decline of 69% from the average daily volume of 4,221,854 shares. The stock had previously closed at $607.15.

Other equities analysts have also issued reports about the company. UBS Group boosted their price target on Netflix from $570.00 to $685.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Sanford C. Bernstein boosted their price target on Netflix from $390.00 to $490.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 24th. Macquarie boosted their price target on Netflix from $595.00 to $685.00 and gave the stock an “outperform” rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their price target on Netflix from $610.00 to $650.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, Loop Capital boosted their price target on Netflix from $585.00 to $700.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $603.48.

Insider Buying and Selling

In related news, CEO Gregory K. Peters sold 13,655 shares of the company’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $543.80, for a total transaction of $7,425,589.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $7,118,342. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Gregory K. Peters sold 5,352 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $625.00, for a total transaction of $3,345,000.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $8,181,250. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Gregory K. Peters sold 13,655 shares of the company’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $543.80, for a total value of $7,425,589.00. Following the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $7,118,342. The disclosure for this sale can be found here. Insiders sold a total of 268,335 shares of company stock worth $151,619,811 in the last three months. 2.45% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NFLX. Authentikos Wealth Advisory LLC bought a new position in Netflix during the third quarter valued at about $25,000. Spartan Planning & Wealth Management acquired a new stake in Netflix during the 3rd quarter worth about $26,000. Carmel Capital Partners LLC boosted its position in Netflix by 290.0% during the 3rd quarter. Carmel Capital Partners LLC now owns 78 shares of the Internet television network’s stock worth $30,000 after acquiring an additional 58 shares during the period. VitalStone Financial LLC boosted its position in Netflix by 933.3% during the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after acquiring an additional 56 shares during the period. Finally, Aspect Partners LLC acquired a new stake in Netflix during the 4th quarter worth about $32,000. 80.93% of the stock is currently owned by institutional investors.

Netflix Price Performance

The stock has a market capitalization of $267.24 billion, a price-to-earnings ratio of 51.42, a price-to-earnings-growth ratio of 1.69 and a beta of 1.22. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.69. The stock has a 50-day simple moving average of $603.65 and a 200 day simple moving average of $510.44.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 23rd. The Internet television network reported $2.11 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.09). Netflix had a return on equity of 24.76% and a net margin of 16.04%. The business had revenue of $8.83 billion for the quarter, compared to analyst estimates of $8.72 billion. During the same quarter in the previous year, the business posted $0.12 earnings per share. The company’s revenue was up 12.5% compared to the same quarter last year. On average, equities research analysts forecast that Netflix, Inc. will post 17.02 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.