Netflix (NASDAQ:NFLX) Shares Up 3% After Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX) shares traded up 3% during mid-day trading on Monday after Macquarie raised their price target on the stock from $1,150.00 to $1,200.00. Macquarie currently has an outperform rating on the stock. Netflix traded as high as $1,019.00 and last traded at $1,001.79. 3,998,762 shares were traded during mid-day trading, an increase of 9% from the average session volume of 3,675,732 shares. The stock had previously closed at $973.03.

A number of other analysts have also weighed in on NFLX. FBN Securities began coverage on Netflix in a research note on Thursday, March 27th. They set an “outperform” rating and a $1,165.00 price objective for the company. Wedbush upped their price objective on shares of Netflix from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Monday. BMO Capital Markets reissued an “outperform” rating and issued a $1,200.00 target price (up from $1,175.00) on shares of Netflix in a research note on Friday. Needham & Company LLC restated a “buy” rating and set a $1,126.00 price target on shares of Netflix in a report on Thursday, April 17th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $1,200.00 price objective (up previously from $1,150.00) on shares of Netflix in a report on Friday. Nine investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,070.65.

Insider Activity at Netflix

In other news, Director Jay C. Hoag sold 617 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $979.71, for a total transaction of $604,481.07. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gregory K. Peters sold 4,939 shares of Netflix stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the completion of the transaction, the chief executive officer now owns 12,950 shares of the company’s stock, valued at approximately $13,338,500. This represents a 27.61 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 274,312 shares of company stock valued at $267,919,297. Insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

A number of large investors have recently bought and sold shares of the business. West Michigan Advisors LLC increased its position in shares of Netflix by 1.3% during the fourth quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock worth $692,000 after acquiring an additional 10 shares during the period. Warwick Investment Management Inc. grew its stake in Netflix by 3.5% in the fourth quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network’s stock worth $266,000 after purchasing an additional 10 shares in the last quarter. MRP Capital Investments LLC increased its holdings in Netflix by 1.0% during the 4th quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network’s stock worth $938,000 after purchasing an additional 10 shares during the period. Bedell Frazier Investment Counselling LLC lifted its holdings in shares of Netflix by 2.2% in the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network’s stock worth $412,000 after buying an additional 10 shares during the period. Finally, Mission Creek Capital Partners Inc. increased its stake in shares of Netflix by 0.3% during the fourth quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network’s stock valued at $3,410,000 after buying an additional 10 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a fifty day moving average of $954.08 and a two-hundred day moving average of $896.26. The stock has a market capitalization of $422.59 billion, a P/E ratio of 49.82, a P/E/G ratio of 2.12 and a beta of 1.55.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same period last year, the company posted $8.28 earnings per share. On average, analysts predict that Netflix, Inc. will post 24.58 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.