Netflix (NASDAQ:NFLX) Reaches New 52-Week High on Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX) reached a new 52-week high during mid-day trading on Saturday after Robert W. Baird raised their price target on the stock from $1,200.00 to $1,300.00. Robert W. Baird currently has an outperform rating on the stock. Netflix traded as high as $1,196.50 and last traded at $1,191.53, with a volume of 4681460 shares traded. The stock had previously closed at $1,177.98.

Several other equities research analysts have also recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Netflix from $1,025.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. The Goldman Sachs Group upped their price target on shares of Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Pivotal Research upped their price target on shares of Netflix from $1,250.00 to $1,350.00 and gave the stock a “buy” rating in a report on Monday, April 21st. Needham & Company LLC restated a “buy” rating and issued a $1,126.00 price objective on shares of Netflix in a report on Thursday, April 17th. Finally, Rosenblatt Securities increased their price objective on Netflix from $1,494.00 to $1,514.00 and gave the company a “buy” rating in a report on Monday, April 21st. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,093.39.

Insider Activity

In other Netflix news, CAO Jeffrey William Karbowski sold 160 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $1,000.00, for a total value of $160,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $982.05, for a total transaction of $2,554,312.05. Following the sale, the chief financial officer now owns 3,691 shares in the company, valued at approximately $3,624,746.55. The trade was a 41.34% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 132,868 shares of company stock valued at $138,483,256. Insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NFLX. Halbert Hargrove Global Advisors LLC raised its position in Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock worth $25,000 after acquiring an additional 13 shares during the period. Pathway Financial Advisers LLC increased its holdings in shares of Netflix by 82.4% in the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after buying an additional 14 shares during the last quarter. Brown Shipley& Co Ltd bought a new position in Netflix during the 4th quarter valued at about $27,000. Transce3nd LLC purchased a new stake in Netflix in the 4th quarter valued at about $32,000. Finally, Newton One Investments LLC purchased a new stake in Netflix in the 4th quarter valued at about $34,000. Institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

The firm’s 50-day moving average price is $1,009.34 and its two-hundred day moving average price is $945.60. The stock has a market cap of $507.08 billion, a PE ratio of 60.09, a PEG ratio of 2.12 and a beta of 1.58. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping the consensus estimate of $5.74 by $0.87. The firm had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same quarter in the prior year, the company earned $8.28 EPS. On average, equities analysts expect that Netflix, Inc. will post 24.58 earnings per share 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.