Netflix (NASDAQ:NFLX) Trading 1.9% Higher on Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX)’s share price shot up 1.9% on Monday after JPMorgan Chase & Co. raised their price target on the stock from $1,220.00 to $1,230.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Netflix traded as high as $1,266.47 and last traded at $1,268.78. 1,139,652 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 4,243,578 shares. The stock had previously closed at $1,245.11.

NFLX has been the subject of several other reports. BMO Capital Markets restated an “outperform” rating and issued a $1,200.00 target price (up from $1,175.00) on shares of Netflix in a research report on Friday, April 18th. FBN Securities began coverage on shares of Netflix in a research report on Thursday, March 27th. They issued an “outperform” rating and a $1,165.00 target price for the company. Macquarie boosted their target price on shares of Netflix from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Monday, April 21st. Seaport Res Ptn cut shares of Netflix from a “strong-buy” rating to a “hold” rating in a research report on Sunday, July 6th. Finally, Wolfe Research set a $1,340.00 target price on shares of Netflix and gave the company an “outperform” rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and a consensus price target of $1,220.58.

Insider Buying and Selling at Netflix

In other Netflix news, Director Jay C. Hoag sold 32,515 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the completion of the transaction, the director directly owned 79,040 shares in the company, valued at approximately $87,099,708.80. This represents a 29.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Reed Hastings sold 26,977 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $1,133.05, for a total transaction of $30,566,289.85. Following the sale, the director owned 394 shares of the company’s stock, valued at approximately $446,421.70. This trade represents a 98.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 186,723 shares of company stock valued at $223,307,201. Insiders own 1.37% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several large investors have recently modified their holdings of the company. Steigerwald Gordon & Koch Inc. increased its position in shares of Netflix by 2.5% during the second quarter. Steigerwald Gordon & Koch Inc. now owns 492 shares of the Internet television network’s stock worth $659,000 after buying an additional 12 shares during the period. Crew Capital Management Ltd. increased its position in shares of Netflix by 92.1% during the second quarter. Crew Capital Management Ltd. now owns 803 shares of the Internet television network’s stock worth $1,075,000 after buying an additional 385 shares during the period. Hoey Investments Inc. increased its position in shares of Netflix by 234.7% during the second quarter. Hoey Investments Inc. now owns 800 shares of the Internet television network’s stock worth $1,071,000 after buying an additional 561 shares during the period. Occidental Asset Management LLC increased its position in shares of Netflix by 0.9% during the second quarter. Occidental Asset Management LLC now owns 1,083 shares of the Internet television network’s stock worth $1,451,000 after buying an additional 10 shares during the period. Finally, CHICAGO TRUST Co NA increased its position in shares of Netflix by 23.5% during the second quarter. CHICAGO TRUST Co NA now owns 1,063 shares of the Internet television network’s stock worth $1,423,000 after buying an additional 202 shares during the period. 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 0.58, a current ratio of 1.20 and a quick ratio of 1.20. The company’s 50-day moving average price is $1,224.26 and its two-hundred day moving average price is $1,053.21. The company has a market capitalization of $537.05 billion, a price-to-earnings ratio of 59.64, a PEG ratio of 2.25 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data 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 company had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. Netflix had a net margin of 23.07% and a return on equity of 39.61%. During the same period in the prior year, the company posted $8.28 earnings per share. On average, equities research analysts anticipate that Netflix, Inc. will post 24.58 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.