Netflix (NASDAQ:NFLX) Trading Up 0.1% on Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX)’s share price was up 0.1% during mid-day trading on Friday after Citigroup raised their price target on the stock from $725.00 to $920.00. Citigroup currently has a neutral rating on the stock. Netflix traded as high as $922.36 and last traded at $919.03. Approximately 517,954 shares were traded during trading, a decline of 86% from the average daily volume of 3,629,755 shares. The stock had previously closed at $917.87.

Several other analysts also recently issued reports on the stock. Wedbush reaffirmed an “outperform” rating and set a $950.00 price objective (up from $800.00) on shares of Netflix in a report on Monday, November 18th. KeyCorp upped their price target on shares of Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a report on Friday, October 18th. BMO Capital Markets reiterated an “outperform” rating and issued a $825.00 price objective (up from $770.00) on shares of Netflix in a research note on Friday, October 18th. TD Cowen boosted their price objective on Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Guggenheim raised their target price on Netflix from $810.00 to $825.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $783.00.

Insider Activity

In related news, Director Jay C. Hoag sold 43,750 shares of Netflix stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $687.07, for a total transaction of $30,059,312.50. Following the completion of the transaction, the director now directly owns 95,040 shares of the company’s stock, valued at $65,299,132.80. This trade represents a 31.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Leslie J. Kilgore sold 428 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $715.00, for a total transaction of $306,020.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 209,155 shares of company stock worth $159,682,799. Corporate insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp grew its holdings in shares of Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares during the last quarter. Geode Capital Management LLC lifted its position in Netflix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after buying an additional 123,029 shares in the last quarter. Jennison Associates LLC grew its holdings in Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after acquiring an additional 316,594 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after acquiring an additional 5,748,200 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Netflix by 0.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after acquiring an additional 23,702 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Performance

The stock’s 50 day simple moving average is $792.92 and its two-hundred day simple moving average is $710.12. The company has a market capitalization of $399.56 billion, a P/E ratio of 52.90, a P/E/G ratio of 1.76 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

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