Netflix (NASDAQ:NFLX) Stock Price Up 2.8% on Analyst Upgrade

Shares of Netflix, Inc. (NASDAQ:NFLX) shot up 2.8% on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $850.00 to $1,010.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Netflix traded as high as $940.01 and last traded at $939.05. 998,812 shares were traded during trading, a decline of 72% from the average session volume of 3,622,117 shares. The stock had previously closed at $913.35.

A number of other equities analysts have also recently weighed in on NFLX. Canaccord Genuity Group upped their price objective on shares of Netflix from $760.00 to $940.00 and gave the stock a “hold” rating in a research report on Monday, December 2nd. Rosenblatt Securities lifted their price objective on Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Jefferies Financial Group raised their target price on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Loop Capital lifted their price target on Netflix from $750.00 to $800.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Pivotal Research lifted their target price on shares of Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $787.85.

Insider Buying and Selling at Netflix

In related news, CEO Gregory K. Peters sold 4,392 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total transaction of $3,184,200.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $9,490,250. The trade was a 25.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the completion of the sale, the chairman now directly owns 114 shares in the company, valued at $102,212.40. This represents a 99.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 165,405 shares of company stock valued at $129,623,487 in the last three months. 1.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Netflix

A number of institutional investors and hedge funds have recently made changes to their positions in NFLX. DGS Capital Management LLC raised its holdings in Netflix by 5.2% in the third quarter. DGS Capital Management LLC now owns 1,931 shares of the Internet television network’s stock valued at $1,370,000 after acquiring an additional 95 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new stake in shares of Netflix in the 3rd quarter valued at approximately $21,594,000. American Trust acquired a new stake in shares of Netflix in the 3rd quarter valued at $323,000. Old North State Trust LLC lifted its position in shares of Netflix by 3.2% during the 3rd quarter. Old North State Trust LLC now owns 699 shares of the Internet television network’s stock worth $496,000 after purchasing an additional 22 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Netflix by 11.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,236,539 shares of the Internet television network’s stock worth $881,652,000 after purchasing an additional 127,541 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Trading Down 1.2 %

The stock has a market cap of $395.63 billion, a price-to-earnings ratio of 52.53, a P/E/G ratio of 1.80 and a beta of 1.27. The business’s 50 day moving average is $805.66 and its 200 day moving average is $716.00. 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 released its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The business had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. As a group, equities analysts expect that Netflix, Inc. will post 19.78 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.