Netflix (NASDAQ:NFLX) Trading 1.6% Higher Following Analyst Upgrade

Shares of Netflix, Inc. (NASDAQ:NFLX) were up 1.6% during mid-day trading on Thursday after Wolfe Research upgraded the stock from a peer perform rating to an outperform rating. Wolfe Research now has a $1,100.00 price target on the stock. Netflix traded as high as $984.42 and last traded at $969.71. Approximately 3,061,421 shares were traded during trading, a decline of 31% from the average daily volume of 4,418,527 shares. The stock had previously closed at $953.99.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. upped their price objective on Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a report on Wednesday. Seaport Res Ptn upgraded shares of Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Loop Capital boosted their price objective on shares of Netflix from $925.00 to $1,000.00 and gave the company a “hold” rating in a report on Wednesday. Piper Sandler reissued an “overweight” rating and set a $1,100.00 price target (up from $950.00) on shares of Netflix in a research report on Wednesday. Finally, BMO Capital Markets restated an “outperform” rating and issued a $1,175.00 price objective (up previously from $1,000.00) on shares of Netflix in a research report on Wednesday. Ten research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $996.94.

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 48,363 shares of the company’s 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 transaction, the chairman now owns 114 shares in the company, valued at approximately $102,212.40. This represents a 99.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard N. Barton sold 6,364 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the sale, the director now owns 246 shares of the company’s stock, valued at $216,327.48. This trade represents a 96.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 146,500 shares of company stock worth $123,309,210. Company insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Ameriprise Financial Inc. lifted its position in Netflix by 5.4% during the second quarter. Ameriprise Financial Inc. now owns 1,120,690 shares of the Internet television network’s stock worth $756,945,000 after purchasing an additional 57,567 shares during the period. Employees Retirement System of Texas raised its position in shares of Netflix by 2.2% in the 2nd quarter. Employees Retirement System of Texas now owns 141,527 shares of the Internet television network’s stock valued at $95,514,000 after buying an additional 3,062 shares in the last quarter. DigitalBridge Group Inc. lifted its holdings in shares of Netflix by 35.5% during the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after acquiring an additional 9,451 shares during the period. Decatur Capital Management Inc. boosted its position in shares of Netflix by 2.5% during the 2nd quarter. Decatur Capital Management Inc. now owns 4,895 shares of the Internet television network’s stock worth $3,304,000 after acquiring an additional 120 shares in the last quarter. Finally, DE Burlo Group Inc. bought a new position in Netflix in the second quarter valued at approximately $220,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Trading Up 3.2 %

The firm’s 50-day simple moving average is $889.11 and its 200 day simple moving average is $763.41. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market capitalization of $420.99 billion, a price-to-earnings ratio of 49.67, a P/E/G ratio of 1.41 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 39.48%. The firm had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10,141,900 billion. During the same quarter in the prior year, the business earned $2.11 earnings per share. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. Equities analysts expect that Netflix, Inc. will post 23.43 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.