Netflix (NASDAQ:NFLX) Shares Up 0.2% Following Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX)’s share price shot up 0.2% during mid-day trading on Tuesday after Oppenheimer raised their price target on the stock from $825.00 to $1,065.00. Oppenheimer currently has an outperform rating on the stock. Netflix traded as high as $928.45 and last traded at $922.88. 687,538 shares were traded during mid-day trading, a decline of 81% from the average session volume of 3,607,365 shares. The stock had previously closed at $921.08.

NFLX has been the subject of a number of other research reports. Piper Sandler reissued an “overweight” rating and issued a $840.00 price target (up previously from $800.00) on shares of Netflix in a research note on Friday, October 18th. Wolfe Research reiterated an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. Evercore ISI raised their price target on Netflix from $775.00 to $950.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. The Goldman Sachs Group set a $750.00 price target on Netflix in a research note on Friday, October 18th. Finally, Jefferies Financial Group increased their price objective on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $801.18.

Insider Activity at Netflix

In related news, Director Leslie J. Kilgore sold 428 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $715.00, for a total transaction of $306,020.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gregory K. Peters sold 4,392 shares of Netflix stock in a transaction on Wednesday, September 25th. The shares were 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 owns 13,090 shares in the company, valued at approximately $9,490,250. This represents a 25.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 165,405 shares of company stock valued at $129,623,487 over the last 90 days. 1.76% of the stock is owned by corporate insiders.

Institutional Trading of Netflix

A number of institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC lifted its position in shares of 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 valued at $4,080,522,000 after acquiring an additional 5,748,200 shares during the period. Assenagon Asset Management S.A. boosted its position in Netflix by 154.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after purchasing an additional 642,920 shares in the last quarter. State Street Corp grew its holdings in Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after purchasing an additional 426,740 shares during the last quarter. Jennison Associates LLC grew its holdings in Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new position in shares of Netflix in the third quarter valued at $222,871,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Down 0.2 %

The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market capitalization of $392.89 billion, a PE ratio of 52.02, a price-to-earnings-growth ratio of 1.80 and a beta of 1.27. The firm’s 50-day moving average is $822.35 and its 200 day moving average is $724.17.

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