Netflix (NASDAQ:NFLX) Stock Price Up 1.7% on Analyst Upgrade

Shares of Netflix, Inc. (NASDAQ:NFLX) rose 1.7% during mid-day trading on Thursday after UBS Group raised their price target on the stock from $825.00 to $1,040.00. UBS Group currently has a buy rating on the stock. Netflix traded as high as $912.62 and last traded at $905.04. Approximately 829,008 shares traded hands during trading, a decline of 77% from the average daily volume of 3,600,280 shares. The stock had previously closed at $889.55.

NFLX has been the topic of a number of other reports. Needham & Company LLC increased their price objective on shares of Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Barclays restated an “underweight” rating and set a $550.00 price objective on shares of Netflix in a research report on Friday, October 18th. Loop Capital cut Netflix from a “buy” rating to a “hold” rating and increased their target price for the company from $800.00 to $950.00 in a report on Monday. JPMorgan Chase & Co. boosted their price target on Netflix from $850.00 to $1,010.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Sanford C. Bernstein boosted their price objective on shares of Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $807.70.

Insiders Place Their Bets

In related news, Chairman Reed Hastings sold 48,363 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $896.60, for a total value of $43,362,265.80. Following the completion of the transaction, the chairman now owns 114 shares of the company’s stock, valued at approximately $102,212.40. This represents a 99.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Gregory K. Peters sold 4,392 shares of Netflix stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total value of $3,184,200.00. Following the sale, the chief executive officer now owns 13,090 shares in the company, valued at $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 164,977 shares of company stock worth $129,317,467 over the last quarter. 1.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Netflix

Institutional investors and hedge funds have recently made changes to their positions in the business. Hennion & Walsh Asset Management Inc. grew its stake in Netflix by 43.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 542 shares of the Internet television network’s stock worth $366,000 after purchasing an additional 164 shares in the last quarter. Cornerstone Wealth Group LLC raised its position in shares of Netflix by 3.9% during the 2nd quarter. Cornerstone Wealth Group LLC now owns 1,271 shares of the Internet television network’s stock valued at $858,000 after acquiring an additional 48 shares in the last quarter. Diversified LLC acquired a new stake in shares of Netflix during the 2nd quarter valued at approximately $232,000. Secure Asset Management LLC lifted its stake in Netflix by 11.1% during the second quarter. Secure Asset Management LLC now owns 892 shares of the Internet television network’s stock worth $602,000 after purchasing an additional 89 shares during the last quarter. Finally, TrueWealth Advisors LLC acquired a new position in Netflix in the second quarter worth $273,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Trading Up 1.4 %

The stock has a market cap of $385.58 billion, a P/E ratio of 51.05, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. The firm’s 50 day simple moving average is $829.03 and its two-hundred day simple moving average is $726.56. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating 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, equities research analysts predict 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.