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

Netflix, Inc. (NASDAQ:NFLX) was up 1.7% on Wednesday after BMO Capital Markets raised their price target on the stock from $825.00 to $1,000.00. BMO Capital Markets currently has an outperform rating on the stock. Netflix traded as high as $847.90 and last traded at $842.10. Approximately 840,781 shares changed hands during trading, a decline of 70% from the average daily volume of 2,819,810 shares. The stock had previously closed at $828.40.

A number of other equities research analysts have also recently commented on the company. Morgan Stanley raised their price target on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Wedbush reissued an “outperform” rating and set a $950.00 price target (up from $800.00) on shares of Netflix in a report on Monday, November 18th. Citigroup raised their price target on Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Rosenblatt Securities raised their price target on Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Barclays raised their price target on Netflix from $550.00 to $715.00 and gave the company an “underweight” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, Netflix has an average rating of “Moderate Buy” and an average price target of $845.82.

Insider Activity at Netflix

In related news, Director Anne M. Sweeney sold 589 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy M. Haley sold 11,090 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total value of $8,405,776.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 156,742 shares of company stock worth $131,030,268. Company insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Large investors have recently modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of Netflix in the third quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. raised its stake in Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after buying an additional 42 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new position in Netflix in the third quarter worth approximately $37,000. FSA Wealth Management LLC bought a new position in Netflix in the third quarter worth approximately $38,000. Finally, First Personal Financial Services bought a new position in Netflix in the third quarter worth approximately $40,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Up 2.4 %

The company has a market cap of $362.60 billion, a P/E ratio of 48.01, a P/E/G ratio of 1.77 and a beta of 1.27. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $881.04 and its 200 day moving average is $755.96.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data 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. The company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. As a group, equities analysts anticipate 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.