Netflix (NASDAQ:NFLX) Trading 1.1% Higher on Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX)’s stock price shot up 1.1% on Thursday after Citigroup raised their price target on the stock from $725.00 to $920.00. Citigroup currently has a neutral rating on the stock. Netflix traded as high as $921.70 and last traded at $920.69. 667,827 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 3,633,309 shares. The stock had previously closed at $911.06.

Several other research analysts also recently weighed in on NFLX. The Goldman Sachs Group set a $750.00 target price on shares of Netflix in a research report on Friday, October 18th. Canaccord Genuity Group boosted their target price on shares of Netflix from $760.00 to $940.00 and gave the company a “hold” rating in a research note on Monday. Wells Fargo & Company lifted their price target on Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Needham & Company LLC raised their price objective on Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Rosenblatt Securities lifted their target price on Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $783.00.

Insider Activity at Netflix

In other Netflix 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 transaction of $518,320.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 209,155 shares of company stock worth $159,682,799 in the last quarter. Corporate insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

A number of hedge funds have recently bought and sold shares of NFLX. RPg Family Wealth Advisory LLC bought a new position in shares of Netflix during the third quarter worth approximately $25,000. Denver PWM LLC bought a new position in Netflix during the 2nd quarter worth $25,000. Proffitt & Goodson Inc. raised its holdings in Netflix by 380.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after acquiring an additional 42 shares during the period. Finally, AlphaMark Advisors LLC increased its position in shares of Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after purchasing an additional 45 shares during the period. 80.93% of the stock is owned by institutional investors.

Netflix Stock Up 1.3 %

The stock has a 50-day moving average of $784.25 and a 200 day moving average of $706.19. 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 company has a market cap of $394.33 billion, a P/E ratio of 52.02, a PEG ratio of 1.74 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating the consensus estimate of $5.09 by $0.31. The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. Research analysts anticipate that Netflix, Inc. will post 19.78 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.