Netflix (NASDAQ:NFLX) Stock Price Up 1.6% on Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX)’s stock price rose 1.6% 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 changed hands during mid-day trading, a decline of 31% from the average daily volume of 4,418,527 shares. The stock had previously closed at $953.99.

Several other research analysts have also recently weighed in on the company. Deutsche Bank Aktiengesellschaft upped their price objective on Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a research report on Wednesday. BMO Capital Markets reaffirmed an “outperform” rating and issued a $1,175.00 target price (up previously from $1,000.00) on shares of Netflix in a research report on Wednesday. Guggenheim increased their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday. Bank of America upped their target price on Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Evercore ISI raised their target price on shares of Netflix from $950.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and an average target price of $996.94.

Insider Buying and Selling

In other news, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total value of $518,320.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Theodore A. Sarandos sold 1,278 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $767.05, for a total transaction of $980,289.90. Following the completion of the transaction, the chief executive officer now owns 2,556 shares of the company’s stock, valued at approximately $1,960,579.80. The trade was a 33.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 152,198 shares of company stock valued at $127,616,898 over the last ninety days. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Large investors have recently bought and sold shares of the business. Advisory Resource Group lifted its holdings in shares of Netflix by 0.7% during the 3rd quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network’s stock valued at $1,238,000 after buying an additional 12 shares during the period. Insight Wealth Strategies LLC lifted its holdings in Netflix by 1.9% in the fourth quarter. Insight Wealth Strategies LLC now owns 656 shares of the Internet television network’s stock valued at $585,000 after acquiring an additional 12 shares during the period. Sunflower Bank N.A. boosted its position in Netflix by 2.1% in the fourth quarter. Sunflower Bank N.A. now owns 575 shares of the Internet television network’s stock worth $513,000 after purchasing an additional 12 shares during the last quarter. D.B. Root & Company LLC grew its stake in shares of Netflix by 4.1% during the 4th quarter. D.B. Root & Company LLC now owns 331 shares of the Internet television network’s stock valued at $295,000 after purchasing an additional 13 shares during the period. Finally, New World Advisors LLC increased its position in shares of Netflix by 2.0% during the 3rd quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock valued at $514,000 after purchasing an additional 14 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Netflix Stock Up 1.8 %

The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock has a market cap of $415.16 billion, a P/E ratio of 48.97, a PEG ratio of 1.41 and a beta of 1.27. The company’s 50 day moving average price is $889.11 and its two-hundred day moving average price is $763.41.

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