Netflix (NASDAQ:NFLX) Stock Price Up 1% After Analyst Upgrade

Shares of Netflix, Inc. (NASDAQ:NFLX) were up 1% on Tuesday after KeyCorp raised their price target on the stock from $707.00 to $735.00. KeyCorp currently has an overweight rating on the stock. Netflix traded as high as $693.84 and last traded at $692.90. Approximately 708,867 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 3,894,914 shares. The stock had previously closed at $685.74.

NFLX has been the subject of several other research reports. Morgan Stanley increased their price target on shares of Netflix from $600.00 to $700.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Guggenheim increased their target price on shares of Netflix from $600.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Pivotal Research lifted their price target on shares of Netflix from $765.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Wedbush reissued an “outperform” rating and set a $725.00 price objective on shares of Netflix in a report on Monday, May 20th. Finally, Needham & Company LLC restated a “buy” rating and issued a $700.00 target price on shares of Netflix in a research note on Monday, June 17th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $639.57.

Insider Activity

In other Netflix news, Chairman Reed Hastings sold 22,526 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the completion of the sale, the chairman now owns 57 shares of the company’s stock, valued at approximately $38,217.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Netflix news, CEO Gregory K. Peters sold 4,783 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $675.00, for a total value of $3,228,525.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $8,835,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 22,526 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $670.49, for a total value of $15,103,457.74. Following the transaction, the chairman now owns 57 shares in the company, valued at approximately $38,217.93. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,385 shares of company stock valued at $44,469,351. 1.76% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Netflix

Several hedge funds have recently made changes to their positions in the company. Valued Wealth Advisors LLC lifted its position in Netflix by 80.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 20 shares during the period. Indiana Trust & Investment Management CO grew its stake in shares of Netflix by 112.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after buying an additional 28 shares during the last quarter. VitalStone Financial LLC increased its position in Netflix by 933.3% during the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after buying an additional 56 shares in the last quarter. Scarborough Advisors LLC purchased a new position in Netflix during the fourth quarter valued at $32,000. Finally, Beaird Harris Wealth Management LLC boosted its holdings in Netflix by 1,550.0% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 62 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Netflix Stock Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07. The business has a 50 day moving average price of $648.59 and a 200 day moving average price of $595.44. The stock has a market capitalization of $292.07 billion, a PE ratio of 47.03, a PEG ratio of 1.48 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. During the same period last year, the business earned $2.88 EPS. Netflix’s revenue was up 14.8% compared to the same quarter last year. As a group, equities research analysts expect that Netflix, Inc. will post 18.31 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.