Netflix (NASDAQ:NFLX) Trading 1.7% Higher After Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX) shares were up 1.7% 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 changed hands during mid-day trading, a decline of 77% from the average daily volume of 3,600,280 shares. The stock had previously closed at $889.55.

Other research analysts have also issued research reports about the stock. Loop Capital lowered shares of Netflix from a “buy” rating to a “hold” rating and raised their price target for the stock from $800.00 to $950.00 in a report on Monday. Bank of America raised their price objective on shares of Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft upped their target price on shares of Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Jefferies Financial Group increased their price objective on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, The Goldman Sachs Group set a $750.00 price target on Netflix in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus target price of $807.70.

Insider Activity

In other news, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the sale, the chairman now directly owns 114 shares in the company, valued at approximately $102,212.40. This trade represents a 99.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David A. Hyman sold 267 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 164,977 shares of company stock valued at $129,317,467. 1.76% of the stock is currently owned by insiders.

Institutional Trading of Netflix

Hedge funds have recently added to or reduced their stakes in the business. Denver PWM LLC bought a new position in Netflix in the second quarter worth approximately $25,000. RPg Family Wealth Advisory LLC purchased a new position in Netflix during the third quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. increased its stake in 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 worth $34,000 after buying an additional 42 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of Netflix during the 3rd quarter worth $37,000. Finally, Summit Securities Group LLC acquired a new position in shares of Netflix during the 2nd quarter valued at about $38,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Price Performance

The stock has a market cap of $386.47 billion, a PE ratio of 51.17, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. The stock’s fifty day moving average is $825.60 and its 200-day moving average is $725.33. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

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