Netflix (NASDAQ:NFLX) Stock Price Up 1.9% – Here’s Why

Netflix, Inc. (NASDAQ:NFLX)’s share price shot up 1.9% during trading on Friday . The stock traded as high as $859.79 and last traded at $858.49. 1,137,965 shares were traded during mid-day trading, a decline of 62% from the average session volume of 2,983,082 shares. The stock had previously closed at $842.37.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NFLX. Piper Sandler increased their target price on Netflix from $840.00 to $950.00 and gave the stock an “overweight” rating in a research report on Tuesday. Benchmark raised their target price on shares of Netflix from $555.00 to $720.00 and gave the stock a “sell” rating in a research report on Friday, January 3rd. UBS Group upped their price target on shares of Netflix from $825.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Wells Fargo & Company lifted their price target on shares of Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, Wolfe Research restated an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Netflix has an average rating of “Moderate Buy” and an average target price of $845.06.

Netflix Stock Up 2.6 %

The firm has a market cap of $369.28 billion, a P/E ratio of 48.85, a PEG ratio of 1.35 and a beta of 1.27. The firm’s 50-day moving average price is $882.41 and its 200 day moving average price is $756.61. 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 earnings results 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. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The company had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. On average, equities research analysts expect that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Theodore A. Sarandos sold 1,278 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $767.05, for a total value of $980,289.90. Following the transaction, the chief executive officer now directly owns 2,556 shares in the company, valued at approximately $1,960,579.80. This trade represents a 33.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard N. Barton sold 5,698 shares of Netflix stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $756.00, for a total transaction of $4,307,688.00. Following the completion of the transaction, the director now directly owns 246 shares of the company’s stock, valued at $185,976. This trade represents a 95.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 152,198 shares of company stock worth $127,616,898 over the last ninety days. 1.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Netflix

Several large investors have recently added to or reduced their stakes in NFLX. Bradley Foster & Sargent Inc. CT increased its holdings in shares of Netflix by 55.1% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 1,556 shares of the Internet television network’s stock worth $1,050,000 after acquiring an additional 553 shares during the period. Argent Trust Co increased its stake in shares of Netflix by 14.7% in the second quarter. Argent Trust Co now owns 2,992 shares of the Internet television network’s stock valued at $2,019,000 after purchasing an additional 383 shares during the period. Glass Jacobson Investment Advisors llc raised its holdings in shares of Netflix by 187.6% during the second quarter. Glass Jacobson Investment Advisors llc now owns 440 shares of the Internet television network’s stock valued at $297,000 after buying an additional 287 shares during the last quarter. Intrepid Financial Planning Group LLC bought a new position in Netflix in the 2nd quarter worth approximately $218,000. Finally, MRP Capital Investments LLC bought a new position in Netflix in the 2nd quarter worth approximately $769,000. 80.93% of the stock is owned by institutional investors and hedge funds.

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.