Netflix (NASDAQ:NFLX) Trading 2.2% Higher After Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX) shot up 2.2% on Monday after Benchmark raised their price target on the stock from $450.00 to $545.00. Benchmark currently has a sell rating on the stock. Netflix traded as high as $664.46 and last traded at $662.08. 1,123,964 shares traded hands during trading, a decline of 71% from the average session volume of 3,883,201 shares. The stock had previously closed at $647.60.

A number of other research analysts also recently weighed in on NFLX. Macquarie upped their price target on Netflix from $595.00 to $685.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 16th. Morgan Stanley lifted their price target on shares of Netflix from $700.00 to $780.00 and gave the company an “overweight” rating in a research report on Monday. Loop Capital upped their price objective on shares of Netflix from $700.00 to $750.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Pivotal Research lifted their price objective on shares of Netflix from $765.00 to $800.00 and gave the company a “buy” rating in a report on Friday, April 19th. Finally, TD Cowen upped their target price on shares of Netflix from $725.00 to $775.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $652.14.

Insider Activity at Netflix

In other Netflix news, CEO Gregory K. Peters sold 1,278 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $593.81, for a total value of $758,889.18. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $7,772,972.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Netflix news, Chairman Reed Hastings sold 18,361 shares of Netflix stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $551.54, for a total transaction of $10,126,825.94. Following the completion of the sale, the chairman now directly owns 28 shares in the company, valued at $15,443.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gregory K. Peters sold 1,278 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $593.81, for a total transaction of $758,889.18. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $7,772,972.90. 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. Corporate insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Daymark Wealth Partners LLC raised its stake in shares of Netflix by 4.1% during the fourth quarter. Daymark Wealth Partners LLC now owns 1,592 shares of the Internet television network’s stock worth $775,000 after acquiring an additional 63 shares in the last quarter. Strategic Investment Advisors MI purchased a new position in Netflix in the 4th quarter worth $260,000. JGP Wealth Management LLC bought a new stake in Netflix in the fourth quarter worth $224,000. Aries Wealth Management purchased a new stake in Netflix during the fourth quarter valued at about $235,000. Finally, Dynamic Advisor Solutions LLC grew its stake in shares of Netflix by 2.7% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 11,926 shares of the Internet television network’s stock valued at $5,654,000 after buying an additional 311 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

The stock has a market cap of $282.87 billion, a PE ratio of 45.55, a P/E/G ratio of 1.40 and a beta of 1.27. The company has a fifty day moving average price of $653.90 and a 200 day moving average price of $600.80. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. The business had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.88 EPS. Analysts expect that Netflix, Inc. will post 18.31 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.