Netflix (NASDAQ:NFLX) Trading Up 3% Following Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX) shot up 3% during trading on Monday after Macquarie raised their price target on the stock from $1,150.00 to $1,200.00. Macquarie currently has an outperform rating on the stock. Netflix traded as high as $1,019.00 and last traded at $1,001.79. 3,998,762 shares traded hands during trading, an increase of 9% from the average session volume of 3,675,732 shares. The stock had previously closed at $973.03.

A number of other brokerages also recently issued reports on NFLX. Sanford C. Bernstein raised Netflix from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $975.00 to $1,200.00 in a research report on Friday, January 24th. JPMorgan Chase & Co. upped their target price on Netflix from $1,025.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Monday. Piper Sandler started coverage on Netflix in a report on Thursday, April 17th. They issued an “overweight” rating and a $1,100.00 price target for the company. Morgan Stanley upped their price objective on shares of Netflix from $1,150.00 to $1,200.00 and gave the company an “overweight” rating in a report on Monday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $1,126.00 price objective on shares of Netflix in a research report on Thursday, April 17th. Nine analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,070.65.

Insider Transactions at Netflix

In related news, Director Strive Masiyiwa sold 2,813 shares of Netflix stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $1,007.87, for a total value of $2,835,138.31. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jay C. Hoag sold 617 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total value of $604,481.07. The disclosure for this sale can be found here. Insiders sold 274,312 shares of company stock worth $267,919,297 over the last 90 days. 1.76% of the stock is currently owned by insiders.

Institutional Trading of Netflix

A number of institutional investors have recently bought and sold shares of the company. Halbert Hargrove Global Advisors LLC grew its stake in Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock valued at $25,000 after acquiring an additional 13 shares during the last quarter. Brown Shipley& Co Ltd purchased a new position in shares of Netflix during the 4th quarter worth approximately $27,000. Pathway Financial Advisers LLC raised its position in shares of Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 14 shares during the last quarter. Transce3nd LLC acquired a new stake in Netflix during the 4th quarter valued at $32,000. Finally, Newton One Investments LLC purchased a new position in Netflix during the fourth quarter worth $34,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Price Performance

The firm has a market capitalization of $422.59 billion, a PE ratio of 49.82, a P/E/G ratio of 2.12 and a beta of 1.55. The company has a 50-day moving average price of $954.08 and a 200-day moving average price of $896.26. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping the consensus estimate of $5.74 by $0.87. The firm had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same period in the previous year, the company earned $8.28 EPS. Sell-side analysts forecast that Netflix, Inc. will post 24.58 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.