Netflix (NASDAQ:NFLX) Trading Up 1.9% Following Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX)’s share price rose 1.9% during mid-day trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $1,220.00 to $1,230.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Netflix traded as high as $1,266.47 and last traded at $1,268.78. Approximately 1,139,652 shares changed hands during trading, a decline of 73% from the average daily volume of 4,243,578 shares. The stock had previously closed at $1,245.11.

NFLX has been the topic of a number of other reports. Seaport Res Ptn lowered shares of Netflix from a “strong-buy” rating to a “hold” rating in a research report on Sunday, July 6th. Wedbush reissued an “outperform” rating and issued a $1,200.00 target price on shares of Netflix in a research note on Monday, May 5th. Morgan Stanley boosted their target price on Netflix from $1,150.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. Guggenheim reaffirmed a “buy” rating and issued a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Finally, Citigroup reiterated a “neutral” rating and set a $1,250.00 price objective (up previously from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and an average price target of $1,227.39.

Insider Activity at Netflix

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $1,307.22, for a total value of $3,400,079.22. Following the completion of the transaction, the chief financial officer owned 3,691 shares of the company’s stock, valued at approximately $4,824,949.02. This trade represents a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Reed Hastings sold 9,673 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,329.11, for a total transaction of $12,856,481.03. Following the sale, the director directly owned 394 shares in the company, valued at approximately $523,669.34. The trade was a 96.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 186,723 shares of company stock valued at $223,307,201. 1.37% of the stock is owned by company insiders.

Institutional Trading of Netflix

Several hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC grew its holdings in Netflix by 8.7% during the 4th quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network’s stock worth $1,227,468,000 after acquiring an additional 110,432 shares in the last quarter. PharVision Advisers LLC purchased a new position in Netflix in the fourth quarter valued at $873,000. New England Research & Management Inc. raised its stake in Netflix by 148.5% in the first quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network’s stock valued at $1,979,000 after buying an additional 1,268 shares in the last quarter. Xcel Wealth Management LLC lifted its holdings in Netflix by 15.2% during the 1st quarter. Xcel Wealth Management LLC now owns 492 shares of the Internet television network’s stock worth $459,000 after buying an additional 65 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Netflix by 6.1% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,638 shares of the Internet television network’s stock worth $50,952,000 after buying an additional 3,137 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Trading Down 0.1%

The firm has a market capitalization of $536.33 billion, a price-to-earnings ratio of 59.56, a PEG ratio of 2.28 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20. The company has a 50-day moving average price of $1,226.71 and a 200-day moving average price of $1,054.65.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share 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 return on equity of 39.61% and a net margin of 23.07%. During the same quarter in the previous year, the business earned $8.28 earnings per share. As a group, research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal 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.