Netflix (NASDAQ:NFLX) Trading Up 2.3% After Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX) was up 2.3% during mid-day trading on Tuesday after Guggenheim raised their price target on the stock from $600.00 to $700.00. Guggenheim currently has a buy rating on the stock. Netflix traded as high as $622.20 and last traded at $620.92. Approximately 1,290,161 shares changed hands during trading, a decline of 69% from the average daily volume of 4,221,854 shares. The stock had previously closed at $607.15.

A number of other research analysts also recently issued reports on the company. Wedbush boosted their price target on Netflix from $615.00 to $725.00 and gave the company an “outperform” rating in a report on Wednesday, March 27th. Loop Capital upped their price objective on shares of Netflix from $585.00 to $700.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Barclays raised their target price on Netflix from $475.00 to $550.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. KeyCorp lifted their target price on shares of Netflix from $580.00 to $705.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Finally, Citigroup increased their target price on Netflix from $555.00 to $660.00 and gave the stock a “neutral” rating in a research note on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $603.48.

Insider Transactions at Netflix

In other news, CEO Gregory K. Peters sold 13,655 shares of the stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $543.80, for a total transaction of $7,425,589.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares in the company, valued at approximately $7,118,342. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Gregory K. Peters sold 13,655 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $543.80, for a total transaction of $7,425,589.00. Following the sale, the chief executive officer now owns 13,090 shares in the company, valued at $7,118,342. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ann Mather sold 3,673 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $600.00, for a total transaction of $2,203,800.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 268,335 shares of company stock worth $151,619,811. Company insiders own 2.45% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NFLX. Vanguard Group Inc. increased its stake in shares of Netflix by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 36,438,570 shares of the Internet television network’s stock worth $17,741,211,000 after purchasing an additional 178,286 shares during the last quarter. State Street Corp grew its holdings in Netflix by 0.4% during the first quarter. State Street Corp now owns 16,195,490 shares of the Internet television network’s stock valued at $5,595,196,000 after purchasing an additional 62,507 shares during the last quarter. Capital World Investors lifted its stake in shares of Netflix by 0.7% in the fourth quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock worth $5,718,265,000 after buying an additional 78,320 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Netflix by 11.1% during the 4th quarter. Morgan Stanley now owns 6,463,661 shares of the Internet television network’s stock worth $1,906,005,000 after buying an additional 644,162 shares during the period. Finally, Jennison Associates LLC grew its position in shares of Netflix by 40.6% in the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after purchasing an additional 1,573,978 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Up 2.2 %

The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.69. The firm has a 50-day moving average of $602.41 and a two-hundred day moving average of $508.76. The firm has a market cap of $268.66 billion, a price-to-earnings ratio of 51.70, a PEG ratio of 1.69 and a beta of 1.22.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 EPS for the quarter, missing the consensus estimate of $2.20 by ($0.09). Netflix had a net margin of 16.04% and a return on equity of 24.76%. The company had revenue of $8.83 billion for the quarter, compared to analyst estimates of $8.72 billion. During the same quarter in the previous year, the company earned $0.12 earnings per share. Netflix’s revenue for the quarter was up 12.5% compared to the same quarter last year. As a group, sell-side analysts predict that Netflix, Inc. will post 17.02 earnings per share for the current fiscal 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.