Netflix (NASDAQ:NFLX) Reaches New 1-Year High on Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX) shares reached a new 52-week high on Saturday after Robert W. Baird raised their price target on the stock from $1,200.00 to $1,300.00. Robert W. Baird currently has an outperform rating on the stock. Netflix traded as high as $1,196.50 and last traded at $1,191.53, with a volume of 4681460 shares trading hands. The stock had previously closed at $1,177.98.

Other research analysts also recently issued reports about the stock. KeyCorp increased their price objective on shares of Netflix from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. JPMorgan Chase & Co. raised their price target on shares of Netflix from $1,025.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Arete Research upgraded shares of Netflix to a “hold” rating in a research report on Thursday, January 23rd. Wolfe Research upgraded shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price target on the stock in a research report on Thursday, January 23rd. Finally, Benchmark restated a “hold” rating on shares of Netflix in a research report on Monday, April 21st. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,093.39.

Insider Transactions at Netflix

In other news, CAO Jeffrey William Karbowski sold 160 shares of Netflix stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $1,000.00, for a total value of $160,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ann Mather sold 1,358 shares of Netflix stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $1,150.00, for a total transaction of $1,561,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 132,868 shares of company stock valued at $138,483,256 over the last ninety days. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Institutional investors have recently made changes to their positions in the stock. Halbert Hargrove Global Advisors LLC boosted its holdings in shares of Netflix by 100.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock worth $25,000 after purchasing an additional 13 shares during the period. Brown Shipley& Co Ltd acquired a new stake in shares of Netflix during the fourth quarter worth approximately $27,000. Pathway Financial Advisers LLC boosted its holdings in shares of Netflix by 82.4% during the fourth 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 period. Transce3nd LLC acquired a new stake in Netflix in the fourth quarter valued at approximately $32,000. Finally, Newton One Investments LLC acquired a new stake in Netflix in the fourth quarter valued at approximately $34,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Price Performance

The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a market capitalization of $507.08 billion, a price-to-earnings ratio of 60.09, a PEG ratio of 2.12 and a beta of 1.58. The stock’s 50 day simple moving average is $1,009.34 and its 200-day simple moving average is $948.26.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 earnings per share. On average, analysts expect that Netflix, Inc. will post 24.58 EPS 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.