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

Shares of Netflix, Inc. (NASDAQ:NFLX) traded up 3% during mid-day trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $1,025.00 to $1,150.00. JPMorgan Chase & Co. currently has an overweight 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 have also recently weighed in on NFLX. Guggenheim reissued a “buy” rating and set a $1,150.00 price objective (up from $1,100.00) on shares of Netflix in a research note on Friday. BMO Capital Markets reissued an “outperform” rating and set a $1,200.00 price target (up previously from $1,175.00) on shares of Netflix in a research report on Friday. Barclays upped their price objective on Netflix from $900.00 to $1,000.00 and gave the company an “equal weight” rating in a research report on Monday. Phillip Securities downgraded shares of Netflix from a “hold” rating to a “moderate sell” rating in a research note on Friday, January 24th. Finally, UBS Group lowered their price target on shares of Netflix from $1,150.00 to $1,140.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Nine analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,066.24.

Insider Transactions at Netflix

In other Netflix news, Director Strive Masiyiwa sold 2,813 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total transaction of $2,835,138.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory K. Peters sold 102,228 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the completion of the sale, the chief executive officer now owns 12,950 shares in the company, valued at approximately $12,700,583. This trade represents a 88.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 274,312 shares of company stock valued at $267,919,297. 1.76% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Netflix

A number of institutional investors have recently made changes to their positions in NFLX. Halbert Hargrove Global Advisors LLC raised 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. Pathway Financial Advisers LLC raised its stake in 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 acquiring an additional 14 shares during the period. Brown Shipley& Co Ltd bought a new position in Netflix in the fourth quarter worth about $27,000. Transce3nd LLC acquired a new position in Netflix in the fourth quarter valued at approximately $32,000. Finally, Newton One Investments LLC bought a new position in shares of Netflix during the fourth quarter valued at approximately $34,000. 80.93% of the stock is currently owned by institutional investors.

Netflix Price Performance

The firm has a market capitalization of $428.04 billion, a price-to-earnings ratio of 50.46, a PEG ratio of 2.12 and a beta of 1.55. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average price of $954.87 and a two-hundred day moving average price of $894.38.

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 company had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same period last year, the business posted $8.28 earnings per share. As a group, research analysts forecast that Netflix, Inc. will post 24.58 EPS 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.