Netflix (NASDAQ:NFLX) Sets New 12-Month High Following Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX)’s stock price hit a new 52-week high during trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $850.00 to $1,010.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Netflix traded as high as $935.47 and last traded at $931.66, with a volume of 339048 shares traded. The stock had previously closed at $913.35.

Other equities research analysts have also issued reports about the stock. UBS Group upped their price target on shares of Netflix from $750.00 to $825.00 and gave the company a “buy” rating in a report on Friday, October 18th. Needham & Company LLC increased their target price on shares of Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. TD Cowen increased their target price on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, Citigroup increased their target price on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $787.85.

Insider Activity

In other Netflix news, Chairman Reed Hastings sold 45,290 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the transaction, the chairman now directly owns 85 shares in the company, valued at $60,023.60. This represents a 99.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David A. Hyman sold 267 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the transaction, the insider now owns 31,610 shares in the company, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 165,405 shares of company stock worth $129,623,487. 1.76% of the stock is currently owned by company insiders.

Institutional Trading of Netflix

A number of institutional investors and hedge funds have recently modified their holdings of NFLX. International Assets Investment Management LLC increased its holdings in shares of Netflix by 116,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after acquiring an additional 5,748,200 shares during the period. Assenagon Asset Management S.A. grew its position in Netflix by 154.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after buying an additional 642,920 shares in the last quarter. State Street Corp grew its position in Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after buying an additional 426,740 shares in the last quarter. Jennison Associates LLC grew its position in Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after buying an additional 316,594 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in Netflix in the 3rd quarter valued at about $222,871,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Up 2.5 %

The stock’s 50-day moving average is $801.16 and its 200-day moving average is $714.44. The stock has a market cap of $400.34 billion, a P/E ratio of 53.00, a price-to-earnings-growth ratio of 1.80 and a beta of 1.27. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating the consensus estimate of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The company had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. As a group, research analysts anticipate that Netflix, Inc. will post 19.78 earnings per share 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.