Netflix (NASDAQ:NFLX) Shares Up 2.8% After Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX)’s share price rose 2.8% during mid-day 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 $940.01 and last traded at $939.05. Approximately 998,812 shares changed hands during trading, a decline of 72% from the average daily volume of 3,622,117 shares. The stock had previously closed at $913.35.

NFLX has been the subject of a number of other research reports. Pivotal Research upped their target price on Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Sanford C. Bernstein upped their target price on Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. BMO Capital Markets reaffirmed an “outperform” rating and set a $825.00 target price (up previously from $770.00) on shares of Netflix in a research report on Friday, October 18th. Wedbush reiterated an “outperform” rating and set a $950.00 price target (up from $800.00) on shares of Netflix in a report on Monday, November 18th. Finally, Loop Capital upped their price target on Netflix from $750.00 to $800.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and a consensus price target of $787.85.

Insiders Place Their Bets

In other news, Director Leslie J. Kilgore sold 428 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $715.00, for a total value of $306,020.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $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. Insiders sold 165,405 shares of company stock worth $129,623,487 over the last three months. 1.76% of the stock is currently owned by corporate insiders.

Institutional Trading of Netflix

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. AdvisorNet Financial Inc raised its holdings in Netflix by 2.5% during the 2nd quarter. AdvisorNet Financial Inc now owns 854 shares of the Internet television network’s stock worth $576,000 after purchasing an additional 21 shares during the last quarter. AlphaMark Advisors LLC raised its holdings in Netflix by 642.9% during the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after purchasing an additional 45 shares during the last quarter. Welch Group LLC raised its holdings in Netflix by 6.9% during the 2nd quarter. Welch Group LLC now owns 665 shares of the Internet television network’s stock worth $449,000 after purchasing an additional 43 shares during the last quarter. Bar Harbor Wealth Management bought a new stake in Netflix during the 2nd quarter worth about $283,000. Finally, Swedbank AB raised its holdings in Netflix by 28.2% during the 2nd quarter. Swedbank AB now owns 457,184 shares of the Internet television network’s stock worth $308,544,000 after purchasing an additional 100,643 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Price Performance

The stock has a market capitalization of $400.34 billion, a P/E ratio of 53.00, a PEG 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. The company has a fifty day simple moving average of $801.16 and a two-hundred day simple moving average of $714.44.

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