Netflix (NASDAQ:NFLX) Shares Up 1.4% on Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX) shot up 1.4% on Friday after Benchmark raised their price target on the stock from $440.00 to $450.00. Benchmark currently has a sell rating on the stock. Netflix traded as high as $625.79 and last traded at $619.20. 1,669,941 shares changed hands during trading, a decline of 61% from the average session volume of 4,290,116 shares. The stock had previously closed at $610.52.

A number of other brokerages have also recently issued reports on NFLX. Guggenheim lifted their price objective on Netflix from $600.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. DZ Bank upgraded Netflix from a “hold” rating to a “buy” rating and set a $600.00 price objective for the company in a research note on Thursday, January 25th. Wedbush reiterated an “outperform” rating and set a $725.00 price objective on shares of Netflix in a research note on Friday, April 19th. Pivotal Research lifted their price objective on Netflix from $765.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Finally, Bank of America lifted their price objective on Netflix from $650.00 to $700.00 and gave the company a “buy” rating in a research note on Friday, April 19th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and an average target price of $630.53.

Insider Buying and Selling at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 564 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $613.08, for a total transaction of $345,777.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Netflix news, CFO Spencer Adam Neumann sold 564 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $613.08, for a total transaction of $345,777.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ann Mather sold 3,673 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total value of $2,203,800.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 78,039 shares of company stock valued at $46,401,083. Company insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

A number of hedge funds have recently made changes to their positions in the business. Obermeyer Wood Investment Counsel Lllp boosted its stake in shares of Netflix by 2.8% in the first quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock worth $378,000 after acquiring an additional 17 shares during the period. Private Portfolio Partners LLC boosted its stake in shares of Netflix by 1.7% in the first quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock worth $633,000 after acquiring an additional 17 shares during the period. KFA Private Wealth Group LLC boosted its stake in shares of Netflix by 1.9% in the fourth quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock worth $466,000 after acquiring an additional 18 shares during the period. Legacy Capital Group California Inc. boosted its stake in shares of Netflix by 0.6% in the fourth quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network’s stock worth $1,379,000 after acquiring an additional 18 shares during the period. Finally, Founders Financial Alliance LLC boosted its stake in shares of Netflix by 2.4% in the fourth quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock worth $369,000 after acquiring an additional 18 shares during the period. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

The business has a 50 day moving average price of $604.12 and a two-hundred day moving average price of $541.35. The stock has a market cap of $267.69 billion, a P/E ratio of 43.10, a price-to-earnings-growth ratio of 1.48 and a beta of 1.23. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The company had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. During the same period in the prior year, the company earned $2.88 earnings per share. The firm’s revenue was up 14.8% on a year-over-year basis. On average, sell-side analysts forecast that Netflix, Inc. will post 18.3 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.