Netflix (NASDAQ:NFLX) Trading Up 2.3% Following Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX)’s stock price was up 2.3% during trading on Tuesday after Guggenheim raised their price target on the stock from $600.00 to $700.00. Guggenheim currently has a buy rating on the stock. Netflix traded as high as $622.20 and last traded at $620.92. Approximately 1,290,161 shares traded hands during trading, a decline of 69% from the average daily volume of 4,221,854 shares. The stock had previously closed at $607.15.

Other research analysts have also recently issued reports about the stock. Benchmark lifted their target price on shares of Netflix from $350.00 to $425.00 and gave the stock a “sell” rating in a report on Friday, January 19th. Jefferies Financial Group lifted their target price on shares of Netflix from $580.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, March 12th. BMO Capital Markets lifted their target price on shares of Netflix from $566.00 to $638.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Morgan Stanley lifted their target price on shares of Netflix from $600.00 to $700.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Finally, Barclays lifted their target price on shares of Netflix from $475.00 to $550.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $603.48.

Insider Transactions at Netflix

In other news, insider David A. Hyman sold 267 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total value of $148,454.67. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $17,575,476.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider David A. Hyman sold 267 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total value of $148,454.67. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $17,575,476.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Theodore A. Sarandos sold 68,957 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the transaction, the chief executive officer now directly owns 1,278 shares of the company’s stock, valued at $717,379.74. The disclosure for this sale can be found here. Insiders sold a total of 268,335 shares of company stock valued at $151,619,811 over the last three months. Corporate insiders own 2.45% of the company’s stock.

Hedge Funds Weigh In On Netflix

Institutional investors have recently bought and sold shares of the stock. Columbia Trust Co 01012016 grew its stake in Netflix by 15.3% during the fourth quarter. Columbia Trust Co 01012016 now owns 1,566 shares of the Internet television network’s stock valued at $762,000 after acquiring an additional 208 shares in the last quarter. Crumly & Associates Inc. grew its stake in shares of Netflix by 4.1% in the 4th quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network’s stock worth $1,025,000 after buying an additional 83 shares in the last quarter. Venture Visionary Partners LLC grew its stake in shares of Netflix by 15.4% in the 4th quarter. Venture Visionary Partners LLC now owns 9,849 shares of the Internet television network’s stock worth $4,795,000 after buying an additional 1,318 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Netflix by 142.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 667,597 shares of the Internet television network’s stock worth $252,085,000 after buying an additional 392,427 shares in the last quarter. Finally, Smith Anglin Financial LLC grew its stake in shares of Netflix by 7.7% in the 3rd quarter. Smith Anglin Financial LLC now owns 546 shares of the Internet television network’s stock worth $206,000 after buying an additional 39 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Up 1.7 %

The firm has a market capitalization of $267.24 billion, a PE ratio of 51.42, a PEG ratio of 1.69 and a beta of 1.22. The business’s 50 day simple moving average is $603.65 and its 200 day simple moving average is $510.44. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.69.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Tuesday, January 23rd. The Internet television network reported $2.11 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.09). Netflix had a return on equity of 24.76% and a net margin of 16.04%. The business had revenue of $8.83 billion during the quarter, compared to analysts’ expectations of $8.72 billion. During the same period in the previous year, the business earned $0.12 earnings per share. The business’s quarterly revenue was up 12.5% on a year-over-year basis. On average, equities research analysts forecast that Netflix, Inc. will post 17.02 earnings per share 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.