Netflix (NASDAQ:NFLX) Trading Up 0.4% After Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLXGet Free Report) was up 0.4% during mid-day trading on Tuesday after Loop Capital raised their price target on the stock from $700.00 to $750.00. Loop Capital currently has a buy rating on the stock. Netflix traded as high as $681.63 and last traded at $678.78. Approximately 734,038 shares changed hands during trading, a decline of 82% from the average daily volume of 4,017,485 shares. The stock had previously closed at $675.83.

NFLX has been the subject of a number of other reports. TD Cowen boosted their target price on shares of Netflix from $600.00 to $725.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Bank of America upped their price objective on shares of Netflix from $650.00 to $700.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Macquarie upped their price objective on shares of Netflix from $595.00 to $685.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 16th. Wedbush reiterated an “outperform” rating and issued a $725.00 price objective on shares of Netflix in a research report on Monday, May 20th. Finally, Canaccord Genuity Group downgraded shares of Netflix from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $720.00 to $585.00 in a research report on Friday, April 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average target price of $633.53.

Read Our Latest Stock Analysis on NFLX

Insider Activity

In other news, CFO Spencer Adam Neumann sold 564 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $613.08, for a total value of $345,777.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider David A. Hyman sold 268 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $593.62, for a total value of $159,090.16. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $18,764,328.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Spencer Adam Neumann sold 564 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $613.08, for a total transaction of $345,777.12. The disclosure for this sale can be found here. Insiders sold a total of 69,425 shares of company stock valued at $41,919,791 in the last 90 days. Company insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several large investors have recently made changes to their positions in NFLX. Columbia Trust Co 01012016 boosted its position in Netflix by 15.3% in the 4th quarter. Columbia Trust Co 01012016 now owns 1,566 shares of the Internet television network’s stock valued at $762,000 after buying an additional 208 shares during the period. Crumly & Associates Inc. boosted its position in Netflix by 4.1% in the 4th quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network’s stock valued at $1,025,000 after buying an additional 83 shares during the period. Venture Visionary Partners LLC boosted its position in Netflix by 15.4% in the 4th quarter. Venture Visionary Partners LLC now owns 9,849 shares of the Internet television network’s stock valued at $4,795,000 after buying an additional 1,318 shares during the period. Sandy Cove Advisors LLC boosted its position in Netflix by 10.6% in the 4th quarter. Sandy Cove Advisors LLC now owns 1,187 shares of the Internet television network’s stock valued at $578,000 after buying an additional 114 shares during the period. Finally, Malaga Cove Capital LLC boosted its position in Netflix by 25.4% in the 4th quarter. Malaga Cove Capital LLC now owns 1,562 shares of the Internet television network’s stock valued at $761,000 after buying an additional 316 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Price Performance

The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $292.55 billion, a PE ratio of 47.10, a PEG ratio of 1.45 and a beta of 1.26. The company’s 50-day simple moving average is $616.48 and its 200 day simple moving average is $571.10.

Netflix (NASDAQ:NFLXGet Free Report) last released its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.77. The business had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.88 EPS. On average, sell-side analysts predict that Netflix, Inc. will post 18.31 earnings per share for the current fiscal year.

Netflix Company Profile

(Get Free Report)

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.

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