Netflix (NASDAQ:NFLX) Stock Price Up 1.6% on Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX)’s share price rose 1.6% during trading on Monday after Citigroup raised their price target on the stock from $660.00 to $675.00. Citigroup currently has a neutral rating on the stock. Netflix traded as high as $649.73 and last traded at $643.51. Approximately 1,450,871 shares were traded during trading, a decline of 63% from the average daily volume of 3,943,180 shares. The stock had previously closed at $633.34.

Several other equities analysts have also recently issued reports on the stock. CICC Research initiated coverage on shares of Netflix in a research note on Thursday, May 2nd. They set an “outperform” rating and a $650.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Netflix from $525.00 to $550.00 and gave the company a “hold” rating in a research report on Monday, April 15th. Jefferies Financial Group lifted their target price on shares of Netflix from $655.00 to $780.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Piper Sandler boosted their target price on shares of Netflix from $600.00 to $650.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Finally, Pivotal Research raised their price target on Netflix from $765.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus target price of $681.21.

Insider Buying and Selling

In other news, Chairman Reed Hastings sold 18,361 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $551.54, for a total value of $10,126,825.94. Following the completion of the transaction, the chairman now owns 28 shares of the company’s stock, valued at $15,443.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Gregory K. Peters sold 1,278 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $593.81, for a total transaction of $758,889.18. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $7,772,972.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 18,361 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $551.54, for a total transaction of $10,126,825.94. Following the completion of the sale, the chairman now owns 28 shares in the company, valued at approximately $15,443.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,385 shares of company stock valued at $44,469,351. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several large investors have recently made changes to their positions in NFLX. Obermeyer Wood Investment Counsel Lllp boosted its holdings in 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 in the last quarter. Private Portfolio Partners LLC boosted its stake in Netflix by 1.7% in the 1st quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock worth $633,000 after purchasing an additional 17 shares in the last quarter. KFA Private Wealth Group LLC grew its position in Netflix by 1.9% during the 4th quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock worth $466,000 after purchasing an additional 18 shares during the last quarter. Legacy Capital Group California Inc. increased its stake in Netflix by 0.6% during the 4th quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network’s stock valued at $1,379,000 after purchasing an additional 18 shares in the last quarter. Finally, Founders Financial Alliance LLC raised its holdings 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 buying an additional 18 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Netflix Trading Down 0.7 %

The stock’s fifty day simple moving average is $656.93 and its 200-day simple moving average is $606.71. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 1.07. The firm has a market cap of $277.03 billion, a PE ratio of 44.61, a PEG ratio of 1.32 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. The company had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the business posted $3.29 EPS. On average, sell-side analysts forecast that Netflix, Inc. will post 18.99 earnings per share for the current 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.