Netflix (NASDAQ:NFLX) Trading 2.8% Higher on Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX) shot up 2.8% during 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. 998,812 shares changed hands during trading, a decline of 72% from the average session 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. BMO Capital Markets reaffirmed an “outperform” rating and issued a $825.00 price objective (up previously from $770.00) on shares of Netflix in a report on Friday, October 18th. Citigroup lifted their price target on Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Wedbush reissued an “outperform” rating and issued a $950.00 price objective (up from $800.00) on shares of Netflix in a report on Monday, November 18th. Needham & Company LLC upped their target price on Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Macquarie reissued an “outperform” rating and issued a $795.00 price target on shares of Netflix in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $787.85.

Insider Buying and Selling at Netflix

In other news, Director Anne M. Sweeney sold 589 shares of Netflix stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the sale, the chairman now directly owns 114 shares in the company, valued at approximately $102,212.40. This trade represents a 99.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 209,155 shares of company stock valued at $159,682,799 over the last 90 days. 1.76% of the stock is owned by insiders.

Hedge Funds Weigh In On Netflix

Institutional investors and hedge funds have recently modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of Netflix during the 3rd quarter worth approximately $25,000. Denver PWM LLC purchased a new position in shares of Netflix during the second quarter worth about $25,000. Proffitt & Goodson Inc. increased its position in shares of Netflix by 380.0% during the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after purchasing an additional 42 shares during the last quarter. Finally, AlphaMark Advisors LLC lifted its holdings in shares of Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after purchasing an additional 45 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Up 2.4 %

The stock has a market cap of $399.60 billion, a PE ratio of 53.14, a P/E/G ratio of 1.80 and a beta of 1.27. The business has a 50 day moving average of $801.16 and a 200-day moving average of $714.44. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping the consensus estimate of $5.09 by $0.31. The business had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. Equities research analysts predict 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.