Netflix (NASDAQ:NFLX) Shares Up 0.5% on Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLXGet Free Report)’s share price rose 0.5% during trading on Monday after Argus raised their price target on the stock from $840.00 to $1,040.00. Argus currently has a buy rating on the stock. Netflix traded as high as $892.83 and last traded at $885.72. Approximately 1,018,376 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 2,042,210 shares. The stock had previously closed at $881.05.

A number of other research analysts have also issued reports on NFLX. Piper Sandler reiterated an “overweight” rating and issued a $840.00 price objective (up previously from $800.00) on shares of Netflix in a report on Friday, October 18th. UBS Group raised their price target on shares of Netflix from $825.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Wells Fargo & Company boosted their price objective on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Macquarie reaffirmed an “outperform” rating and set a $795.00 target price on shares of Netflix in a research report on Friday, October 18th. Finally, Morgan Stanley upped their price target on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and a consensus price target of $821.27.

Get Our Latest Stock Analysis on NFLX

Insider Activity

In related news, CEO Gregory K. Peters sold 4,186 shares of Netflix stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $750.00, for a total transaction of $3,139,500.00. Following the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $9,817,500. The trade was a 24.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy M. Haley sold 11,090 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total value of $8,405,776.40. The disclosure for this sale can be found here. Insiders sold 150,761 shares of company stock worth $125,713,484 over the last three months. 1.76% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC bought a new position in shares of Netflix during the 3rd quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after acquiring an additional 42 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in Netflix in the third quarter worth $37,000. FSA Wealth Management LLC bought a new position in Netflix in the 3rd quarter valued at $38,000. Finally, First Personal Financial Services purchased a new stake in shares of Netflix during the 3rd quarter valued at $40,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Down 0.3 %

The stock has a 50 day moving average price of $871.62 and a 200 day moving average price of $749.78. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market capitalization of $375.82 billion, a P/E ratio of 49.76, a PEG ratio of 1.77 and a beta of 1.27.

Netflix (NASDAQ:NFLXGet Free Report) last posted its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 forecast that Netflix, Inc. will post 19.78 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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