Netflix (NASDAQ:NFLX) Trading Up 1% Following Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLXGet Free Report)’s share price shot up 1% during mid-day trading on Tuesday after KeyCorp raised their price target on the stock from $707.00 to $735.00. KeyCorp currently has an overweight rating on the stock. Netflix traded as high as $693.84 and last traded at $692.90. Approximately 708,867 shares were traded during trading, a decline of 82% from the average session volume of 3,894,914 shares. The stock had previously closed at $685.74.

Other research analysts also recently issued reports about the company. Canaccord Genuity Group downgraded Netflix from a “buy” rating to a “hold” rating and reduced their target price for the stock from $720.00 to $585.00 in a research note on Friday, April 19th. Wedbush reaffirmed an “outperform” rating and issued a $725.00 price target on shares of Netflix in a report on Monday, May 20th. Morgan Stanley boosted their price target on shares of Netflix from $600.00 to $700.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Argus raised their price objective on shares of Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Finally, TD Cowen raised their price target on shares of Netflix from $725.00 to $775.00 and gave the stock a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $639.57.

View Our Latest Analysis on Netflix

Insider Activity at Netflix

In other news, insider David A. Hyman sold 268 shares of the 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 sale, the insider now directly owns 31,610 shares in the company, valued at $18,764,328.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider David A. Hyman sold 268 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $593.62, for a total value of $159,090.16. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $18,764,328.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Gregory K. Peters sold 4,783 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $675.00, for a total value of $3,228,525.00. Following the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $8,835,750. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,385 shares of company stock valued at $44,469,351. Insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several institutional investors and hedge funds have recently modified their holdings of the company. Valued Wealth Advisors LLC raised its holdings in Netflix by 80.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 20 shares during the last quarter. VitalStone Financial LLC grew its position in shares of Netflix by 933.3% in the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after purchasing an additional 56 shares during the period. Beaird Harris Wealth Management LLC increased its stake in Netflix by 1,550.0% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 62 shares during the last quarter. Scarborough Advisors LLC purchased a new position in Netflix during the fourth quarter worth about $32,000. Finally, Indiana Trust & Investment Management CO boosted its stake in Netflix by 112.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after buying an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Down 1.2 %

The firm has a fifty day simple moving average of $648.59 and a 200 day simple moving average of $595.44. 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 $292.07 billion, a PE ratio of 47.03, a PEG ratio of 1.48 and a beta of 1.27.

Netflix (NASDAQ:NFLXGet Free Report) last released its earnings results 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. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. During the same period last year, the company earned $2.88 earnings per share. The company’s quarterly revenue was up 14.8% on a year-over-year basis. Equities research analysts predict that Netflix, Inc. will post 18.31 EPS for the current year.

About Netflix

(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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