Netflix (NASDAQ:NFLX) Hits New 1-Year High After Analyst Upgrade

Shares of Netflix, Inc. (NASDAQ:NFLX) hit a new 52-week high 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 $935.47 and last traded at $931.66, with a volume of 339048 shares trading hands. The stock had previously closed at $913.35.

A number of other research analysts have also recently commented on the company. Bank of America boosted their price objective on Netflix from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Sanford C. Bernstein lifted their price objective on shares of Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. UBS Group upped their target price on shares of Netflix from $750.00 to $825.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Wells Fargo & Company lifted their price target 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. Finally, The Goldman Sachs Group set a $750.00 price objective on shares of Netflix in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $787.85.

Insider Activity at Netflix

In related news, CEO Gregory K. Peters sold 4,392 shares of Netflix stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total transaction of $3,184,200.00. Following the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $9,490,250. The trade was a 25.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David A. Hyman sold 267 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at approximately $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 209,155 shares of company stock worth $159,682,799 in the last ninety days. 1.76% of the stock is owned by insiders.

Hedge Funds Weigh In On Netflix

Hedge funds have recently made changes to their positions in the business. Advisory Resource Group grew its holdings in shares of Netflix by 0.7% in the 3rd quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network’s stock worth $1,238,000 after acquiring an additional 12 shares during the last quarter. New World Advisors LLC grew its position in Netflix by 2.0% during the 3rd quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock worth $514,000 after purchasing an additional 14 shares in the last quarter. Heartland Bank & Trust Co raised its stake in Netflix by 0.9% during the 2nd quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock valued at $1,195,000 after purchasing an additional 15 shares during the period. Cedrus LLC lifted its holdings in shares of Netflix by 0.8% in the third quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock valued at $1,263,000 after purchasing an additional 15 shares in the last quarter. Finally, Capstone Triton Financial Group LLC boosted its position in shares of Netflix by 0.6% in the third quarter. Capstone Triton Financial Group LLC now owns 2,421 shares of the Internet television network’s stock worth $1,717,000 after buying an additional 15 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Up 2.7 %

The business has a fifty day moving average price of $801.16 and a two-hundred day moving average price of $714.44. The firm has a market cap of $400.77 billion, a PE ratio of 53.14, a P/E/G ratio of 1.80 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results 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 analyst estimates of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. On average, analysts anticipate that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Netflix Company Profile

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.