Wolfe Research Upgrades Netflix (NASDAQ:NFLX) to Outperform

Netflix (NASDAQ:NFLX - Get Free Report) was upgraded by Wolfe Research from a "peer perform" rating to an "outperform" rating in a research note issued on Thursday, Marketbeat reports. The firm currently has a $1,100.00 price target on the Internet television network's stock. Wolfe Research's price target indicates a potential upside of 11.69% from the company's current price.

NFLX has been the topic of a number of other reports. StockNews.com raised Netflix from a "hold" rating to a "buy" rating in a research report on Saturday, December 21st. Deutsche Bank Aktiengesellschaft lifted their price objective on Netflix from $650.00 to $875.00 and gave the stock a "hold" rating in a report on Wednesday. Citigroup increased their target price on Netflix from $725.00 to $920.00 and gave the company a "neutral" rating in a research note on Thursday, December 5th. Loop Capital raised their price target on shares of Netflix from $925.00 to $1,000.00 and gave the stock a "hold" rating in a research report on Wednesday. Finally, UBS Group upped their price target on shares of Netflix from $1,040.00 to $1,150.00 and gave the company a "buy" rating in a report on Wednesday. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $996.94.

Netflix Stock Up 3.2 %

Netflix stock traded up $30.87 during midday trading on Thursday, hitting $984.86. 7,736,118 shares of the company were exchanged, compared to its average volume of 4,805,955. The company has a market cap of $420.99 billion, a PE ratio of 49.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.27. Netflix has a fifty-two week low of $537.07 and a fifty-two week high of $999.00. The company's fifty day moving average price is $889.11 and its 200-day moving average price is $763.41. 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 - Get Free Report) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping analysts' consensus estimates of $4.20 by $0.07. The business had revenue of $10.25 billion for the quarter, compared to analysts' expectations of $10,141,900 billion. Netflix had a net margin of 22.34% and a return on equity of 39.48%. The business's revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.11 earnings per share. On average, research analysts predict that Netflix will post 23.43 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In related news, Director Anne M. Sweeney sold 589 shares of the firm's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total transaction of $518,320.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Reed Hastings sold 48,363 shares of the company'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 transaction, the chairman now owns 114 shares in the company, valued at approximately $102,212.40. This represents a 99.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 152,198 shares of company stock valued at $127,616,898. 1.76% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Netflix

A number of hedge funds have recently modified their holdings of NFLX. DigitalBridge Group Inc. grew its stake in Netflix by 35.5% in the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network's stock valued at $24,338,000 after purchasing an additional 9,451 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Netflix by 22.7% during the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network's stock valued at $760,918,000 after buying an additional 156,958 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Netflix by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network's stock valued at $1,829,494,000 after buying an additional 29,726 shares during the last quarter. Natixis Advisors LLC grew its stake in shares of Netflix by 2.0% in the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network's stock valued at $434,398,000 after buying an additional 11,921 shares in the last quarter. Finally, M&T Bank Corp increased its holdings in Netflix by 4.2% in the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network's stock worth $29,751,000 after buying an additional 1,684 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

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.