Netflix (NASDAQ:NFLX) Sees Unusually-High Trading Volume Following Analyst Upgrade

Shares of Netflix, Inc. (NASDAQ:NFLX - Get Free Report) saw strong trading volume on Monday after JPMorgan Chase & Co. raised their price target on the stock from $1,025.00 to $1,150.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. 1,875,546 shares changed hands during trading, a decline of 49% from the previous session's volume of 3,668,810 shares.The stock last traded at $987.01 and had previously closed at $973.03.

Other equities research analysts have also recently issued reports about the company. BMO Capital Markets restated an "outperform" rating and issued a $1,200.00 price objective (up from $1,175.00) on shares of Netflix in a research note on Friday. Macquarie boosted their price target on shares of Netflix from $965.00 to $1,150.00 and gave the company an "outperform" rating in a research report on Wednesday, January 22nd. Sanford C. Bernstein raised Netflix from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $975.00 to $1,200.00 in a research note on Friday, January 24th. Arete Research upgraded Netflix to a "hold" rating in a research note on Thursday, January 23rd. Finally, Moffett Nathanson reiterated a "buy" rating and set a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a research report on Friday. Nine analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,066.24.

Insider Transactions at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the completion of the sale, the chief financial officer now directly owns 3,691 shares of the company's stock, valued at approximately $3,402,068.52. This represents a 41.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 25,360 shares of Netflix stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the transaction, the chairman now owns 394 shares in the company, valued at $362,933.10. This represents a 98.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 274,312 shares of company stock valued at $267,919,297. Insiders own 1.76% of the company's stock.

Hedge Funds Weigh In On Netflix

Institutional investors have recently bought and sold shares of the stock. Kingswood Wealth Advisors LLC raised its stake in Netflix by 14.0% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 5,006 shares of the Internet television network's stock worth $4,666,000 after acquiring an additional 615 shares during the period. S. R. Schill & Associates bought a new stake in shares of Netflix during the 1st quarter valued at $270,000. Wolf Group Capital Advisors bought a new position in Netflix in the 1st quarter worth $336,000. Cornerstone Wealth Management LLC increased its stake in Netflix by 5.8% in the 1st quarter. Cornerstone Wealth Management LLC now owns 2,938 shares of the Internet television network's stock worth $2,740,000 after buying an additional 160 shares in the last quarter. Finally, Shepherd Financial Partners LLC raised its holdings in Netflix by 4.5% during the first quarter. Shepherd Financial Partners LLC now owns 305 shares of the Internet television network's stock valued at $284,000 after acquiring an additional 13 shares during the period. 80.93% of the stock is owned by institutional investors.

Netflix Price Performance

The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a 50-day moving average of $954.87 and a 200-day moving average of $894.38. The stock has a market cap of $420.34 billion, a PE ratio of 49.63, a PEG ratio of 2.12 and a beta of 1.55.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping the consensus estimate of $5.74 by $0.87. The business had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same quarter in the previous year, the company earned $8.28 EPS. Research analysts predict that Netflix, Inc. will post 24.58 EPS for the current 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.

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