Netflix (NASDAQ:NFLX) Trading Up 7.3% After Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX - Get Free Report)'s share price rose 7.3% during trading on Tuesday after Phillip Securities upgraded the stock from a moderate sell rating to a hold rating. The company traded as high as $1,064.40 and last traded at $1,060.06. Approximately 3,876,003 shares changed hands during mid-day trading, an increase of 5% from the average daily volume of 3,699,365 shares. The stock had previously closed at $987.91.

Several other brokerages have also issued reports on NFLX. Deutsche Bank Aktiengesellschaft boosted their target price on Netflix from $650.00 to $875.00 and gave the company a "hold" rating in a research report on Wednesday, January 22nd. StockNews.com downgraded Netflix from a "buy" rating to a "hold" rating in a research report on Tuesday, February 4th. Needham & Company LLC reiterated a "buy" rating and set a $1,126.00 target price on shares of Netflix in a research report on Thursday, April 17th. The Goldman Sachs Group boosted their target price on shares of Netflix from $850.00 to $960.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. Finally, Piper Sandler initiated coverage on shares of Netflix in a research note on Thursday, April 17th. They issued an "overweight" rating and a $1,100.00 price target on the stock. Ten research 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. According to data from MarketBeat.com, Netflix currently has an average rating of "Moderate Buy" and an average target price of $1,072.12.

Insider Transactions at Netflix

In other news, CAO Jeffrey William Karbowski sold 160 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $1,000.00, for a total value of $160,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Reed Hastings sold 25,360 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total value of $23,360,364.00. Following the sale, the chairman now owns 394 shares of the company's stock, valued at $362,933.10. The trade was a 98.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 273,855 shares of company stock valued at $267,474,816 in the last three months. 1.76% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in shares of Netflix by 13.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network's stock worth $1,200,485,000 after purchasing an additional 198,148 shares during the last quarter. McIlrath & Eck LLC lifted its position in Netflix by 13.8% during the third quarter. McIlrath & Eck LLC now owns 247 shares of the Internet television network's stock worth $175,000 after buying an additional 30 shares in the last quarter. Advisory Resource Group boosted its stake in Netflix by 0.7% during the third quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network's stock worth $1,238,000 after buying an additional 12 shares during the last quarter. Virtu Financial LLC grew its holdings in Netflix by 356.5% in the 3rd quarter. Virtu Financial LLC now owns 13,879 shares of the Internet television network's stock valued at $9,844,000 after buying an additional 10,839 shares in the last quarter. Finally, SOA Wealth Advisors LLC. increased its stake in shares of Netflix by 1.2% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 1,515 shares of the Internet television network's stock worth $1,075,000 after acquiring an additional 18 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Netflix Stock Performance

The firm has a fifty day moving average price of $954.61 and a 200 day moving average price of $901.03. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a market cap of $468.53 billion, a PE ratio of 55.25, a price-to-earnings-growth ratio of 2.12 and a beta of 1.55.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating analysts' consensus estimates of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. During the same period in the prior year, the firm posted $8.28 earnings per share. As a group, equities research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.