Netflix (NASDAQ:NFLX) Stock Price Up 0.6% After Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX - Get Free Report) shares traded up 0.6% during trading on Thursday after Bank of America raised their price target on the stock from $800.00 to $1,000.00. Bank of America currently has a buy rating on the stock. Netflix traded as high as $894.77 and last traded at $888.84. 1,239,057 shares were traded during mid-day trading, a decline of 66% from the average session volume of 3,653,134 shares. The stock had previously closed at $883.85.

A number of other brokerages have also commented on NFLX. The Goldman Sachs Group set a $750.00 price objective on Netflix in a report on Friday, October 18th. Piper Sandler restated an "overweight" rating and set a $840.00 target price (up previously from $800.00) on shares of Netflix in a research report on Friday, October 18th. UBS Group raised their price target on Netflix from $750.00 to $825.00 and gave the stock a "buy" rating in a research report on Friday, October 18th. Benchmark reaffirmed a "sell" rating and issued a $545.00 target price on shares of Netflix in a report on Tuesday, October 15th. Finally, Needham & Company LLC boosted their price target on Netflix from $700.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the company's stock. According to MarketBeat.com, Netflix presently has an average rating of "Moderate Buy" and a consensus price target of $764.82.

Insider Buying and Selling

In other news, insider David A. Hyman sold 267 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the transaction, the insider now owns 31,610 shares in the company, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anne M. Sweeney sold 589 shares of the company's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 185,866 shares of company stock valued at $133,393,921. 1.76% of the stock is owned by company insiders.

Institutional Investors Weigh In On Netflix

Large investors have recently modified their holdings of the stock. State Street Corp boosted its holdings in Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network's stock worth $12,023,082,000 after buying an additional 426,740 shares during the period. Geode Capital Management LLC raised its stake in shares of Netflix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network's stock valued at $6,464,736,000 after purchasing an additional 123,029 shares during the period. Jennison Associates LLC lifted its holdings in Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network's stock worth $4,958,417,000 after purchasing an additional 316,594 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network's stock worth $4,080,522,000 after purchasing an additional 5,748,200 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Netflix by 0.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network's stock worth $3,473,571,000 after purchasing an additional 23,702 shares during the period. Hedge funds and other institutional investors own 80.93% of the company's stock.

Netflix Stock Performance

The stock has a market capitalization of $383.03 billion, a P/E ratio of 50.71, a PEG ratio of 1.68 and a beta of 1.25. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average price of $751.39 and a two-hundred day moving average price of $688.25.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.09 by $0.31. The business had revenue of $9.82 billion for the quarter, compared to analysts' expectations of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. Equities analysts expect that Netflix, Inc. will post 19.78 earnings per share 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.