Shares of Netflix, Inc. (NASDAQ:NFLX - Get Free Report) were up 1.7% on Thursday after UBS Group raised their price target on the stock from $825.00 to $1,040.00. UBS Group currently has a buy rating on the stock. Netflix traded as high as $912.62 and last traded at $905.04. Approximately 829,008 shares were traded during trading, a decline of 77% from the average daily volume of 3,600,280 shares. The stock had previously closed at $889.55.
A number of other brokerages also recently issued reports on NFLX. Wolfe Research reaffirmed an "outperform" rating on shares of Netflix in a research report on Friday, October 18th. Wells Fargo & Company upped their price target on Netflix from $758.00 to $797.00 and gave the stock an "overweight" rating in a research report on Friday, October 18th. China Renaissance initiated coverage on Netflix in a research report on Thursday, September 5th. They issued a "hold" rating and a $680.00 price objective for the company. Piper Sandler reaffirmed an "overweight" rating and set a $840.00 target price (up from $800.00) on shares of Netflix in a research report on Friday, October 18th. Finally, Bank of America increased their price target on Netflix from $800.00 to $1,000.00 and gave the company a "buy" rating in a research note on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, Netflix currently has an average rating of "Moderate Buy" and a consensus price target of $807.70.
Check Out Our Latest Analysis on Netflix
Insider Buying and Selling
In other news, Chairman Reed Hastings sold 48,363 shares of the business's stock in a transaction dated 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 sale, the chairman now owns 114 shares of the company's stock, valued at $102,212.40. The trade was a 99.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David A. Hyman sold 267 shares of Netflix stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value 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. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 164,977 shares of company stock valued at $129,317,467. 1.76% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Denver PWM LLC acquired a new stake in shares of Netflix in the second quarter valued at about $25,000. RPg Family Wealth Advisory LLC purchased a new position in Netflix in the third quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network's stock valued at $34,000 after buying an additional 42 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in shares of Netflix during the 3rd quarter worth approximately $37,000. Finally, Summit Securities Group LLC purchased a new position in shares of Netflix during the second quarter worth $38,000. 80.93% of the stock is owned by institutional investors and hedge funds.
Netflix Stock Performance
The company has a market capitalization of $385.58 billion, a price-to-earnings ratio of 51.05, a P/E/G ratio of 1.77 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a 50-day simple moving average of $825.60 and a two-hundred day simple moving average of $725.33.
Netflix (NASDAQ:NFLX - Get Free Report) last issued 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. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. On average, sell-side analysts anticipate that Netflix, Inc. will post 19.78 EPS for the current fiscal year.
About Netflix
(
Get Free Report)
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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