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

Netflix, Inc. (NASDAQ:NFLX - Get Free Report) shares saw strong trading volume on Monday after Phillip Securities upgraded the stock from a moderate sell rating to a hold rating. 1,875,546 shares traded 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.

NFLX has been the topic of several other research reports. UBS Group reduced their price target on shares of Netflix from $1,150.00 to $1,140.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Seaport Res Ptn upgraded shares of Netflix from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 15th. Bank of America increased their target price on Netflix from $1,000.00 to $1,175.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Macquarie upped their target price on shares of Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a report on Monday. Finally, JPMorgan Chase & Co. increased their price objective on Netflix from $1,025.00 to $1,150.00 and gave the company an "overweight" rating in a report on Monday. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,072.12.

Insider Activity

In other news, CEO Gregory K. Peters sold 4,939 shares of Netflix stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,030.00, for a total transaction of $5,087,170.00. Following the sale, the chief executive officer now directly owns 12,950 shares of the company's stock, valued at approximately $13,338,500. This trade represents a 27.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David A. Hyman sold 41,121 shares of the company's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $979.01, for a total value of $40,257,870.21. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at $30,946,506.10. The trade was a 56.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 273,855 shares of company stock valued at $267,474,816. 1.76% of the stock is owned by insiders.

Hedge Funds Weigh In On Netflix

Institutional investors have recently modified their holdings of the company. Halbert Hargrove Global Advisors LLC grew its position in shares of Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after acquiring an additional 13 shares during the period. Pathway Financial Advisers LLC lifted its holdings in shares of Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock worth $27,000 after acquiring an additional 14 shares during the last quarter. Brown Shipley& Co Ltd bought a new position in Netflix during the fourth quarter valued at approximately $27,000. Transce3nd LLC bought a new stake in shares of Netflix in the 4th quarter valued at about $32,000. Finally, Newton One Investments LLC purchased a new stake in shares of Netflix during the fourth quarter worth about $34,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Trading Up 0.4 %

The firm has a market cap of $471.04 billion, a P/E ratio of 55.56, a PEG ratio of 2.12 and a beta of 1.55. The firm's fifty day moving average is $954.61 and its two-hundred day moving average is $901.03. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating the consensus estimate of $5.74 by $0.87. The firm had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same period last year, the company earned $8.28 earnings per share. Analysts predict 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.