Netflix (NASDAQ:NFLX) Trading 1.9% Higher on Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX - Get Free Report) was up 1.9% during trading on Monday after Sanford C. Bernstein raised their price target on the stock from $1,200.00 to $1,390.00. Sanford C. Bernstein currently has an outperform rating on the stock. Netflix traded as high as $1,266.47 and last traded at $1,268.78. Approximately 1,139,652 shares traded hands during trading, a decline of 73% from the average daily volume of 4,243,578 shares. The stock had previously closed at $1,245.11.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. raised their target price on Netflix from $1,220.00 to $1,230.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Piper Sandler set a $1,400.00 price objective on shares of Netflix and gave the company an "overweight" rating in a report on Friday, July 11th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $1,425.00 price target (up previously from $1,200.00) on shares of Netflix in a research report on Tuesday. Needham & Company LLC set a $1,500.00 price objective on shares of Netflix and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a report on Friday, April 18th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Netflix currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,233.15.

Insider Buying and Selling at Netflix

In other news, Director Ann Mather sold 1,090 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,250.00, for a total value of $1,362,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Reed Hastings sold 9,673 shares of Netflix stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $1,329.11, for a total value of $12,856,481.03. Following the sale, the director owned 394 shares in the company, valued at $523,669.34. This represents a 96.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 186,723 shares of company stock valued at $223,307,201. 1.37% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Netflix

A number of hedge funds and other institutional investors have recently bought and sold shares of NFLX. Vanguard Group Inc. grew its holdings in shares of Netflix by 1.4% during the first quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network's stock valued at $35,433,585,000 after buying an additional 509,255 shares during the last quarter. FMR LLC lifted its position in Netflix by 1.8% in the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock valued at $18,617,081,000 after acquiring an additional 375,234 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Netflix by 2.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,732,066 shares of the Internet television network's stock valued at $10,940,505,000 after acquiring an additional 304,399 shares in the last quarter. Geode Capital Management LLC boosted its stake in Netflix by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network's stock valued at $8,287,823,000 after purchasing an additional 175,596 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Netflix by 109,524.3% in the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after purchasing an additional 8,827,662 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Netflix Stock Up 1.9%

The stock has a market cap of $542.25 billion, a PE ratio of 60.22, a PEG ratio of 2.28 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. The company has a 50 day moving average price of $1,228.61 and a two-hundred day moving average price of $1,056.00.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping analysts' consensus estimates of $5.74 by $0.87. The business had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same quarter in the previous year, the firm earned $8.28 EPS. Analysts expect that Netflix, Inc. will post 24.58 EPS for the current 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.