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

Netflix, Inc. (NASDAQ:NFLX - Get Free Report)'s stock price shot up 1.9% during mid-day trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $1,220.00 to $1,230.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Netflix traded as high as $1,266.47 and last traded at $1,268.78. 1,139,652 shares were traded during mid-day trading, a decline of 73% from the average session volume of 4,243,578 shares. The stock had previously closed at $1,245.11.

NFLX has been the topic of several other reports. Needham & Company LLC set a $1,500.00 price target on shares of Netflix and gave the stock a "buy" rating in a research note on Friday. Oppenheimer upped their price objective on shares of Netflix from $1,200.00 to $1,425.00 and gave the company an "outperform" rating in a research note on Thursday, June 12th. Pivotal Research restated a "buy" rating on shares of Netflix in a research report on Thursday. Piper Sandler set a $1,150.00 price target on Netflix and gave the company an "overweight" rating in a report on Monday, April 21st. Finally, Bank of America increased their price target on Netflix from $1,175.00 to $1,490.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,220.58.

Insider Buying and Selling

In other Netflix news, Director Strive Masiyiwa sold 290 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $1,336.54, for a total value of $387,596.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $1,307.22, for a total transaction of $3,400,079.22. Following the completion of the transaction, the chief financial officer directly owned 3,691 shares of the company's stock, valued at approximately $4,824,949.02. The trade was a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 186,723 shares of company stock valued at $223,307,201 over the last three months. Company insiders own 1.37% of the company's stock.

Institutional Trading of Netflix

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Halbert Hargrove Global Advisors LLC boosted its stake 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 buying an additional 13 shares during the last quarter. Brown Shipley& Co Ltd acquired a new stake in Netflix in the fourth quarter valued at $27,000. Transce3nd LLC bought a new position in Netflix during the 4th quarter valued at $32,000. Copia Wealth Management bought a new position in Netflix during the 4th quarter valued at $37,000. Finally, Flaharty Asset Management LLC acquired a new position in Netflix during the 1st quarter worth $37,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Price Performance

The company's 50-day moving average price is $1,221.70 and its two-hundred day moving average price is $1,050.73. The company has a market cap of $538.44 billion, a P/E ratio of 59.88, a P/E/G ratio of 2.25 and a beta of 1.59. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58.

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

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