Netflix (NASDAQ:NFLX) shares rise 1.5% after analyst upgrade

The stock price of Netflix, Inc. (NASDAQ:NFLX – Get Free Report) rose 1.5% in afternoon trading on Wednesday after Loop Capital raised their price target on the stock from $700.00 to $750.00. Loop Capital currently has a buy rating on the stock. Netflix was trading at $687.06 and last traded at $685.67. During afternoon trading, 2,943,775 shares changed hands, up 14% from the average session volume of 2,571,166 shares. The stock previously closed at $675.83.

Other stock analysts have also issued research reports on the company. Guggenheim raised their price target on Netflix from $600.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16. JPMorgan Chase & Co. raised his price target on Netflix from $610.00 to $650.00 and gave the stock an “overweight” rating in a research note on Monday, April 8. TD Cowen raised their price objective on Netflix from $600.00 to $725.00 and gave the stock a “buy” rating in a research note on Monday, April 8. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research note on Monday, February 26th. Finally, Piper Sandler raised their price objective on Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, April 12. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $633.53.

Read our latest research report on Netflix

Insider activity at Netflix

In other Netflix news: Chairman Reed Hastings sold 20,566 shares of Netflix stock in a transaction dated Monday, April 1. The stock sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the completion of the transaction, the Chairman now owns 28 shares of the company’s stock, valued at approximately $17,091.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission and available through the SEC’s website. In other Netflix news, CEO Gregory K. Peters sold 4,783 shares of the company’s stock in a transaction on Friday, June 14. The shares sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the sale, the CEO now owns 13,090 shares of the company’s stock, valued at approximately $8,835,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Reed Hastings sold 20,566 shares of the company’s stock in a transaction on Monday, April 1. The shares were sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the sale, the chairman now directly owns 28 shares in the company, valued at approximately $17,091.76. The explanation of this sale can be found here. Insiders have sold 69,425 company shares worth $41,919,791 in the last three months. Corporate insiders own 1.76% of the company’s shares.

Institutional inflow and outflow

Institutional investors have recently increased or decreased their stakes in the company. Spartan Planning & Wealth Management bought a new stake in Netflix stock worth about $26,000 in the third quarter. Valued Wealth Advisors LLC grew its holdings in shares of Netflix by 80.0% in the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet TV Network’s stock worth $27,000 after purchasing an additional 20 shares during the period. VitalStone Financial LLC grew its holdings in shares of Netflix by 933.3% in the fourth quarter. VitalStone Financial LLC now owns 62 shares of the internet television network’s stock worth $30,000 after purchasing an additional 56 shares during the period. Beaird Harris Wealth Management LLC increased its holdings in shares of Netflix by 1,550.0% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the internet television network’s stock worth $32,000 after purchasing an additional 62 shares during the period. Finally, Scarborough Advisors LLC purchased a new stake in shares of Netflix in the fourth quarter worth approximately $32,000. Institutional investors own 80.93% of the company’s shares.

Netflix is ​​trading 1.5% higher

The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The stock’s fifty-day moving average price is $619.18 and its two-hundred-day moving average price is $573.44. The company has a market cap of $295.52 billion, a price-to-earnings ratio of 47.58, a price-to-earnings-growth ratio of 1.46, and a beta of 1.26.

Netflix (NASDAQ:NFLX – Get Free Report) last posted its quarterly earnings data on Thursday, April 18. The Internet television network reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The company had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. During the same period last year, the company posted earnings per share of $2.88. Netflix’s quarterly revenue increased 14.8% compared to the same quarter last year. Sell-side analysts expect Netflix, Inc. will post earnings per share of 18.31 for the current year.

Netflix company profile

(Get a free report)

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films and games in different genres and languages. The company also offers members the ability to receive streaming content through a variety of Internet-connected devices, including TVs, digital video players, TV set-top boxes and mobile devices.

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