Netflix (NASDAQ:NFLX) Sees Large Volume Increase on Analyst Upgrade

Shares of Netflix, Inc. (NASDAQ:NFLX) saw an uptick in trading volume on Monday after JPMorgan Chase & Co. raised their price target on the stock from $1,025.00 to $1,150.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. 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 subject of a number of other research reports. Wolfe Research upgraded Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price objective for the company in a report on Thursday, January 23rd. Benchmark raised Netflix from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Piper Sandler assumed coverage on shares of Netflix in a research note on Thursday. They issued an “overweight” rating and a $1,100.00 price objective for the company. Phillip Securities lowered shares of Netflix from a “hold” rating to a “moderate sell” rating in a research note on Friday, January 24th. Finally, Robert W. Baird raised their target price on shares of Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Nine analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,066.24.

Insider Buying and Selling

In related news, Director Ann Mather sold 2,682 shares of Netflix stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $973.00, for a total transaction of $2,609,586.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jay C. Hoag sold 617 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total transaction of $604,481.07. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 274,312 shares of company stock worth $267,919,297. 1.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Netflix

Several large investors have recently modified their holdings of the company. Nordea Investment Management AB boosted its position in shares of Netflix by 22.7% in the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after buying an additional 156,958 shares in the last quarter. First National Trust Co increased its stake in shares of Netflix by 1.0% during the 4th quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock worth $1,121,000 after purchasing an additional 12 shares in the last quarter. Haven Private LLC acquired a new position in shares of Netflix during the 4th quarter worth approximately $733,000. Sigma Planning Corp increased its position in Netflix by 7.4% during the fourth quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock worth $4,966,000 after buying an additional 386 shares in the last quarter. Finally, M&T Bank Corp increased its position in Netflix by 4.2% during the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after buying an additional 1,684 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Price Performance

The firm has a market capitalization of $420.34 billion, a PE ratio of 49.63, a P/E/G ratio of 2.12 and a beta of 1.55. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The company has a 50-day moving average price of $954.87 and a 200-day moving average price of $894.38.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. The business had revenue of $10.54 billion for 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 business posted $8.28 EPS. Sell-side analysts forecast that Netflix, Inc. will post 24.58 EPS 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.