Netflix (NASDAQ:NFLX) Reaches New 12-Month High on Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX) shares hit a new 52-week high during trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $850.00 to $1,010.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Netflix traded as high as $935.47 and last traded at $931.66, with a volume of 339048 shares. The stock had previously closed at $913.35.

Several other equities analysts have also weighed in on the company. Pivotal Research raised their target price on Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Wolfe Research reissued an “outperform” rating on shares of Netflix in a research note on Friday, October 18th. Macquarie reaffirmed an “outperform” rating and set a $795.00 target price on shares of Netflix in a research report on Friday, October 18th. The Goldman Sachs Group set a $750.00 price objective on shares of Netflix in a research note on Friday, October 18th. Finally, Wells Fargo & Company raised their target price on shares of Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and an average target price of $787.85.

Insider Activity

In related news, Chairman Reed Hastings sold 48,363 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $896.60, for a total value of $43,362,265.80. Following the completion of the sale, the chairman now owns 114 shares in the company, valued at approximately $102,212.40. This represents a 99.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jay C. Hoag sold 43,750 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $687.07, for a total value of $30,059,312.50. Following the transaction, the director now owns 95,040 shares in the company, valued at approximately $65,299,132.80. This trade represents a 31.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 209,155 shares of company stock valued at $159,682,799 in the last 90 days. 1.76% of the stock is owned by company insiders.

Hedge Funds Weigh In On Netflix

Institutional investors and hedge funds have recently bought and sold shares of the company. ORG Partners LLC grew its stake in shares of Netflix by 2,396.8% in the 2nd quarter. ORG Partners LLC now owns 1,548 shares of the Internet television network’s stock worth $1,043,000 after acquiring an additional 1,486 shares in the last quarter. AdvisorNet Financial Inc boosted its holdings in shares of Netflix by 2.5% in the 2nd quarter. AdvisorNet Financial Inc now owns 854 shares of the Internet television network’s stock worth $576,000 after buying an additional 21 shares during the last quarter. Redhawk Wealth Advisors Inc. grew its position in Netflix by 88.8% during the second quarter. Redhawk Wealth Advisors Inc. now owns 1,248 shares of the Internet television network’s stock valued at $842,000 after buying an additional 587 shares during the period. AlphaMark Advisors LLC boosted its stake in Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after acquiring an additional 45 shares during the last quarter. Finally, J.Safra Asset Management Corp increased its stake in shares of Netflix by 1,041.7% during the 2nd quarter. J.Safra Asset Management Corp now owns 137 shares of the Internet television network’s stock worth $92,000 after purchasing an additional 125 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Trading Up 2.7 %

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market capitalization of $400.77 billion, a P/E ratio of 53.14, a price-to-earnings-growth ratio of 1.80 and a beta of 1.27. The firm has a fifty day simple moving average of $801.16 and a two-hundred day simple moving average of $714.44.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.09 by $0.31. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. On average, equities research analysts anticipate that Netflix, Inc. will post 19.78 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.