Netflix, Inc. (NFLX) Shares Gap Up Following Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX) shares gapped up prior to trading on Thursday after Piper Jaffray Companies raised their price target on the stock from $166.00 to $190.00. The stock had previously closed at $154.50, but opened at $157.75. Piper Jaffray Companies currently has an overweight rating on the stock. Netflix shares last traded at $163.05, with a volume of 8,548,790 shares changing hands.

Several other analysts have also recently weighed in on NFLX. Loop Capital restated a “buy” rating and set a $159.00 price objective on shares of Netflix in a research report on Saturday, January 28th. William Blair restated an “outperform” rating on shares of Netflix in a research report on Saturday, January 28th. Vetr cut shares of Netflix from a “sell” rating to a “strong sell” rating and set a $125.93 price objective on the stock. in a research report on Monday, January 30th. MKM Partners restated a “buy” rating and set a $175.00 price objective (up previously from $165.00) on shares of Netflix in a research report on Tuesday, January 31st. Finally, Zacks Investment Research upgraded shares of Netflix from a “hold” rating to a “buy” rating and set a $159.00 price objective on the stock in a research report on Tuesday, February 21st. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty-six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $146.97.

In other Netflix news, Director Richard N. Barton sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $159.08, for a total transaction of $318,160.00. Following the transaction, the director now owns 7,082 shares of the company’s stock, valued at approximately $1,126,604.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Neil D. Hunt sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $159.62, for a total transaction of $1,596,200.00. Following the transaction, the insider now directly owns 459,952 shares in the company, valued at approximately $73,417,538.24. The disclosure for this sale can be found here. Insiders have sold a total of 385,587 shares of company stock worth $57,493,358 in the last three months. Insiders own 4.90% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Clean Yield Group purchased a new stake in Netflix during the first quarter worth $103,000. SRS Capital Advisors Inc. boosted its stake in Netflix by 3,361.9% in the first quarter. SRS Capital Advisors Inc. now owns 727 shares of the Internet television network’s stock worth $107,000 after buying an additional 706 shares in the last quarter. Harfst & Associates Inc. purchased a new stake in Netflix during the first quarter worth $109,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in Netflix during the fourth quarter worth $114,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in Netflix by 24.2% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 770 shares of the Internet television network’s stock worth $114,000 after buying an additional 150 shares in the last quarter. Institutional investors and hedge funds own 80.42% of the company’s stock.

The stock has a market cap of $70.27 billion, a price-to-earnings ratio of 210.93 and a beta of 1.27. The firm’s 50 day moving average price is $151.20 and its 200-day moving average price is $137.78. Netflix also was the recipient of unusually large options trading activity on Thursday. Stock traders acquired 15,669 call options on the company. This represents an increase of 258% compared to the typical daily volume of 4,374 call options.

Netflix (NASDAQ:NFLX) last released its earnings results on Monday, April 17th. The Internet television network reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.03. Netflix had a net margin of 2.11% and a return on equity of 7.51%. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same period in the prior year, the firm earned $0.06 earnings per share. The business’s quarterly revenue was up 34.7% compared to the same quarter last year. On average, equities analysts predict that Netflix, Inc. will post $1.04 earnings per share for the current fiscal year.

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Netflix Company Profile

Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.

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