Netflix (NASDAQ:NFLX) Rating Increased to Outperform at Wolfe Research

Wolfe Research upgraded shares of Netflix (NASDAQ:NFLX) from a peer perform rating to an outperform rating in a research note issued to investors on Thursday, Marketbeat.com reports. They currently have $1,100.00 price target on the Internet television network’s stock.

Several other research firms have also recently commented on NFLX. Sanford C. Bernstein upped their target price on shares of Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Seaport Res Ptn raised Netflix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. KeyCorp raised their target price on Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Wednesday. Oppenheimer boosted their price target on Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Wedbush reissued an “outperform” rating and set a $1,150.00 price target (up from $950.00) on shares of Netflix in a report on Wednesday. Ten analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $996.94.

Netflix Stock Up 3.2 %

Shares of Netflix stock opened at $984.86 on Thursday. The stock has a market capitalization of $420.99 billion, a price-to-earnings ratio of 49.67, a PEG ratio of 1.41 and a beta of 1.27. Netflix has a twelve month low of $537.07 and a twelve month high of $999.00. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The business’s 50 day simple moving average is $889.11 and its 200-day simple moving average is $763.41.

Netflix (NASDAQ:NFLX) last issued its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a return on equity of 39.48% and a net margin of 22.34%. The firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10,141,900 billion. During the same period last year, the company earned $2.11 earnings per share. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. Equities research analysts forecast that Netflix will post 23.43 earnings per share for the current year.

Insider Activity

In related news, Chairman Reed Hastings sold 41,601 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $758.06, for a total transaction of $31,536,054.06. Following the completion of the sale, the chairman now directly owns 85 shares in the company, valued at approximately $64,435.10. This trade represents a 99.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Timothy M. Haley sold 11,090 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total transaction of $8,405,776.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 146,500 shares of company stock worth $123,309,210. 1.76% of the stock is owned by corporate insiders.

Institutional Trading of Netflix

Several hedge funds and other institutional investors have recently modified their holdings of NFLX. Enzi Wealth raised its stake in shares of Netflix by 3.4% during the 4th quarter. Enzi Wealth now owns 331 shares of the Internet television network’s stock worth $316,000 after purchasing an additional 11 shares in the last quarter. TCI Wealth Advisors Inc. raised its position in Netflix by 1.6% during the fourth quarter. TCI Wealth Advisors Inc. now owns 700 shares of the Internet television network’s stock valued at $624,000 after acquiring an additional 11 shares in the last quarter. Advisory Resource Group raised its position in Netflix by 0.7% during the third quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network’s stock valued at $1,238,000 after acquiring an additional 12 shares in the last quarter. Insight Wealth Strategies LLC lifted its stake in Netflix by 1.9% in the fourth quarter. Insight Wealth Strategies LLC now owns 656 shares of the Internet television network’s stock valued at $585,000 after acquiring an additional 12 shares during the last quarter. Finally, Sunflower Bank N.A. grew its position in Netflix by 2.1% in the fourth quarter. Sunflower Bank N.A. now owns 575 shares of the Internet television network’s stock worth $513,000 after acquiring an additional 12 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

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.