Netflix (NASDAQ:NFLX) Trading Up 0.3% Following Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX) saw a slight increase in its share price, rising by 0.3% this past Tuesday. This uptick comes after Guggenheim made the decision to raise its price target for the stock from $810.00 to $825.00, maintaining a buy rating for Netflix. During trading, the share price reached a high of $755.73 before settling at $751.68. In mid-day trading, around 444,598 shares exchanged hands, marking a significant drop of 88% compared to the average daily volume of 3,701,881 shares. The previous closing price for the stock was $749.12.

Recent Analyst Ratings

Netflix continues to attract attention from various analysts. Recently, Rosenblatt Securities increased their price target on Netflix from $635.00 to $680.00, assigning a "neutral" rating. Meanwhile, Deutsche Bank raised its target from $590.00 to $650.00 and suggested a "hold" rating. BMO Capital Markets affirmed an "outperform" rating with a new price target of $825.00, up from $770.00. Furthermore, Jefferies Financial Group raised its target price from $780.00 to $800.00, maintaining a "buy" rating. Wells Fargo & Company also adjusted their target, increasing it from $758.00 to $797.00 with an "overweight" rating. Overall, the stock has received two sell ratings, nine hold ratings, and twenty-five buy ratings, leading to a consensus rating of "Moderate Buy" with an average price target of $748.15.

Insider Trading Activity

In insider trading news, Director Richard N. Barton sold 5,698 shares of Netflix on October 25th at an average price of $756.00, amounting to a total value of approximately $4,307,688. Following this sale, Barton retains ownership of 246 shares valued at around $185,976. Another insider, David A. Hyman, sold 20,656 shares back on August 6th at an average price of $605.13, totaling approximately $12,499,565.28. Post-sale, Hyman owns 31,610 shares worth about $19,128,159.30. In the last quarter, insiders sold a total of 235,409 shares, contributing to a total value of $158,213,518, reflecting that insiders own 1.76% of the company's stock.

Institutional Investor Activity

Institutional investors have also shown interest in Netflix, with several hedge funds adjusting their holdings. Key Financial Inc increased its position by 15% during the third quarter, now holding 406 shares valued at $288,000. BluePath Capital Management LLC raised its stake by 12.6%, owning 1,456 shares worth $1,033,000. Silvant Capital Management LLC significantly boosted its stake by 1,916.1%, now holding 59,776 shares valued at $42,397,000. Farther Finance Advisors LLC lifted its position by 20.9%, bringing its total to 5,220 shares valued at $3,703,000. Lastly, Dash Acquisitions Inc. acquired a new stake in Netflix worth about $216,000. In total, hedge funds and other institutional investors own approximately 80.93% of Netflix shares.

Financial Metrics of Netflix

Netflix maintains a current ratio of 1.13 and a quick ratio of 1.13, alongside a debt-to-equity ratio of 0.62. The company's 50-day simple moving average stands at $707.88, while its 200-day average is at $660.73. Currently, Netflix has a market capitalization of $325.81 billion, with a price-to-earnings (P/E) ratio of 43.00 and a P/E/G ratio of 1.45. The stock carries a beta of 1.26, indicating its volatility compared to the market.

About Netflix

Netflix, Inc. is well known for providing entertainment services. It offers a vast library of TV shows, documentaries, films, and games in multiple genres and languages. Subscribers can access streaming content through various internet-connected devices, including smart TVs, digital media players, set-top boxes, and mobile devices.

Conclusion

With multiple analysts upgrading their ratings and price targets along with consistent insider and institutional trading activity, Netflix remains an engaging stock for investors. This latest price increase following Guggenheim's upgrade is a reflection of the positive outlook from various financial analysts.

Netflix, Upgrade, Stocks