Netflix (NASDAQ:NFLX) Shares Rise 0.2% Following Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX) saw its shares increase by 0.2% in trading on Tuesday. This uptick came after Oppenheimer, a prominent investment firm, raised its price target for the stock from $825.00 to an impressive $1,065.00, maintaining an outperform rating. During trading, Netflix shares reached a high of $928.45 before settling at a last traded price of $922.88. The trading volume was significantly lower than usual, with 687,538 shares being exchanged—down 81% from the average daily volume of 3,607,365 shares. Previously, the stock had closed at $921.08.

Other research firms have also recently provided updates on Netflix's stock. Canaccord Genuity Group increased its target price from $760.00 to $940.00 while assigning a "hold" rating in a report published on December 2nd. Meanwhile, Benchmark reiterated a "sell" rating on Netflix shares, setting a target price of $545.00 on October 15th. Citigroup raised their target price to $920.00 from $725.00 and assigned a "neutral" rating as of December 5th. Guggenheim, on the other hand, lifted their price target from $810.00 to $825.00, giving the stock a "buy" rating. Recently, StockNews.com downgraded Netflix's rating from "buy" to "hold." Overall, analysts have two sell ratings, eleven hold ratings, and twenty-three buy ratings for the stock. According to data from MarketBeat, the overall consensus rating for Netflix is "Moderate Buy," with an average target price of approximately $801.18.

Insider Trading Activity

In recent insider trading activities, David A. Hyman, an insider at Netflix, sold 267 shares on November 5th at an average price of $765.67, amounting to a total of $204,433.89. After this sale, Hyman owns a total of 31,610 shares, which are valued at around $24.2 million. Additionally, Director Timothy M. Haley sold 11,090 shares on the same day at an average price of $757.96, totaling $8,405,776.40. Over the last 90 days, corporate insiders have sold 165,405 shares worth approximately $129.6 million, and insiders currently own about 1.76% of Netflix's stock.

Institutional Investment Trends

Several institutional investors have adjusted their positions in Netflix shares recently. Notably, International Assets Investment Management LLC saw a massive increase in its stake by 116,620.0% during the third quarter. They now own 5,753,129 shares valued at approximately $4.08 billion after acquiring an additional 5,748,200 shares. Assenagon Asset Management S.A. also grew its stake by 154.7%, now holding 1,058,431 shares valued at $750.7 million. State Street Corp increased its ownership by 2.6%, bringing their total to 16,951,347 shares worth about $12 billion. Jennison Associates LLC also raised its position by 4.7%, owning 6,990,874 shares valued at nearly $5 billion. Institutional investors now control around 80.93% of Netflix's stocks.

Current Financial Metrics

Netflix's stock is performing robustly, currently sitting at 0.2% higher. The company has a current ratio and quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Its 50-day moving average stands at $818.41, while the 200-day moving average is $722.22. With a market capitalization of $394.36 billion, Netflix shares have a price-to-earnings (P/E) ratio of 52.23, a P/E to growth (P/E/G) ratio of 1.80, and a beta value of 1.27.

In the last quarterly earnings report, which was announced on October 17th, Netflix reported earnings per share (EPS) of $5.40, exceeding analysts' expectations of $5.09. The company's net margin stood at 20.70% and it had a return on equity (ROE) of 35.86%. Netflix's total revenue for that quarter was $9.82 billion, which also surpassed the $9.77 billion consensus estimate. Analysts predict that for the current fiscal year, Netflix, Inc. will achieve an EPS of approximately 19.78.

About Netflix, Inc.

Netflix, Inc. is a leading provider of entertainment services, offering a vast array of TV series, documentaries, feature films, and games across multiple genres and languages. Subscribers have access to streaming content through various internet-connected devices, including TVs, digital video players, set-top boxes, and mobile devices.

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