Netflix (NASDAQ:NFLX) Price Target Increased to $767.00 by Analysts at Argus

Netflix (NASDAQ:NFLX) had its price target raised by Argus from $660.00 to $767.00 in a report published on Tuesday, MarketBeat Ratings reports. Argus currently has a buy rating on the Internet television network’s stock.

A number of other research analysts have also recently commented on the company. Benchmark boosted their price objective on Netflix from $440.00 to $450.00 and gave the stock a sell rating in a research note on Friday, May 17th. Sanford C. Bernstein upped their price target on Netflix from $490.00 to $600.00 and gave the stock a market perform rating in a report on Friday, April 19th. Jefferies Financial Group reiterated a buy rating and set a $655.00 price objective on shares of Netflix in a research note on Wednesday, May 15th. Loop Capital upped their target price on shares of Netflix from $700.00 to $750.00 and gave the company a buy rating in a research note on Tuesday, June 18th. Finally, Rosenblatt Securities lifted their price target on shares of Netflix from $540.00 to $554.00 and gave the stock a neutral rating in a research note on Friday, May 17th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $637.34.

Netflix Trading Up 0.9 %

Shares of NFLX opened at $679.58 on Tuesday. Netflix has a twelve month low of $344.73 and a twelve month high of $689.88. The firm has a market capitalization of $292.90 billion, a P/E ratio of 47.16, a price-to-earnings-growth ratio of 1.46 and a beta of 1.27. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. The stock’s fifty day simple moving average is $631.31 and its 200 day simple moving average is $586.51.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. The company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period last year, the business posted $2.88 EPS. On average, equities research analysts forecast that Netflix will post 18.31 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Gregory K. Peters sold 1,278 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $593.81, for a total transaction of $758,889.18. Following the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $7,772,972.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Gregory K. Peters sold 1,278 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $593.81, for a total value of $758,889.18. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $7,772,972.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Reed Hastings sold 22,526 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $670.49, for a total value of $15,103,457.74. Following the sale, the chairman now directly owns 57 shares in the company, valued at approximately $38,217.93. The disclosure for this sale can be found here. Insiders sold 71,385 shares of company stock valued at $44,469,351 in the last three months. 1.76% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Netflix by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock valued at $22,220,936,000 after acquiring an additional 149,341 shares during the last quarter. Capital World Investors raised its position in shares of Netflix by 0.7% during the fourth quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock worth $5,718,265,000 after purchasing an additional 78,320 shares during the period. Jennison Associates LLC lifted its holdings in shares of Netflix by 17.0% during the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after purchasing an additional 929,193 shares during the last quarter. Norges Bank acquired a new position in shares of Netflix in the 4th quarter valued at $2,558,598,000. Finally, Fisher Asset Management LLC increased its stake in Netflix by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 4,121,104 shares of the Internet television network’s stock worth $2,006,483,000 after purchasing an additional 78,298 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

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.