Netflix (NASDAQ:NFLX) PT Raised to $650.00

Netflix (NASDAQ:NFLX) had its price objective boosted by investment analysts at Deutsche Bank Aktiengesellschaft from $590.00 to $650.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the Internet television network’s stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential downside of 9.94% from the company’s previous close.

A number of other equities research analysts also recently commented on the company. Piper Sandler raised Netflix from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $650.00 to $800.00 in a research report on Monday. TD Cowen lifted their price objective on Netflix from $775.00 to $820.00 and gave the company a “buy” rating in a research report on Monday. Sanford C. Bernstein lifted their price objective on Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. Pivotal Research lifted their price objective on Netflix from $800.00 to $900.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $694.71.

Netflix Stock Performance

NASDAQ NFLX opened at $721.76 on Wednesday. Netflix has a fifty-two week low of $344.73 and a fifty-two week high of $725.26. The stock has a market cap of $311.08 billion, a price-to-earnings ratio of 50.09, a price-to-earnings-growth ratio of 1.44 and a beta of 1.26. The business has a fifty day moving average of $678.35 and a 200-day moving average of $648.76. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The company had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. During the same period in the previous year, the firm posted $3.29 earnings per share. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. As a group, analysts predict that Netflix will post 19.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Netflix news, Chairman Reed Hastings sold 45,290 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the completion of the sale, the chairman now owns 85 shares in the company, valued at $60,023.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman Reed Hastings sold 45,290 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the completion of the transaction, the chairman now directly owns 85 shares in the company, valued at approximately $60,023.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gregory K. Peters sold 1,278 shares of Netflix stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total transaction of $785,254.32. Following the completion of the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,043,019.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 224,784 shares of company stock worth $150,212,870. 1.76% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Netflix

Several large investors have recently modified their holdings of NFLX. Vanguard Group Inc. increased its holdings in Netflix by 0.4% in the first quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock valued at $22,220,936,000 after buying an additional 149,341 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Netflix by 17.0% in the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after acquiring an additional 929,193 shares during the last quarter. Baillie Gifford & Co. lifted its stake in Netflix by 2.3% during the second quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock worth $3,213,825,000 after purchasing an additional 106,756 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Netflix by 1.8% during the fourth quarter. Fisher Asset Management LLC now owns 4,115,613 shares of the Internet television network’s stock worth $2,003,810,000 after purchasing an additional 72,807 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Netflix by 540.9% during the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after purchasing an additional 3,273,592 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

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.