Netflix (NASDAQ:NFLX) PT Raised to $797.00

Netflix (NASDAQ:NFLX) had its price objective hoisted by analysts at Wells Fargo & Company from $758.00 to $797.00 in a report released on Friday, Benzinga reports. The firm presently has an “overweight” rating on the Internet television network’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 4.33% from the stock’s current price.

A number of other brokerages have also issued reports on NFLX. TD Cowen increased their target price on shares of Netflix from $775.00 to $820.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Evercore ISI upped their target price on Netflix from $710.00 to $750.00 and gave the company an “outperform” rating in a research report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft raised their price target on Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Bank of America upped their price objective on shares of Netflix from $700.00 to $740.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Finally, Rosenblatt Securities raised their target price on shares of Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a report on Friday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $747.70.

Netflix Stock Performance

NFLX opened at $763.89 on Friday. Netflix has a 12-month low of $392.26 and a 12-month high of $766.28. The stock has a market cap of $329.24 billion, a price-to-earnings ratio of 53.01, a PEG ratio of 1.49 and a beta of 1.26. The business has a 50 day moving average of $696.38 and a 200-day moving average of $654.94. 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 announced its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The company had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. During the same quarter in the previous year, the business posted $3.29 earnings per share. Netflix’s quarterly revenue was up 16.8% on a year-over-year basis. On average, equities research analysts expect that Netflix will post 19.08 earnings per share for the current year.

Insider Buying and Selling at Netflix

In related news, Chairman Reed Hastings sold 25,599 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $631.43, for a total value of $16,163,976.57. Following the completion of the transaction, the chairman now directly owns 57 shares of the company’s stock, valued at approximately $35,991.51. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Reed Hastings sold 25,599 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the completion of the transaction, the chairman now directly owns 57 shares in the company, valued at $35,991.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 225,167 shares of company stock worth $150,492,460 over the last ninety days. 1.76% of the stock is currently owned by company insiders.

Institutional Trading of Netflix

A number of hedge funds have recently made changes to their positions in NFLX. Denver PWM LLC bought a new stake in Netflix during the second quarter worth about $25,000. Valued Wealth Advisors LLC grew its position in Netflix by 80.0% during the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 20 shares during the last quarter. Indiana Trust & Investment Management CO raised its stake in shares of Netflix by 112.0% during the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 28 shares in the last quarter. Proffitt & Goodson Inc. boosted its stake in shares of Netflix by 380.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 38 shares in the last quarter. Finally, AlphaMark Advisors LLC boosted its stake in shares of Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after purchasing an additional 45 shares in the last quarter. 80.93% of the stock is owned by 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.