Netflix (NASDAQ:NFLX) PT Raised to $800.00 at Bank of America

Netflix (NASDAQ:NFLX) had its target price raised by stock analysts at Bank of America from $740.00 to $800.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the Internet television network’s stock. Bank of America‘s price target indicates a potential upside of 4.73% from the company’s previous close.

Several other equities research analysts have also commented on NFLX. TD Cowen upped their price target on shares of Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a report on Friday. Jefferies Financial Group lifted their price objective on shares of Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a report on Friday. Canaccord Genuity Group upped their target price on Netflix from $750.00 to $760.00 and gave the stock a “hold” rating in a research note on Friday. Evercore ISI increased their target price on Netflix from $750.00 to $775.00 and gave the company an “outperform” rating in a report on Friday. Finally, StockNews.com raised shares of Netflix from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, Netflix has an average rating of “Moderate Buy” and a consensus price target of $747.70.

Netflix Stock Performance

Shares of NFLX opened at $763.89 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a 50-day moving average of $696.38 and a two-hundred day moving average of $654.94. The stock has a market cap of $329.24 billion, a P/E ratio of 53.01, a P/E/G ratio of 1.49 and a beta of 1.26. Netflix has a one year low of $392.26 and a one year high of $766.28.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping the consensus estimate of $4.74 by $0.14. The company had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. Netflix’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.29 EPS. As a group, research analysts predict that Netflix will post 19.08 EPS for the current year.

Insider Activity

In related news, Director Leslie J. Kilgore sold 383 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $730.00, for a total transaction of $279,590.00. Following the transaction, the director now owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman Reed Hastings sold 45,290 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the sale, the chairman now directly owns 85 shares of the company’s stock, valued at $60,023.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Leslie J. Kilgore sold 383 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total transaction of $279,590.00. Following the completion of the transaction, the director now directly owns 35,262 shares of the company’s stock, valued at $25,741,260. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 225,167 shares of company stock valued at $150,492,460. 1.76% of the stock is currently owned by corporate insiders.

Institutional Trading of Netflix

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Netflix by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock worth $22,220,936,000 after purchasing an additional 149,341 shares during the period. Jennison Associates LLC raised its holdings in Netflix by 17.0% in 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 acquiring an additional 929,193 shares in the last quarter. Baillie Gifford & Co. lifted its stake in Netflix by 2.3% in 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 acquiring an additional 106,756 shares during the last quarter. Legal & General Group Plc grew its holdings in Netflix by 3.1% during the 2nd quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock worth $2,327,738,000 after acquiring an additional 104,332 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Netflix by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,281,306 shares of the Internet television network’s stock valued at $2,214,488,000 after purchasing an additional 83,762 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.