Netflix (NASDAQ:NFLX) PT Raised to $835.00 at TD Cowen

Netflix (NASDAQ:NFLX) had its price target upped by TD Cowen from $820.00 to $835.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the Internet television network’s stock. TD Cowen’s price target would suggest a potential upside of 9.31% from the company’s previous close.

NFLX has been the topic of several other reports. Piper Sandler restated an “overweight” rating and set a $840.00 price target (up from $800.00) on shares of Netflix in a research report on Friday. StockNews.com raised shares of Netflix from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. Wedbush lifted their price target on shares of Netflix from $725.00 to $775.00 and gave the company an “overweight” rating in a research report on Thursday. 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 report on Monday, July 15th. Finally, Canaccord Genuity Group lifted their target price on shares of Netflix from $750.00 to $760.00 and gave the company a “hold” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $747.70.

Netflix Trading Up 11.1 %

NASDAQ:NFLX opened at $763.89 on Friday. The company has a 50-day moving average price of $696.38 and a 200-day moving average price of $654.94. The stock has a market cap of $329.24 billion, a price-to-earnings ratio of 53.01, a P/E/G ratio of 1.49 and a beta of 1.26. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix has a 12 month low of $392.26 and a 12 month high of $766.28.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating the consensus estimate of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. During the same period in the previous year, the firm posted $3.29 EPS. The business’s revenue was up 16.8% on a year-over-year basis. Equities 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 Netflix stock in a transaction on 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 directly owns 35,262 shares in the company, valued at approximately $25,741,260. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Leslie J. Kilgore sold 383 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $730.00, for a total value of $279,590.00. Following the transaction, the director now owns 35,262 shares of the company’s stock, valued at $25,741,260. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $626.19, for a total value of $271,140.27. The disclosure for this sale can be found here. Insiders sold a total of 225,167 shares of company stock valued at $150,492,460 in the last 90 days. Company insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

A number of hedge funds and other institutional investors have recently modified their holdings of NFLX. Vanguard Group Inc. increased its stake in Netflix by 0.4% in 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 buying an additional 149,341 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after acquiring an additional 929,193 shares during the period. Baillie Gifford & Co. grew its position in shares of 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 in the last quarter. Legal & General Group Plc raised its stake 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 valued at $2,327,738,000 after purchasing an additional 104,332 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in 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 worth $2,214,488,000 after purchasing an additional 83,762 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

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.