Netflix (NASDAQ:NFLX) Price Target Raised to $1,100.00

Netflix (NASDAQ:NFLX) had its target price increased by Pivotal Research from $925.00 to $1,100.00 in a report published on Wednesday, MarketBeat reports. Pivotal Research currently has a buy rating on the Internet television network’s stock.

NFLX has been the topic of several other reports. Jefferies Financial Group upped their price target on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. UBS Group increased their price target on shares of Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Piper Sandler reaffirmed an “overweight” rating and set a $840.00 price objective (up from $800.00) on shares of Netflix in a research report on Friday, October 18th. Morgan Stanley increased their target price on shares of Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, Oppenheimer boosted their price target on shares of Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus target price of $764.82.

Netflix Stock Performance

Shares of NFLX opened at $897.79 on Wednesday. The company has a 50-day moving average of $755.40 and a two-hundred day moving average of $690.93. The stock has a market cap of $383.77 billion, a price-to-earnings ratio of 50.81, a PEG ratio of 1.73 and a beta of 1.25. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. Netflix has a one year low of $445.73 and a one year high of $908.00.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The firm had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. On average, equities research analysts expect that Netflix will post 19.78 earnings per share for the current year.

Insider Activity

In related news, Chairman Reed Hastings sold 45,290 shares of the company’s stock in a transaction 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 completion of the transaction, the chairman now directly owns 85 shares in the company, valued at $60,023.60. This represents a 99.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at $24,202,828.70. This represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 185,866 shares of company stock valued at $133,393,921. 1.76% of the stock is owned by company insiders.

Hedge Funds Weigh In On Netflix

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. LGT Group Foundation acquired a new stake in Netflix during the first quarter worth $146,000. CreativeOne Wealth LLC increased its stake in Netflix by 80.1% in the first quarter. CreativeOne Wealth LLC now owns 2,520 shares of the Internet television network’s stock valued at $1,531,000 after acquiring an additional 1,121 shares during the period. EP Wealth Advisors LLC raised its position in Netflix by 23.3% in the first quarter. EP Wealth Advisors LLC now owns 11,002 shares of the Internet television network’s stock worth $6,682,000 after purchasing an additional 2,080 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Netflix by 10.2% during the first quarter. Advisors Asset Management Inc. now owns 5,092 shares of the Internet television network’s stock worth $3,093,000 after purchasing an additional 471 shares during the period. Finally, Westwood Holdings Group Inc. boosted its holdings in Netflix by 24.8% during the first quarter. Westwood Holdings Group Inc. now owns 3,570 shares of the Internet television network’s stock valued at $2,168,000 after purchasing an additional 710 shares in the last quarter. 80.93% of the stock is currently 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.