Canaccord Genuity Group Issues Positive Forecast for Netflix (NASDAQ:NFLX) Stock Price

Netflix (NASDAQ:NFLX) had its price target lifted by Canaccord Genuity Group from $760.00 to $940.00 in a research note released on Monday,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the Internet television network’s stock.

Several other analysts also recently issued reports on NFLX. Barclays restated an “underweight” rating and set a $550.00 price objective on shares of Netflix in a report on Friday, October 18th. Oppenheimer raised their price objective on shares of Netflix from $775.00 to $825.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. TD Cowen boosted their target price on shares of Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Guggenheim increased their target price on Netflix from $810.00 to $825.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Finally, Pivotal Research lifted their price target on Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $775.58.

Netflix Trading Up 1.2 %

Shares of NFLX stock opened at $897.74 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock has a 50-day simple moving average of $773.01 and a 200 day simple moving average of $700.75. Netflix has a fifty-two week low of $445.73 and a fifty-two week high of $908.00. The stock has a market capitalization of $383.75 billion, a P/E ratio of 50.81, a P/E/G ratio of 1.71 and a beta of 1.25.

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

Insider Buying and Selling

In other news, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jay C. Hoag sold 43,750 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $687.07, for a total value of $30,059,312.50. Following the transaction, the director now owns 95,040 shares of the company’s stock, valued at $65,299,132.80. This trade represents a 31.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 160,792 shares of company stock valued at $116,320,533. 1.76% of the stock is owned by company insiders.

Institutional Trading of Netflix

A number of large investors have recently bought and sold shares of the stock. Park Avenue Securities LLC grew its position in Netflix by 8.6% during the 2nd quarter. Park Avenue Securities LLC now owns 13,647 shares of the Internet television network’s stock worth $9,210,000 after acquiring an additional 1,076 shares during the last quarter. Apella Capital LLC increased its stake in shares of Netflix by 60.2% in the second quarter. Apella Capital LLC now owns 995 shares of the Internet television network’s stock valued at $682,000 after buying an additional 374 shares in the last quarter. Cullinan Associates Inc. raised its holdings in shares of Netflix by 98.6% in the second quarter. Cullinan Associates Inc. now owns 1,390 shares of the Internet television network’s stock valued at $938,000 after buying an additional 690 shares during the last quarter. NBC Securities Inc. lifted its position in Netflix by 2.7% during the 2nd quarter. NBC Securities Inc. now owns 4,173 shares of the Internet television network’s stock worth $2,816,000 after buying an additional 108 shares in the last quarter. Finally, Aprio Wealth Management LLC grew its holdings in Netflix by 9.1% during the 2nd quarter. Aprio Wealth Management LLC now owns 1,840 shares of the Internet television network’s stock worth $1,242,000 after acquiring an additional 153 shares during the last quarter. 80.93% of the stock is currently owned by 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.