Netflix (NASDAQ:NFLX) Price Target Raised to $720.00 at Benchmark

Netflix (NASDAQ:NFLX) had its price target raised by Benchmark from $555.00 to $720.00 in a report released on Friday, Marketbeat.com reports. Benchmark currently has a sell rating on the Internet television network’s stock.

A number of other analysts also recently commented on the stock. Loop Capital downgraded shares of Netflix from a “buy” rating to a “hold” rating and boosted their price target for the stock from $800.00 to $950.00 in a research report on Monday, December 16th. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a report on Saturday, December 21st. 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. Piper Sandler reissued an “overweight” rating and issued a $840.00 price objective (up from $800.00) on shares of Netflix in a research note on Friday, October 18th. Finally, Jefferies Financial Group lifted their price objective on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $813.00.

Netflix Price Performance

Shares of NFLX opened at $881.05 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm has a market cap of $376.61 billion, a price-to-earnings ratio of 49.86, a PEG ratio of 1.77 and a beta of 1.27. Netflix has a 52 week low of $466.53 and a 52 week high of $941.75. The stock has a 50 day moving average of $864.05 and a 200-day moving average of $744.71.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating 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 business had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. As a group, analysts forecast that Netflix will post 19.78 EPS for the current year.

Insider Buying and Selling at Netflix

In other news, CEO Gregory K. Peters sold 4,186 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $750.00, for a total transaction of $3,139,500.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $9,817,500. The trade was a 24.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the transaction, the chairman now directly owns 114 shares in the company, valued at approximately $102,212.40. This represents a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 150,761 shares of company stock worth $125,713,484. 1.76% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Netflix

A number of hedge funds have recently modified their holdings of the business. Denver PWM LLC acquired a new stake in Netflix in the 2nd quarter valued at approximately $25,000. RPg Family Wealth Advisory LLC acquired a new stake in Netflix during the third quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after buying an additional 42 shares during the period. MidAtlantic Capital Management Inc. bought a new stake in shares of Netflix during the 3rd quarter worth $37,000. Finally, FSA Wealth Management LLC acquired a new position in Netflix during the 3rd quarter worth approximately $38,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

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.