Netflix (NASDAQ:NFLX) PT Raised to $925.00 at Pivotal Research

Netflix (NASDAQ:NFLX) had its price objective lifted by investment analysts at Pivotal Research from $900.00 to $925.00 in a research note issued to investors on Friday, Marketbeat Ratings reports. The firm currently has a “buy” rating on the Internet television network’s stock. Pivotal Research’s target price would suggest a potential upside of 21.09% from the company’s current price.

A number of other brokerages have also recently issued reports on NFLX. Wedbush increased their target price on Netflix from $725.00 to $775.00 and gave the stock an “overweight” rating in a report on Thursday. Macquarie upped their target price on shares of Netflix from $695.00 to $795.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. The Goldman Sachs Group boosted their target price on Netflix from $650.00 to $659.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. KeyCorp increased their price target on Netflix from $735.00 to $760.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Finally, China Renaissance began coverage on shares of Netflix in a research note on Thursday, September 5th. They issued a “hold” rating and a $680.00 target price on the stock. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $747.70.

Netflix Stock Up 11.1 %

Shares of NASDAQ NFLX opened at $763.89 on Friday. Netflix has a 12-month low of $392.26 and a 12-month high of $766.28. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. The firm has a market cap of $329.24 billion, a PE ratio of 53.01, a P/E/G ratio of 1.49 and a beta of 1.26. The company’s fifty day simple moving average is $696.38 and its 200 day simple moving average is $654.94.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $9.53 billion. During the same period in the prior year, the business earned $3.29 EPS. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. As a group, sell-side analysts forecast that Netflix will post 19.08 earnings per share for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Netflix

Several hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its holdings in Netflix by 26.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 182,106 shares of the Internet television network’s stock valued at $129,163,000 after acquiring an additional 38,166 shares in the last quarter. Compass Ion Advisors LLC increased its holdings in shares of Netflix by 4.5% during the third quarter. Compass Ion Advisors LLC now owns 369 shares of the Internet television network’s stock valued at $262,000 after acquiring an additional 16 shares in the last quarter. Vest Financial LLC raised its holdings in Netflix by 154.1% in the third quarter. Vest Financial LLC now owns 1,794 shares of the Internet television network’s stock worth $1,272,000 after buying an additional 1,088 shares during the last quarter. West Branch Capital LLC lifted its position in Netflix by 30.3% in the 3rd quarter. West Branch Capital LLC now owns 1,389 shares of the Internet television network’s stock valued at $985,000 after acquiring an additional 323 shares in the last quarter. Finally, OLD National Bancorp IN lifted its holdings in shares of Netflix by 4.5% during the third quarter. OLD National Bancorp IN now owns 3,547 shares of the Internet television network’s stock valued at $2,516,000 after purchasing an additional 154 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other 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.