Sanford C. Bernstein Boosts Netflix (NASDAQ:NFLX) Price Target to $780.00

Netflix (NASDAQ:NFLX) had its price target raised by Sanford C. Bernstein from $625.00 to $780.00 in a research report sent to investors on Friday morning, Benzinga reports. Sanford C. Bernstein currently has a market perform rating on the Internet television network’s stock.

A number of other research analysts also recently commented on NFLX. Redburn Atlantic boosted their price target on Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Piper Sandler upgraded shares of Netflix from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $650.00 to $800.00 in a research report on Monday, October 7th. The Goldman Sachs Group increased their price target on shares of Netflix from $650.00 to $659.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Macquarie restated an “outperform” rating and set a $795.00 price objective on shares of Netflix in a research report on Friday. Finally, Morgan Stanley upped their target price on Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research note on Friday. Two 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $747.70.

Netflix Price Performance

Netflix stock opened at $772.07 on Friday. The firm has a market cap of $332.76 billion, a PE ratio of 53.58, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The stock’s fifty day moving average price is $699.16 and its two-hundred day moving average price is $656.21. Netflix has a one year low of $395.62 and a one year high of $773.00.

Insider Transactions at Netflix

In related news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the sale, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Leslie J. Kilgore sold 358 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $765.00, for a total transaction of $273,870.00. Following the transaction, the director now owns 35,262 shares in the company, valued at approximately $26,975,430. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 229,711 shares of company stock valued at $153,905,830. Corporate insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GQG Partners LLC acquired a new stake in Netflix in the 1st quarter valued at $1,450,476,000. Jennison Associates LLC lifted 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 valued at $3,875,655,000 after buying an additional 929,193 shares in the last quarter. Global Assets Advisory LLC acquired a new position in shares of Netflix during the first quarter valued at about $436,514,000. Jericho Capital Asset Management L.P. bought a new stake in shares of Netflix during the first quarter worth about $372,293,000. Finally, Swedbank AB acquired a new stake in shares of Netflix in the 1st quarter worth about $216,538,000. Institutional investors own 80.93% of the company’s stock.

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.