Wells Fargo & Company Raises Netflix (NASDAQ:NFLX) Price Target to $797.00

Netflix (NASDAQ:NFLX) had its price objective raised by Wells Fargo & Company from $758.00 to $797.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an overweight rating on the Internet television network’s stock.

Several other analysts also recently commented on the stock. Guggenheim lifted their target price on shares of Netflix from $735.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Loop Capital lifted their price objective on shares of Netflix from $750.00 to $800.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. TD Cowen lifted their price objective on shares of Netflix from $775.00 to $820.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Evercore ISI lifted their price objective on shares of Netflix from $710.00 to $750.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 27th. Finally, Redburn Atlantic lifted their price objective on shares of Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $747.70.

Netflix Stock Performance

Shares of NFLX stock opened at $772.07 on Friday. The company has a market capitalization of $332.76 billion, a price-to-earnings ratio of 53.58, a PEG ratio of 1.49 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The company has a 50-day simple moving average of $699.16 and a 200 day simple moving average of $656.21. Netflix has a 52 week low of $395.62 and a 52 week high of $773.00.

Insiders Place Their Bets

In other Netflix news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $19,128,159.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider David A. Hyman sold 20,656 shares of the 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 in the company, valued at $19,128,159.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gregory K. Peters sold 1,278 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total transaction of $785,254.32. Following the completion of the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,043,019.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 229,711 shares of company stock worth $153,905,830. Insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several institutional investors have recently added to or reduced their stakes in the stock. Heartland Bank & Trust Co boosted its position in Netflix by 0.9% during the second quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock worth $1,195,000 after purchasing an additional 15 shares during the period. Cedrus LLC boosted its position in Netflix by 0.8% during the third quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock worth $1,263,000 after purchasing an additional 15 shares during the period. Meritas Wealth Management LLC boosted its position in Netflix by 2.9% during the third quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock worth $406,000 after purchasing an additional 16 shares during the period. Stage Harbor Financial LLC boosted its position in Netflix by 4.8% during the third quarter. Stage Harbor Financial LLC now owns 346 shares of the Internet television network’s stock worth $250,000 after purchasing an additional 16 shares during the period. Finally, Compass Ion Advisors LLC boosted its position in shares of Netflix by 4.5% in 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 during the period. Institutional investors 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.