Netflix (NASDAQ:NFLX) PT Raised to $775.00

Netflix (NASDAQ:NFLX) had its price target raised by Oppenheimer from $725.00 to $775.00 in a research note issued to investors on Thursday morning, Marketbeat.com reports. The firm currently has an outperform rating on the Internet television network’s stock.

NFLX has been the topic of several other research reports. Morgan Stanley upped their price target on Netflix from $700.00 to $780.00 and gave the company an overweight rating in a research note on Monday, July 15th. China Renaissance initiated coverage on shares of Netflix in a research report on Thursday, September 5th. They set a hold rating and a $680.00 target price on the stock. JPMorgan Chase & Co. reaffirmed an overweight rating and issued a $750.00 target price on shares of Netflix in a research note on Tuesday, October 8th. The Goldman Sachs Group boosted their price target on shares of Netflix from $650.00 to $659.00 and gave the stock a neutral rating in a research note on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Netflix from $590.00 to $650.00 and gave the company a hold rating in a research note on Wednesday, October 9th. Two investment 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 MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $702.79.

Netflix Stock Down 1.0 %

Shares of NASDAQ NFLX opened at $722.79 on Thursday. 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 company has a market cap of $311.52 billion, a price-to-earnings ratio of 50.16, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. Netflix has a 12-month low of $344.73 and a 12-month high of $736.00. The firm’s 50-day simple moving average is $686.60 and its 200 day simple moving average is $651.60.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating the consensus estimate of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The business had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. During the same period in the prior year, the firm earned $3.29 earnings per share. Netflix’s revenue was up 16.8% compared to the same quarter last year. On average, research analysts expect that Netflix will post 19.08 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In related news, Director Leslie J. Kilgore sold 383 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the transaction, the director now owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Leslie J. Kilgore sold 383 shares of the 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 directly owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. 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 accessible through this hyperlink. Also, Chairman Reed Hastings sold 45,290 shares of the business’s stock in a transaction that occurred on 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 transaction, the chairman now directly owns 85 shares in the company, valued at $60,023.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 225,167 shares of company stock valued at $150,492,460 over the last 90 days. 1.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NFLX. DigitalBridge Group Inc. grew its holdings in Netflix by 35.5% during the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after purchasing an additional 9,451 shares during the period. M&G Plc acquired a new stake in shares of Netflix in the first quarter valued at approximately $9,682,000. BSN CAPITAL PARTNERS Ltd boosted its stake in shares of Netflix by 24.4% during the 1st quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock worth $155,185,000 after acquiring an additional 49,000 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Netflix by 58.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock worth $55,968,000 after acquiring an additional 30,511 shares during the last quarter. Finally, Scarborough Advisors LLC acquired a new stake in Netflix during the 4th quarter valued at $9,513,000. 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.