Netflix (NASDAQ:NFLX) PT Raised to $726.00

Netflix (NASDAQ:NFLX) had its price target upped by Wells Fargo & Company from $650.00 to $726.00 in a research report report published on Friday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the Internet television network’s stock.

NFLX has been the subject of several other research reports. Morgan Stanley increased their price target on Netflix from $600.00 to $700.00 and gave the stock an overweight rating in a research note on Friday, April 12th. The Goldman Sachs Group raised their target price on shares of Netflix from $500.00 to $565.00 and gave the company a neutral rating in a research note on Wednesday, January 24th. KeyCorp upped their price target on shares of Netflix from $580.00 to $705.00 and gave the stock an overweight rating in a research note on Wednesday, March 20th. Seaport Res Ptn lowered shares of Netflix from a buy rating to a neutral rating in a research note on Tuesday, January 30th. Finally, Jefferies Financial Group upped their target price on Netflix from $580.00 to $700.00 and gave the stock a buy rating in a research report on Tuesday, March 12th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, Netflix presently has an average rating of Moderate Buy and an average target price of $630.58.

Netflix Stock Down 0.1 %

NFLX stock opened at $554.60 on Friday. The stock has a market cap of $238.98 billion, a PE ratio of 38.49, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. The firm’s 50-day simple moving average is $605.58 and its 200 day simple moving average is $516.27. Netflix has a fifty-two week low of $315.62 and a fifty-two week high of $639.00. The company has a quick ratio of 1.12, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating the consensus estimate of $4.51 by $0.77. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. Netflix’s revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.88 earnings per share. As a group, sell-side analysts predict that Netflix will post 17.13 EPS for the current year.

Insider Buying and Selling

In other Netflix news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total transaction of $148,454.67. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at $17,575,476.10. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Chairman Reed Hastings sold 20,566 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the completion of the sale, the chairman now directly owns 28 shares of the company’s stock, valued at approximately $17,091.76. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David A. Hyman sold 267 shares of Netflix stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total transaction of $148,454.67. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at approximately $17,575,476.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 268,335 shares of company stock worth $151,619,811. Corporate insiders own 2.45% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. lifted its position in shares of Netflix by 1.5% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 143,394 shares of the Internet television network’s stock worth $87,087,000 after purchasing an additional 2,120 shares during the last quarter. Bristlecone Advisors LLC increased its position in Netflix by 2.2% in the 1st quarter. Bristlecone Advisors LLC now owns 7,097 shares of the Internet television network’s stock worth $4,310,000 after buying an additional 155 shares during the period. Strategic Financial Concepts LLC bought a new position in Netflix in the 1st quarter worth approximately $221,000. Confluence Wealth Services Inc. lifted its holdings in shares of Netflix by 3.8% during the first quarter. Confluence Wealth Services Inc. now owns 2,187 shares of the Internet television network’s stock worth $1,328,000 after buying an additional 81 shares during the last quarter. Finally, Byrne Asset Management LLC boosted its position in shares of Netflix by 111.4% in the first quarter. Byrne Asset Management LLC now owns 241 shares of the Internet television network’s stock valued at $146,000 after acquiring an additional 127 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

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.