Netflix (NASDAQ:NFLX) Price Target Increased to $797.00 by Analysts at Wells Fargo & Company

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

A number of other research analysts have also commented on the company. KeyCorp upped their price target on Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft upped their target price on Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Bank of America lifted their price target on shares of Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a report on Monday, July 15th. Redburn Atlantic upped their price objective on shares of Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $840.00 target price (up from $800.00) on shares of Netflix in a research report on Friday. Two analysts have rated the stock with a sell rating, nine have given 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 a consensus price target of $747.70.

Netflix Trading Up 11.1 %

NASDAQ:NFLX opened at $763.89 on Friday. The firm has a market capitalization of $329.24 billion, a P/E ratio of 53.01, a P/E/G ratio of 1.49 and a beta of 1.26. 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 fifty day moving average of $696.38 and a 200 day moving average of $655.12. Netflix has a 52 week low of $392.26 and a 52 week high of $766.28.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data 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. The firm had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.29 earnings per share. On average, research analysts predict that Netflix will post 19.08 earnings per share for the current year.

Insider Activity at Netflix

In related news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Leslie J. Kilgore sold 383 shares of the stock in a transaction 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 sale, the director now directly owns 35,262 shares of the company’s stock, valued at $25,741,260. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 225,167 shares of company stock valued at $150,492,460 over the last 90 days. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

A number of institutional investors have recently made changes to their positions in the stock. DigitalBridge Group Inc. lifted its position in Netflix by 35.5% during the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after purchasing an additional 9,451 shares during the period. M&G Plc purchased a new stake in Netflix during the 1st quarter valued at $9,682,000. BSN CAPITAL PARTNERS Ltd lifted its holdings 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 valued at $155,185,000 after buying an additional 49,000 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Netflix by 58.2% in 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 buying an additional 30,511 shares during the last quarter. Finally, First Trust Direct Indexing L.P. boosted its stake in shares of Netflix by 14.9% in the 1st quarter. First Trust Direct Indexing L.P. now owns 10,330 shares of the Internet television network’s stock worth $6,274,000 after buying an additional 1,342 shares during the last quarter. Hedge funds and other 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.