Brokerages Set Netflix, Inc. (NASDAQ:NFLX) Price Target at $633.53

Shares of Netflix, Inc. (NASDAQ:NFLX) have earned an average recommendation of “Moderate Buy” from the thirty-five research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $633.53.

Several analysts have commented on the stock. CICC Research assumed coverage on shares of Netflix in a report on Thursday, May 2nd. They set an “outperform” rating and a $650.00 target price on the stock. TD Cowen raised their target price on shares of Netflix from $600.00 to $725.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Rosenblatt Securities raised their target price on shares of Netflix from $540.00 to $554.00 and gave the stock a “neutral” rating in a report on Friday, May 17th. Canaccord Genuity Group downgraded shares of Netflix from a “buy” rating to a “hold” rating and dropped their target price for the stock from $720.00 to $585.00 in a report on Friday, April 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $700.00 price target on shares of Netflix in a research note on Monday, June 17th.

Insider Transactions at Netflix

In other news, CEO Gregory K. Peters sold 4,783 shares of Netflix stock in a transaction on Friday, June 14th. The stock was sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $8,835,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Reed Hastings sold 20,566 shares of Netflix stock in a transaction on Monday, April 1st. The stock was 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 owns 28 shares of the company’s stock, valued at $17,091.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory K. Peters sold 4,783 shares of Netflix stock in a transaction on Friday, June 14th. The stock was sold at an average price of $675.00, for a total value of $3,228,525.00. Following the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $8,835,750. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,425 shares of company stock valued at $41,919,791. 1.76% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Spartan Planning & Wealth Management bought a new position in Netflix in the third quarter valued at about $26,000. Valued Wealth Advisors LLC grew its position in Netflix by 80.0% in the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 20 shares during the last quarter. VitalStone Financial LLC grew its position in Netflix by 933.3% in the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after acquiring an additional 56 shares during the last quarter. Beaird Harris Wealth Management LLC grew its position in Netflix by 1,550.0% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 62 shares during the last quarter. Finally, Scarborough Advisors LLC bought a new position in Netflix in the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Performance

Shares of NASDAQ:NFLX opened at $672.41 on Friday. The company has a market capitalization of $289.81 billion, a price-to-earnings ratio of 46.66, a P/E/G ratio of 1.48 and a beta of 1.26. The firm’s 50 day simple moving average is $623.78 and its 200 day simple moving average is $580.61. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07. Netflix has a fifty-two week low of $344.73 and a fifty-two week high of $689.88.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping the consensus estimate of $4.51 by $0.77. The firm had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the company posted $2.88 EPS. As a group, sell-side analysts forecast that Netflix will post 18.31 earnings per share for the current year.

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.