Netflix (NASDAQ:NFLX) Given New $767.00 Price Target at Argus

Netflix (NASDAQ:NFLX) had its price objective lifted by Argus from $660.00 to $767.00 in a research report report published on Tuesday, MarketBeat.com reports. Argus currently has a buy rating on the Internet television network’s stock.

Several other equities analysts have also issued reports on NFLX. Bank of America boosted their target price on shares of Netflix from $650.00 to $700.00 and gave the company a buy rating in a report on Friday, April 19th. Pivotal Research upped their target price on Netflix from $765.00 to $800.00 and gave the company a buy rating in a research report on Friday, April 19th. CICC Research began coverage on Netflix in a research note on Thursday, May 2nd. They set an outperform rating and a $650.00 target price for the company. Benchmark boosted their price target on Netflix from $440.00 to $450.00 and gave the company a sell rating in a research note on Friday, May 17th. Finally, Wedbush reaffirmed an outperform rating and set a $725.00 price objective on shares of Netflix in a research report on Monday, May 20th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $637.34.

Netflix Trading Up 0.9 %

Shares of NFLX stock opened at $679.58 on Tuesday. Netflix has a 1-year low of $344.73 and a 1-year high of $689.88. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. The stock has a market cap of $292.90 billion, a price-to-earnings ratio of 47.16, a PEG ratio of 1.46 and a beta of 1.27. The stock has a 50-day moving average of $631.31 and a 200-day moving average of $586.51.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. The business had revenue of $9.37 billion during 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 company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.88 EPS. On average, equities research analysts forecast that Netflix will post 18.31 earnings per share for the current year.

Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 18,361 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $551.54, for a total transaction of $10,126,825.94. Following the completion of the sale, the chairman now directly owns 28 shares of the company’s stock, valued at $15,443.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman Reed Hastings sold 18,361 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $551.54, for a total transaction of $10,126,825.94. Following the completion of the transaction, the chairman now owns 28 shares in the company, valued at $15,443.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Gregory K. Peters sold 4,783 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,835,750. The disclosure for this sale can be found here. Insiders have sold 71,385 shares of company stock worth $44,469,351 in the last 90 days. Insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Institutional investors and hedge funds have recently bought and sold shares of the company. Valued Wealth Advisors LLC lifted its position in shares of Netflix by 80.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after buying an additional 20 shares during the last quarter. Indiana Trust & Investment Management CO lifted its holdings in Netflix by 112.0% during the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 28 shares during the last quarter. VitalStone Financial LLC boosted its position in Netflix by 933.3% during the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after purchasing an additional 56 shares during the period. Scarborough Advisors LLC bought a new position in Netflix during the fourth quarter worth about $32,000. Finally, Beaird Harris Wealth Management LLC increased its stake in shares of 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 worth $32,000 after purchasing an additional 62 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

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.