Netflix (NASDAQ:NFLX) PT Raised to $900.00

Netflix (NASDAQ:NFLX) had its price objective hoisted by Pivotal Research from $800.00 to $900.00 in a research note issued on Friday, Briefing.com reports. The brokerage presently has a “buy” rating on the Internet television network’s stock. Pivotal Research’s price target points to a potential upside of 29.97% from the company’s previous close.

NFLX has been the topic of a number of other research reports. 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 research note on Monday, July 15th. Piper Sandler boosted their target price on shares of Netflix from $600.00 to $650.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Oppenheimer reiterated an “outperform” rating and issued a $725.00 price objective on shares of Netflix in a report on Tuesday, July 30th. Redburn Atlantic upped their price objective on shares of Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a report on Friday, July 19th. Finally, CICC Research assumed coverage on shares of Netflix in a research report on Thursday, May 2nd. They issued an “outperform” rating and a $650.00 target price for the company. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and a consensus price target of $685.45.

Netflix Trading Up 1.3 %

Shares of Netflix stock opened at $692.48 on Friday. The stock has a market capitalization of $298.46 billion, a P/E ratio of 48.06, a price-to-earnings-growth ratio of 1.28 and a beta of 1.27. 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 50-day simple moving average of $658.77 and a 200 day simple moving average of $628.84. Netflix has a 12-month low of $344.73 and a 12-month high of $711.33.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share 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 analysts’ expectations 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 quarter last year, the company posted $3.29 EPS. Research analysts expect that Netflix will post 19.08 earnings per share for the current fiscal year.

Insider Activity

In other news, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at approximately $19,128,159.30. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider David A. Hyman sold 20,656 shares of the business’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 completion of the sale, the insider now owns 31,610 shares in the company, valued at approximately $19,128,159.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The disclosure for this sale can be found here. In the last 90 days, insiders sold 152,700 shares of company stock worth $98,283,982. 1.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Netflix

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Netflix by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock worth $22,220,936,000 after purchasing an additional 149,341 shares during the period. Capital World Investors increased its stake in shares of Netflix by 0.7% during the fourth quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock valued at $5,718,265,000 after buying an additional 78,320 shares during the period. Jennison Associates LLC increased its stake in shares of Netflix by 17.0% during the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after buying an additional 929,193 shares during the period. Norges Bank purchased a new position in shares of Netflix during the fourth quarter valued at approximately $2,558,598,000. Finally, Baillie Gifford & Co. increased its stake in shares of Netflix by 2.3% during the second quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock valued at $3,213,825,000 after buying an additional 106,756 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

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.