Guggenheim Boosts Netflix (NASDAQ:NFLX) Price Target to $810.00

Netflix (NASDAQ:NFLX) had its price objective increased by Guggenheim from $735.00 to $810.00 in a research note issued to investors on Friday, Marketbeat.com reports. The firm currently has a buy rating on the Internet television network’s stock.

Other analysts have also recently issued reports about the company. Macquarie reiterated an outperform rating and issued a $685.00 price target on shares of Netflix in a research report on Tuesday, July 16th. China Renaissance assumed coverage on shares of Netflix in a research report on Thursday, September 5th. They set a hold rating and a $680.00 target price for the company. TD Cowen boosted their price target on shares of Netflix from $775.00 to $820.00 and gave the company a buy rating in a research report on Monday, October 7th. Evercore ISI lifted their target price on shares of Netflix from $710.00 to $750.00 and gave the company an outperform rating in a research note on Tuesday, August 27th. Finally, Morgan Stanley increased their price target on Netflix from $780.00 to $820.00 and gave the stock an overweight rating in a research report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, Netflix has a consensus rating of Moderate Buy and an average target price of $702.79.

Netflix Trading Down 1.4 %

Shares of Netflix stock opened at $713.00 on Friday. Netflix has a 52-week low of $344.73 and a 52-week high of $736.00. The firm has a market capitalization of $307.30 billion, a PE ratio of 49.48, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The company’s fifty day moving average price is $688.89 and its two-hundred day moving average price is $652.34.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.74 by $0.14. The firm had revenue of $9.56 billion during the quarter, compared to analyst estimates 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 in the prior year, the business posted $3.29 earnings per share. On average, analysts expect that Netflix will post 19.08 EPS for the current year.

Insider Activity at Netflix

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 shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at approximately $19,128,159.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Reed Hastings sold 45,290 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the sale, the chairman now owns 85 shares of the company’s stock, valued at $60,023.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the transaction, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 225,167 shares of company stock worth $150,492,460 in the last ninety days. Company insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Creative Planning raised its holdings in shares of Netflix by 10.8% during the third quarter. Creative Planning now owns 110,551 shares of the Internet television network’s stock worth $78,410,000 after acquiring an additional 10,782 shares during the period. Wesbanco Bank Inc. raised its stake in shares of Netflix by 12.0% in the 3rd quarter. Wesbanco Bank Inc. now owns 8,979 shares of the Internet television network’s stock valued at $6,369,000 after purchasing an additional 964 shares during the period. Sivia Capital Partners LLC lifted its holdings in shares of Netflix by 5.6% in the third quarter. Sivia Capital Partners LLC now owns 1,124 shares of the Internet television network’s stock valued at $797,000 after purchasing an additional 60 shares in the last quarter. Grove Bank & Trust boosted its position in shares of Netflix by 3.0% during the third quarter. Grove Bank & Trust now owns 4,002 shares of the Internet television network’s stock worth $2,838,000 after buying an additional 117 shares during the period. Finally, Empirical Asset Management LLC bought a new position in shares of Netflix during the third quarter worth about $816,000. 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.