Netflix (NASDAQ:NFLX) Given New $600.00 Price Target at Sanford C. Bernstein

Netflix (NASDAQ:NFLX) had its price target hoisted by Sanford C. Bernstein from $490.00 to $600.00 in a report published on Friday morning, Benzinga reports. They currently have a market perform rating on the Internet television network’s stock.

Other equities analysts have also issued reports about the company. Canaccord Genuity Group upped their target price on Netflix from $575.00 to $625.00 and gave the company a buy rating in a research note on Wednesday, January 24th. DZ Bank upgraded Netflix from a hold rating to a buy rating and set a $600.00 price target for the company in a research note on Thursday, January 25th. Barclays upped their price target on Netflix from $475.00 to $550.00 and gave the stock an equal weight rating in a research note on Tuesday, April 9th. JPMorgan Chase & Co. upped their price target on Netflix from $610.00 to $650.00 and gave the stock an overweight rating in a research note on Monday, April 8th. Finally, Seaport Res Ptn lowered Netflix from a buy rating to a neutral rating in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $630.58.

Netflix Stock Performance

NASDAQ NFLX opened at $554.60 on Friday. Netflix has a fifty-two week low of $315.62 and a fifty-two week high of $639.00. The stock has a market cap of $238.98 billion, a price-to-earnings ratio of 38.49, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. The business has a fifty day moving average of $605.58 and a 200-day moving average of $516.27. The company has a quick ratio of 1.12, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating the consensus estimate of $4.51 by $0.77. The firm had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.88 earnings per share. As a group, analysts predict that Netflix will post 17.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, insider David A. Hyman sold 267 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total transaction of $148,454.67. Following the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $17,575,476.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider David A. Hyman sold 47,574 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total value of $25,591,006.08. Following the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $17,003,651.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total value of $148,454.67. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at $17,575,476.10. The disclosure for this sale can be found here. Insiders have sold 268,335 shares of company stock worth $151,619,811 over the last quarter. 2.45% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Netflix

Several large investors have recently modified their holdings of NFLX. International Assets Investment Management LLC boosted its stake in shares of Netflix by 1.8% during the 3rd quarter. International Assets Investment Management LLC now owns 13,710 shares of the Internet television network’s stock worth $5,177,000 after acquiring an additional 244 shares in the last quarter. Ronald Blue Trust Inc. boosted its position in shares of Netflix by 12.1% in the third quarter. Ronald Blue Trust Inc. now owns 740 shares of the Internet television network’s stock worth $279,000 after buying an additional 80 shares during the period. Avidian Wealth Solutions LLC boosted its position in shares of Netflix by 13.6% in the third quarter. Avidian Wealth Solutions LLC now owns 1,501 shares of the Internet television network’s stock worth $567,000 after buying an additional 180 shares during the period. Ritholtz Wealth Management boosted its position in shares of Netflix by 1.9% in the third quarter. Ritholtz Wealth Management now owns 4,690 shares of the Internet television network’s stock worth $1,771,000 after buying an additional 89 shares during the period. Finally, Janiczek Wealth Management LLC boosted its position in shares of Netflix by 51.7% in the third quarter. Janiczek Wealth Management LLC now owns 566 shares of the Internet television network’s stock worth $214,000 after buying an additional 193 shares during the period. 80.93% of the stock is owned by 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.