Argus Boosts Netflix (NASDAQ:NFLX) Price Target to $767.00

Netflix (NASDAQ:NFLX) had its target price lifted by Argus from $660.00 to $767.00 in a report released on Tuesday morning, MarketBeat Ratings reports. They currently have a buy rating on the Internet television network’s stock.

A number of other research firms also recently weighed in on NFLX. Morgan Stanley boosted their target price on Netflix from $600.00 to $700.00 and gave the stock an overweight rating in a research report on Friday, April 12th. Benchmark boosted their target price on Netflix from $440.00 to $450.00 and gave the stock a sell rating in a research report on Friday, May 17th. Wedbush restated an outperform rating and set a $725.00 target price on shares of Netflix in a research report on Monday, May 20th. CICC Research initiated coverage on Netflix in a research note on Thursday, May 2nd. They set an outperform rating and a $650.00 price objective for the company. Finally, Pivotal Research lifted their price objective on Netflix from $765.00 to $800.00 and gave the stock a buy rating in a research note on Friday, April 19th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $637.34.

Netflix Trading Up 0.4 %

Shares of NFLX opened at $682.51 on Tuesday. The stock has a fifty day moving average price of $635.90 and a two-hundred day moving average price of $588.63. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07. Netflix has a 52-week low of $344.73 and a 52-week high of $689.88. The company has a market cap of $294.16 billion, a price-to-earnings ratio of 47.36, a PEG ratio of 1.47 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (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 the consensus estimate of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.88 EPS. Analysts predict that Netflix will post 18.31 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 22,526 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the sale, the chairman now owns 57 shares in the company, valued at $38,217.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman Reed Hastings sold 22,526 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the sale, the chairman now owns 57 shares in the company, valued at $38,217.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anne M. Sweeney sold 633 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total value of $354,480.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,385 shares of company stock worth $44,469,351. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Several institutional investors and hedge funds have recently bought and sold shares of NFLX. Norges Bank bought a new stake in Netflix in the fourth quarter valued at approximately $2,558,598,000. Wellington Management Group LLP raised its stake in Netflix by 540.9% in the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock valued at $1,888,503,000 after buying an additional 3,273,592 shares during the period. GQG Partners LLC bought a new stake in Netflix in the first quarter valued at approximately $1,450,476,000. International Assets Investment Management LLC raised its stake in Netflix by 15,039.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock valued at $1,010,553,000 after buying an additional 2,061,859 shares during the period. Finally, Jennison Associates LLC raised its stake in Netflix by 40.6% in the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after buying an additional 1,573,978 shares during the period. 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.