Netflix (NASDAQ:NFLX) PT Raised to $659.00

Netflix (NASDAQ:NFLX) had its price objective hoisted by research analysts at The Goldman Sachs Group from $650.00 to $659.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the Internet television network’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 4.27% from the company’s current price.

A number of other analysts have also recently weighed in on NFLX. Needham & Company LLC restated a “buy” rating and issued a $700.00 price target on shares of Netflix in a research report on Friday. Oppenheimer restated an “outperform” rating and issued a $725.00 price target on shares of Netflix in a research report on Friday, April 19th. TD Cowen boosted their price target on shares of Netflix from $725.00 to $775.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Loop Capital boosted their price target on shares of Netflix from $700.00 to $750.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Finally, Canaccord Genuity Group lowered shares of Netflix from a “buy” rating to a “hold” rating and reduced their target price for the stock from $720.00 to $585.00 in a research report on Friday, April 19th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and a consensus target price of $664.40.

Netflix Stock Performance

Netflix stock traded down $11.04 on Friday, reaching $632.00. 7,267,469 shares of the stock were exchanged, compared to its average volume of 3,942,776. The stock has a market cap of $272.39 billion, a PE ratio of 43.92, a PEG ratio of 1.40 and a beta of 1.27. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. Netflix has a twelve month low of $344.73 and a twelve month high of $697.49. The firm has a fifty day moving average price of $655.28 and a two-hundred day moving average price of $601.42.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data 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. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The company had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. During the same quarter in the previous year, the firm posted $3.29 EPS. The business’s revenue was up 16.8% compared to the same quarter last year. Sell-side analysts anticipate that Netflix will post 18.35 EPS for the current year.

Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 22,526 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the transaction, the chairman now directly owns 57 shares of the company’s stock, valued at $38,217.93. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Netflix news, CFO Spencer Adam Neumann sold 564 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $613.08, for a total value of $345,777.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Reed Hastings sold 22,526 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the completion of the transaction, the chairman now directly owns 57 shares in the company, valued at $38,217.93. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,385 shares of company stock worth $44,469,351. 1.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Netflix

Several hedge funds and other institutional investors have recently made changes to their positions in NFLX. FORVIS Wealth Advisors LLC bought a new stake in Netflix during the 4th quarter worth approximately $216,000. Brookstone Capital Management grew its holdings in Netflix by 4.8% during the 4th quarter. Brookstone Capital Management now owns 6,825 shares of the Internet television network’s stock worth $3,323,000 after acquiring an additional 311 shares during the last quarter. Cyndeo Wealth Partners LLC grew its holdings in Netflix by 12.1% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 1,124 shares of the Internet television network’s stock worth $547,000 after acquiring an additional 121 shares during the last quarter. Fortitude Family Office LLC bought a new stake in Netflix during the 4th quarter worth approximately $57,000. Finally, Advisor Resource Council bought a new stake in Netflix during the 4th quarter worth approximately $1,156,000. 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.