Deutsche Bank Aktiengesellschaft Increases Netflix (NASDAQ:NFLX) Price Target to $650.00

Netflix (NASDAQ:NFLX) had its price target upped by analysts at Deutsche Bank Aktiengesellschaft from $590.00 to $650.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the Internet television network’s stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential downside of 10.99% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Macquarie reaffirmed an “outperform” rating and set a $685.00 price target on shares of Netflix in a research report on Tuesday, July 16th. Redburn Atlantic upped their target price on shares of Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Guggenheim increased their price objective on shares of Netflix from $700.00 to $735.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. China Renaissance initiated coverage on shares of Netflix in a research note on Thursday, September 5th. They set a “hold” rating and a $680.00 price objective on the stock. Finally, Bank of America increased their price objective on shares of Netflix from $700.00 to $740.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and a consensus target price of $697.35.

Netflix Stock Performance

NASDAQ:NFLX opened at $730.29 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix has a fifty-two week low of $344.73 and a fifty-two week high of $733.85. The stock has a market cap of $313.42 billion, a PE ratio of 45.64, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. The firm’s fifty day simple moving average is $682.31 and its 200-day simple moving average is $649.96.

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 analysts’ consensus estimates of $4.74 by $0.14. The business 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 revenue was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.29 earnings per share. Analysts expect that Netflix will post 19.08 earnings per share for the current fiscal year.

Insider Activity at Netflix

In related news, CFO Spencer Adam Neumann sold 433 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total transaction of $271,140.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction on 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 completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $19,128,159.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 224,784 shares of company stock valued at $150,212,870 in the last three months. Corporate insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

A number of institutional investors have recently made changes to their positions in NFLX. Denver PWM LLC bought a new position in Netflix during the second quarter worth about $25,000. Valued Wealth Advisors LLC lifted its holdings in Netflix by 80.0% during the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 20 shares in the last quarter. Beaird Harris Wealth Management LLC lifted its holdings in Netflix by 1,550.0% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 62 shares in the last quarter. Scarborough Advisors LLC bought a new position in Netflix during the fourth quarter worth about $32,000. Finally, Indiana Trust & Investment Management CO lifted its holdings in Netflix by 112.0% during the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 28 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

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.