Pivotal Research Issues Positive Forecast for Netflix (NASDAQ:NFLX) Stock Price

Netflix (NASDAQ:NFLX) had its target price boosted by Pivotal Research from $925.00 to $1,100.00 in a research note released on Wednesday morning, MarketBeat reports. The brokerage currently has a buy rating on the Internet television network’s stock.

A number of other equities research analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Barclays reiterated an “underweight” rating and issued a $550.00 price objective on shares of Netflix in a research note on Friday, October 18th. BMO Capital Markets reiterated an “outperform” rating and issued a $825.00 target price (up from $770.00) on shares of Netflix in a research note on Friday, October 18th. Wedbush reissued an “outperform” rating and issued a $950.00 price objective (up from $800.00) on shares of Netflix in a research note on Monday. Finally, The Goldman Sachs Group set a $750.00 price target on shares of Netflix in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and an average price target of $758.76.

Netflix Stock Up 1.4 %

NFLX opened at $883.85 on Wednesday. The firm’s fifty day moving average is $747.20 and its 200 day moving average is $686.80. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. Netflix has a fifty-two week low of $445.73 and a fifty-two week high of $890.60. The stock has a market cap of $377.81 billion, a price-to-earnings ratio of 50.02, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The company had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. On average, sell-side analysts forecast that Netflix will post 19.78 earnings per share for the current fiscal year.

Insider Transactions at Netflix

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 completion of the sale, the chairman now directly owns 85 shares in the company, valued at $60,023.60. This trade represents a 99.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anne M. Sweeney sold 589 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total transaction of $518,320.00. The disclosure for this sale can be found here. Insiders sold a total of 185,866 shares of company stock valued at $133,393,921 over the last three months. 1.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Netflix

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC increased its stake in shares of Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after acquiring an additional 5,748,200 shares during the period. Assenagon Asset Management S.A. raised its position in Netflix by 154.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after acquiring an additional 642,920 shares in the last quarter. Jericho Capital Asset Management L.P. bought a new stake in Netflix in the first quarter worth $372,293,000. State Street Corp lifted its holdings in shares of Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after buying an additional 426,740 shares during the last quarter. Finally, Swedbank AB acquired a new position in Netflix during the 1st quarter valued at $216,538,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.