Netflix (NASDAQ:NFLX) Price Target Raised to $720.00

Netflix (NASDAQ:NFLX) had its price objective upped by Benchmark from $555.00 to $720.00 in a report published on Friday, Marketbeat.com reports. The brokerage currently has a sell rating on the Internet television network’s stock.

A number of other brokerages have also commented on NFLX. Loop Capital lowered Netflix from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $800.00 to $950.00 in a report on Monday, December 16th. Needham & Company LLC upped their target price on Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. Oppenheimer upped their target price on Netflix from $825.00 to $1,065.00 and gave the company an “outperform” rating in a report on Monday, December 16th. KeyCorp upped their target price on Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, Barclays reaffirmed an “underweight” rating and issued a $550.00 target price on shares of Netflix in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $813.00.

Netflix Stock Performance

Shares of NFLX opened at $881.05 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a 50 day moving average price of $866.57 and a two-hundred day moving average price of $746.99. The firm has a market capitalization of $376.61 billion, a P/E ratio of 49.86, a P/E/G ratio of 1.77 and a beta of 1.27. Netflix has a 52 week low of $466.53 and a 52 week high of $941.75.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The firm had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. Equities analysts forecast that Netflix will post 19.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, Director Leslie J. Kilgore sold 383 shares of Netflix stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total transaction of $279,590.00. Following the completion of the sale, the director now directly owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. The trade was a 1.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gregory K. Peters sold 4,186 shares of Netflix stock in a transaction on Friday, October 18th. The stock was sold at an average price of $750.00, for a total transaction of $3,139,500.00. Following the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $9,817,500. This represents a 24.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 150,761 shares of company stock valued at $125,713,484 in the last three months. Company insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Several hedge funds have recently added to or reduced their stakes in NFLX. Denver PWM LLC bought a new stake in Netflix in the second quarter worth $25,000. RPg Family Wealth Advisory LLC bought a new stake in Netflix in the third quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in Netflix in the third quarter worth $37,000. Finally, FSA Wealth Management LLC bought a new stake in Netflix in the third quarter worth $38,000. 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.