Netflix (NASDAQ:NFLX) PT Raised to $785.00

Netflix (NASDAQ:NFLX) had its price target upped by equities research analysts at KeyCorp from $760.00 to $785.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the Internet television network’s stock. KeyCorp’s price objective would indicate a potential upside of 14.16% from the company’s current price.

Several other brokerages have also issued reports on NFLX. Pivotal Research upped their price target on Netflix from $900.00 to $925.00 and gave the company a “buy” rating in a research note on Friday. Needham & Company LLC upped their price target on Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $750.00 price target on shares of Netflix in a research note on Tuesday, October 8th. Rosenblatt Securities upped their price target on Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $713.24.

Netflix Price Performance

Shares of NFLX stock opened at $687.65 on Friday. The stock’s fifty day moving average is $693.78 and its 200-day moving average is $653.62. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $296.38 billion, a PE ratio of 47.72, a PEG ratio of 1.49 and a beta of 1.26. Netflix has a 52 week low of $344.73 and a 52 week high of $736.00.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping the consensus estimate of $4.74 by $0.14. The company had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.29 earnings per share. Equities research analysts expect that Netflix will post 19.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider David A. Hyman sold 20,656 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $19,128,159.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Netflix news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Spencer Adam Neumann sold 433 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total value of $271,140.27. The disclosure for this sale can be found here. Over the last three months, insiders sold 225,167 shares of company stock worth $150,492,460. 1.76% of the stock is owned by corporate insiders.

Institutional Trading of Netflix

Hedge funds have recently made changes to their positions in the business. Denver PWM LLC acquired a new stake in shares of Netflix in the second quarter valued at approximately $25,000. Valued Wealth Advisors LLC lifted its position in shares of Netflix by 80.0% in the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after buying an additional 20 shares during the last quarter. Proffitt & Goodson Inc. lifted its position in shares of Netflix by 380.0% in the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after buying an additional 38 shares during the last quarter. AlphaMark Advisors LLC lifted its holdings in Netflix by 642.9% during the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after purchasing an additional 45 shares during the last quarter. Finally, Indiana Trust & Investment Management CO lifted its holdings in Netflix by 112.0% during the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 28 shares during 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.