Netflix (NASDAQ:NFLX) Given New $660.00 Price Target at Pivotal Research

Netflix (NASDAQ:NFLX) had its target price boosted by Pivotal Research from $650.00 to $660.00 in a report issued on Wednesday morning, Analyst Ratings Network reports. They currently have a buy rating on the Internet television network’s stock.

NFLX has been the topic of several other research reports. Benchmark reduced their price target on shares of Netflix from $425.00 to $420.00 and set a sell rating on the stock in a research report on Monday, September 28th. Raymond James initiated coverage on Netflix in a research report on Wednesday, September 9th. They issued a market perform rating on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on Netflix from $500.00 to $525.00 and gave the company a buy rating in a research report on Friday, July 17th. Canaccord Genuity boosted their target price on Netflix from $550.00 to $630.00 and gave the company a buy rating in a research report on Thursday, October 15th. Finally, Goldman Sachs Group boosted their target price on Netflix from $600.00 to $670.00 and gave the company a buy rating in a research report on Wednesday, October 14th. Five research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-seven have given a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $521.65.

Shares of NFLX stock traded up $1.94 during trading on Wednesday, hitting $490.99. 44,006 shares of the stock traded hands, compared to its average volume of 7,541,033. The firm has a market capitalization of $215.68 billion, a P/E ratio of 82.47, a price-to-earnings-growth ratio of 2.82 and a beta of 0.95. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.12 and a quick ratio of 1.12. The firm’s fifty day moving average price is $507.97 and its 200-day moving average price is $467.78. Netflix has a 52-week low of $265.80 and a 52-week high of $575.37.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Tuesday, October 20th. The Internet television network reported $1.74 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.13 by ($0.39). The firm had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6.38 billion. Netflix had a net margin of 11.85% and a return on equity of 33.32%. The firm’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.47 EPS. As a group, equities research analysts expect that Netflix will post 6.28 earnings per share for the current year.

In other Netflix news, CEO Theodore A. Sarandos sold 10,000 shares of Netflix stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $475.00, for a total transaction of $4,750,000.00. Following the transaction, the chief executive officer now directly owns 9,709 shares in the company, valued at approximately $4,611,775. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Leslie J. Kilgore sold 1,481 shares of Netflix stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $485.57, for a total transaction of $719,129.17. Following the transaction, the director now owns 35,643 shares in the company, valued at $17,307,171.51. The disclosure for this sale can be found here. In the last three months, insiders have sold 332,986 shares of company stock worth $169,898,723. 3.40% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Netflix by 2.8% during the 2nd quarter. BlackRock Inc. now owns 29,171,135 shares of the Internet television network’s stock valued at $13,274,032,000 after acquiring an additional 797,481 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Netflix by 1.7% in the 2nd quarter. Jennison Associates LLC now owns 9,099,165 shares of the Internet television network’s stock valued at $4,140,484,000 after purchasing an additional 148,672 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Netflix by 24.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,873,203 shares of the Internet television network’s stock valued at $1,762,464,000 after purchasing an additional 759,686 shares during the last quarter. Fisher Asset Management LLC lifted its position in Netflix by 5.0% during the 2nd quarter. Fisher Asset Management LLC now owns 3,406,249 shares of the Internet television network’s stock worth $1,549,980,000 after acquiring an additional 161,395 shares during the last quarter. Finally, Morgan Stanley grew its holdings in shares of Netflix by 39.7% during the 1st quarter. Morgan Stanley now owns 2,685,577 shares of the Internet television network’s stock worth $1,008,435,000 after purchasing an additional 763,798 shares in the last quarter. Institutional investors and hedge funds own 80.63% of the company’s stock.

About Netflix

Netflix, Inc provides subscription streaming entertainment service. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

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