Netflix (NASDAQ:NFLX) Given New $726.00 Price Target at Wells Fargo & Company

Netflix (NASDAQ:NFLX) had its price target lifted by Wells Fargo & Company from $650.00 to $726.00 in a report published on Friday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the Internet television network’s stock.

A number of other research firms have also recently commented on NFLX. Morgan Stanley increased their target price on shares of Netflix from $600.00 to $700.00 and gave the stock an overweight rating in a report on Friday, April 12th. Wedbush boosted their target price on shares of Netflix from $615.00 to $725.00 and gave the stock an outperform rating in a research note on Wednesday, March 27th. Barclays increased their price target on Netflix from $475.00 to $550.00 and gave the company an equal weight rating in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on Netflix from $525.00 to $550.00 and gave the stock a hold rating in a research report on Monday, April 15th. Finally, UBS Group increased their target price on Netflix from $570.00 to $685.00 and gave the company a buy rating in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $630.58.

Netflix Price Performance

NFLX stock opened at $554.60 on Friday. The company’s 50-day moving average price is $605.58 and its two-hundred day moving average price is $516.27. The firm has a market cap of $238.98 billion, a P/E ratio of 38.49, a P/E/G ratio of 1.49 and a beta of 1.22. The company has a quick ratio of 1.12, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. Netflix has a 12 month low of $315.62 and a 12 month high of $639.00.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The firm had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. During the same period in the prior year, the company earned $2.88 earnings per share. The company’s quarterly revenue was up 14.8% on a year-over-year basis. On average, analysts anticipate that Netflix will post 17.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Netflix news, Chairman Reed Hastings sold 20,566 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the completion of the sale, the chairman now directly owns 28 shares of the company’s stock, valued at approximately $17,091.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Theodore A. Sarandos sold 68,957 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the transaction, the chief executive officer now directly owns 1,278 shares of the company’s stock, valued at $717,379.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 20,566 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the completion of the sale, the chairman now directly owns 28 shares of the company’s stock, valued at $17,091.76. The disclosure for this sale can be found here. Insiders have sold 268,335 shares of company stock worth $151,619,811 in the last quarter. Insiders own 2.45% of the company’s stock.

Hedge Funds Weigh In On Netflix

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Indiana Trust & Investment Management CO grew its position 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 valued at $32,000 after buying an additional 28 shares during the period. VitalStone Financial LLC grew its position in shares of Netflix by 933.3% during the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after acquiring an additional 56 shares during the period. Scarborough Advisors LLC purchased a new stake in shares of Netflix during the 4th quarter worth approximately $32,000. Authentikos Wealth Advisory LLC bought a new stake in shares of Netflix in the 3rd quarter worth approximately $25,000. Finally, Beaird Harris Wealth Management LLC grew 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 valued at $32,000 after purchasing an additional 62 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

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.