Netflix (NASDAQ:NFLX) PT Raised to $600.00

Netflix (NASDAQ:NFLX) had its price objective lifted by Sanford C. Bernstein from $490.00 to $600.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a market perform rating on the Internet television network’s stock.

A number of other equities research analysts have also weighed in on NFLX. Robert W. Baird boosted their price objective on shares of Netflix from $500.00 to $600.00 and gave the stock an outperform rating in a report on Wednesday, January 24th. KeyCorp boosted their price objective on shares of Netflix from $580.00 to $705.00 and gave the stock an overweight rating in a report on Wednesday, March 20th. StockNews.com upgraded shares of Netflix from a hold rating to a buy rating in a report on Monday, February 26th. Piper Sandler boosted their price objective on shares of Netflix from $550.00 to $600.00 and gave the stock a neutral rating in a report on Friday, April 12th. Finally, Needham & Company LLC upgraded shares of Netflix from a hold rating to a buy rating and set a $700.00 price objective for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat, Netflix currently has a consensus rating of Moderate Buy and an average target price of $630.58.

Netflix Trading Down 0.1 %

Shares of Netflix stock opened at $554.60 on Friday. Netflix has a 1 year low of $315.62 and a 1 year high of $639.00. The firm has a market cap of $238.98 billion, a PE ratio of 38.49, a PEG ratio of 1.49 and a beta of 1.22. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.12. The company has a 50 day simple moving average of $605.58 and a two-hundred day simple moving average of $516.27.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. During the same period in the previous year, the business posted $2.88 earnings per share. Netflix’s revenue for the quarter was up 14.8% on a year-over-year basis. Analysts expect that Netflix will post 17.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $610.42, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Netflix news, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were 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 legal filing with the SEC, which is available at this link. Also, insider David A. Hyman sold 47,574 shares of the stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $17,003,651.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 268,335 shares of company stock valued at $151,619,811. 2.45% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Capital World Investors boosted its position in shares of Netflix by 0.7% during the 4th quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock valued at $5,718,265,000 after acquiring an additional 78,320 shares during the last quarter. Jennison Associates LLC lifted its position in Netflix by 40.6% in the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after buying an additional 1,573,978 shares during the last quarter. Norges Bank bought a new stake in Netflix in the fourth quarter worth $2,558,598,000. Northern Trust Corp lifted its position in Netflix by 2.1% in the third quarter. Northern Trust Corp now owns 4,633,770 shares of the Internet television network’s stock worth $1,749,712,000 after buying an additional 96,938 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in Netflix by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 4,121,104 shares of the Internet television network’s stock worth $2,006,483,000 after buying an additional 78,298 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

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.