Netflix (NASDAQ:NFLX) Price Target Raised to $726.00 at Wells Fargo & Company

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

Other research analysts have also issued reports about the stock. Redburn Atlantic raised their price objective on shares of Netflix from $550.00 to $610.00 and gave the company a buy rating in a research note on Wednesday, January 24th. Macquarie raised their price objective on shares of Netflix from $595.00 to $685.00 and gave the stock an outperform rating in a report on Tuesday. Morgan Stanley raised their price objective on shares of Netflix from $600.00 to $700.00 and gave the stock an overweight rating in a report on Friday, April 12th. The Goldman Sachs Group raised their price objective on shares of Netflix from $500.00 to $565.00 and gave the stock a neutral rating in a report on Wednesday, January 24th. Finally, Sanford C. Bernstein lifted their target price on shares of Netflix from $390.00 to $490.00 and gave the stock a market perform rating in a research note on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $630.58.

Netflix Stock Down 9.1 %

Shares of NASDAQ NFLX opened at $555.04 on Friday. The firm has a market cap of $240.20 billion, a PE ratio of 38.52, a P/E/G ratio of 1.64 and a beta of 1.22. Netflix has a 12-month low of $315.62 and a 12-month high of $639.00. The company’s fifty day simple moving average is $605.65 and its 200 day simple moving average is $513.07. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.69.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.77. The business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.46%. Netflix’s revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.88 earnings per share. As a group, sell-side analysts forecast that Netflix will post 17.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Netflix news, CEO Gregory K. Peters sold 13,655 shares of the company’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $543.80, for a total value of $7,425,589.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $7,118,342. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Gregory K. Peters sold 13,655 shares of the stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $543.80, for a total value of $7,425,589.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $7,118,342. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David A. Hyman sold 47,574 shares of the stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the completion of the transaction, the insider now 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 worth $151,619,811. 2.45% of the stock is currently owned by corporate insiders.

Institutional Trading of Netflix

Institutional investors have recently bought and sold shares of the company. Indiana Trust & Investment Management CO grew its position 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 valued at $32,000 after purchasing an additional 28 shares during the last quarter. VitalStone Financial LLC grew its position in 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 purchasing an additional 56 shares during the last quarter. Aspect Partners LLC purchased a new stake in Netflix during the 4th quarter valued at about $32,000. Scarborough Advisors LLC purchased a new stake in shares of Netflix during the 4th quarter valued at about $32,000. Finally, Authentikos Wealth Advisory LLC purchased a new stake in shares of Netflix during the 3rd quarter valued at about $25,000. 80.93% of the stock is owned by hedge funds and other 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.