Sanford C. Bernstein Raises Netflix (NASDAQ:NFLX) Price Target to $625.00

Netflix (NASDAQ:NFLX) had its target price increased by Sanford C. Bernstein from $600.00 to $625.00 in a research note published on Friday, Benzinga reports. The firm currently has a market perform rating on the Internet television network’s stock.

Several other analysts have also recently issued reports on the company. Canaccord Genuity Group cut Netflix from a buy rating to a hold rating and cut their price objective for the company from $720.00 to $585.00 in a research note on Friday, April 19th. Argus raised their price target on Netflix from $660.00 to $767.00 and gave the stock a buy rating in a report on Tuesday, July 2nd. Macquarie reissued an outperform rating and issued a $685.00 price target on shares of Netflix in a report on Tuesday, July 16th. Needham & Company LLC reissued a buy rating and issued a $700.00 price target on shares of Netflix in a report on Monday, June 17th. Finally, Canaccord Genuity Group reissued a hold rating and issued a $585.00 price target (down previously from $720.00) on shares of Netflix in a report on Friday, April 19th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $680.76.

Netflix Trading Down 1.5 %

Shares of NASDAQ NFLX opened at $633.34 on Friday. The stock’s 50 day moving average price is $655.73 and its two-hundred day moving average price is $604.31. Netflix has a 52-week low of $344.73 and a 52-week high of $697.49. The stock has a market capitalization of $272.97 billion, a P/E ratio of 43.95, a PEG ratio of 1.37 and a beta of 1.27. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.74 by $0.14. Netflix had a return on equity of 33.22% and a net margin of 19.54%. The firm had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. During the same quarter in the prior year, the firm posted $3.29 earnings per share. Netflix’s revenue for the quarter was up 16.8% compared to the same quarter last year. On average, analysts anticipate that Netflix will post 18.99 earnings per share for the current fiscal year.

Insider Activity

In related news, Chairman Reed Hastings sold 18,361 shares of Netflix stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $551.54, for a total value of $10,126,825.94. Following the transaction, the chairman now directly owns 28 shares in the company, valued at approximately $15,443.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Anne M. Sweeney sold 3,029 shares of Netflix stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $580.00, for a total value of $1,756,820.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Reed Hastings sold 18,361 shares of Netflix stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $551.54, for a total value of $10,126,825.94. Following the completion of the transaction, the chairman now owns 28 shares in the company, valued at $15,443.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,385 shares of company stock worth $44,469,351. 1.76% of the stock is owned by company insiders.

Hedge Funds Weigh In On Netflix

Hedge funds have recently modified their holdings of the stock. Obermeyer Wood Investment Counsel Lllp boosted its position in shares of Netflix by 2.8% in the first quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock worth $378,000 after buying an additional 17 shares during the period. Private Portfolio Partners LLC boosted its position in shares of Netflix by 1.7% in the first quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock worth $633,000 after buying an additional 17 shares during the period. KFA Private Wealth Group LLC boosted its position in shares of Netflix by 1.9% in the fourth quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock worth $466,000 after buying an additional 18 shares during the period. Legacy Capital Group California Inc. boosted its position in shares of Netflix by 0.6% in the fourth quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network’s stock worth $1,379,000 after buying an additional 18 shares during the period. Finally, Founders Financial Alliance LLC boosted its position in shares of Netflix by 2.4% in the fourth quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock worth $369,000 after buying an additional 18 shares during the period. 80.93% of the stock is currently 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.