Pivotal Research Boosts Netflix (NASDAQ:NFLX) Price Target to $900.00

Netflix (NASDAQ:NFLX) had its price objective increased by Pivotal Research from $800.00 to $900.00 in a report issued on Friday, Marketbeat reports. The firm currently has a buy rating on the Internet television network’s stock.

NFLX has been the topic of a number of other research reports. Rosenblatt Securities increased their target price on shares of Netflix from $554.00 to $635.00 and gave the stock a neutral rating in a research report on Friday, July 19th. StockNews.com lowered shares of Netflix from a buy rating to a hold rating in a research report on Thursday. Guggenheim increased their target price on shares of Netflix from $700.00 to $735.00 and gave the stock a buy rating in a research report on Wednesday, July 17th. Macquarie restated an outperform rating and set a $685.00 target price on shares of Netflix in a research report on Tuesday, July 16th. Finally, Argus upped their price target on shares of Netflix from $660.00 to $767.00 and gave the stock a buy rating in a report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $685.45.

Netflix Stock Up 1.3 %

Shares of NFLX opened at $701.35 on Friday. Netflix has a 52 week low of $344.73 and a 52 week high of $711.33. The firm has a market cap of $301.00 billion, a P/E ratio of 48.67, a price-to-earnings-growth ratio of 1.44 and a beta of 1.27. The firm’s 50-day simple moving average is $659.34 and its 200 day simple moving average is $631.17. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The business had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. During the same quarter in the prior year, the business earned $3.29 EPS. Netflix’s quarterly revenue was up 16.8% on a year-over-year basis. On average, analysts forecast that Netflix will post 19.08 earnings per share for the current year.

Insider Transactions at Netflix

In other news, Director Jay C. Hoag sold 37,675 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $629.73, for a total transaction of $23,725,077.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Spencer Adam Neumann sold 433 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total transaction of $271,140.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jay C. Hoag sold 37,675 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $629.73, for a total transaction of $23,725,077.75. The disclosure for this sale can be found here. Insiders sold a total of 132,757 shares of company stock worth $85,648,496 over the last three months. 1.76% of the stock is owned by company insiders.

Institutional Investors Weigh In On Netflix

Several large investors have recently modified their holdings of NFLX. Norges Bank acquired a new stake in Netflix in the fourth quarter worth $2,558,598,000. Wellington Management Group LLP grew its holdings in Netflix by 540.9% in the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after purchasing an additional 3,273,592 shares during the period. GQG Partners LLC acquired a new stake in Netflix in the first quarter worth $1,450,476,000. Jennison Associates LLC grew its holdings in Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after purchasing an additional 929,193 shares during the period. Finally, Global Assets Advisory LLC acquired a new stake in Netflix in the first quarter worth $436,514,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.