KeyCorp Boosts Netflix (NASDAQ:NFLX) Price Target to $760.00

Netflix (NASDAQ:NFLX) had its target price raised by KeyCorp from $735.00 to $760.00 in a research report released on Tuesday morning, MarketBeat.com reports. The brokerage currently has an overweight rating on the Internet television network’s stock.

Other equities research analysts have also recently issued research reports about the stock. China Renaissance began coverage on shares of Netflix in a research report on Thursday, September 5th. They set a hold rating and a $680.00 price objective for the company. Needham & Company LLC reaffirmed a buy rating and set a $700.00 price target on shares of Netflix in a report on Friday, July 19th. Guggenheim lifted their price objective on shares of Netflix from $700.00 to $735.00 and gave the company a buy rating in a research note on Wednesday, July 17th. Argus upped their target price on Netflix from $660.00 to $767.00 and gave the stock a buy rating in a research note on Tuesday, July 2nd. Finally, StockNews.com upgraded Netflix from a hold rating to a buy rating in a research note on Tuesday, September 24th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $686.03.

Netflix Trading Up 1.8 %

NFLX stock opened at $719.70 on Tuesday. Netflix has a 52 week low of $344.73 and a 52 week high of $725.26. The company has a market capitalization of $310.19 billion, a PE ratio of 49.94, a price-to-earnings-growth ratio of 1.44 and a beta of 1.26. The company’s 50-day simple moving average is $676.85 and its 200 day simple moving average is $647.86. 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 earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping the consensus estimate of $4.74 by $0.14. The company had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period last year, the firm earned $3.29 earnings per share. As a group, sell-side analysts anticipate that Netflix will post 19.08 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other Netflix news, Chairman Reed Hastings sold 25,599 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $631.43, for a total value of $16,163,976.57. Following the completion of the sale, the chairman now directly owns 57 shares in the company, valued at approximately $35,991.51. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Netflix news, Chairman Reed Hastings sold 25,599 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $631.43, for a total value of $16,163,976.57. Following the transaction, the chairman now owns 57 shares in the company, valued at approximately $35,991.51. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 224,784 shares of company stock valued at $150,212,870. 1.76% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Netflix by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock worth $22,220,936,000 after acquiring an additional 149,341 shares during the last quarter. Capital World Investors boosted its holdings in Netflix by 0.7% during the 4th quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock worth $5,718,265,000 after acquiring an additional 78,320 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after purchasing an additional 929,193 shares during the last quarter. Baillie Gifford & Co. lifted its position in shares of Netflix by 2.3% during the second quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock valued at $3,213,825,000 after purchasing an additional 106,756 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in Netflix by 1.8% during the fourth quarter. Fisher Asset Management LLC now owns 4,115,613 shares of the Internet television network’s stock worth $2,003,810,000 after purchasing an additional 72,807 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

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.