Netflix (NASDAQ:NFLX) Given New $700.00 Price Target at Bank of America

Netflix (NASDAQ:NFLX - Free Report) had its price target boosted by Bank of America from $650.00 to $700.00 in a research report report published on Friday, Benzinga reports. They currently have a buy rating on the Internet television network's stock.

A number of other analysts have also commented on the company. Benchmark reiterated a sell rating and set a $440.00 price target on shares of Netflix in a report on Thursday. Redburn Atlantic boosted their price target on shares of Netflix from $550.00 to $610.00 and gave the stock a buy rating in a report on Wednesday, January 24th. StockNews.com raised shares of Netflix from a hold rating to a buy rating in a research report on Monday, February 26th. Wells Fargo & Company lifted their price target on Netflix from $650.00 to $726.00 and gave the company an overweight rating in a research report on Friday. Finally, Piper Sandler increased their price objective on Netflix from $550.00 to $600.00 and gave the stock a neutral rating in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have assigned a buy rating to the company's stock. According to MarketBeat.com, Netflix presently has a consensus rating of Moderate Buy and an average price target of $630.58.

Netflix Stock Down 9.1 %

NFLX stock traded down $55.52 during mid-day trading on Friday, reaching $555.04. 16,426,221 shares of the company traded hands, compared to its average volume of 4,457,433. Netflix has a fifty-two week low of $315.62 and a fifty-two week high of $639.00. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. The firm's 50 day moving average price is $605.77 and its 200 day moving average price is $511.86. The stock has a market cap of $240.20 billion, a price-to-earnings ratio of 46.42, a P/E/G ratio of 1.65 and a beta of 1.22.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly 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. Netflix had a return on equity of 24.76% and a net margin of 16.04%. The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. During the same quarter in the prior year, the company posted $2.88 earnings per share. Netflix's revenue was up 14.8% compared to the same quarter last year. As a group, equities research analysts predict that Netflix will post 17.05 EPS for the current fiscal year.

Insider Transactions at Netflix

In related news, insider David A. Hyman sold 47,574 shares of Netflix stock in a transaction that occurred on 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 sale, the insider now directly owns 31,610 shares in the company, valued at $17,003,651.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Netflix news, insider David A. Hyman sold 47,574 shares of the company's stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total value of $25,591,006.08. Following the sale, the insider now owns 31,610 shares in the company, valued at $17,003,651.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ann Mather sold 3,673 shares of Netflix stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total transaction of $2,203,800.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 268,335 shares of company stock valued at $151,619,811. Corporate insiders own 2.45% of the company's stock.

Institutional Investors Weigh In On Netflix

A number of institutional investors have recently modified their holdings of NFLX. Columbia Trust Co 01012016 raised its holdings in Netflix by 15.3% in the fourth quarter. Columbia Trust Co 01012016 now owns 1,566 shares of the Internet television network's stock worth $762,000 after buying an additional 208 shares during the last quarter. Crumly & Associates Inc. boosted its stake in Netflix by 4.1% during the 4th quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network's stock valued at $1,025,000 after purchasing an additional 83 shares during the last quarter. Venture Visionary Partners LLC raised its stake in shares of Netflix by 15.4% in the fourth quarter. Venture Visionary Partners LLC now owns 9,849 shares of the Internet television network's stock worth $4,795,000 after purchasing an additional 1,318 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Netflix by 142.6% during the third quarter. Assenagon Asset Management S.A. now owns 667,597 shares of the Internet television network's stock valued at $252,085,000 after buying an additional 392,427 shares during the last quarter. Finally, Sandy Cove Advisors LLC lifted its stake in Netflix by 10.6% during the 4th quarter. Sandy Cove Advisors LLC now owns 1,187 shares of the Internet television network's stock valued at $578,000 after acquiring an additional 114 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

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.