Benchmark Raises Netflix (NASDAQ:NFLX) Price Target to $450.00

Netflix (NASDAQ:NFLX - Get Free Report) had its price objective boosted by research analysts at Benchmark from $440.00 to $450.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a "sell" rating on the Internet television network's stock. Benchmark's price target points to a potential downside of 27.55% from the stock's previous close.

Several other research analysts have also recently weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of Netflix from $500.00 to $565.00 and gave the stock a "neutral" rating in a report on Wednesday, January 24th. Bank of America lifted their price objective on shares of Netflix from $650.00 to $700.00 and gave the stock a "buy" rating in a research report on Friday, April 19th. KeyCorp lifted their price objective on shares of Netflix from $580.00 to $705.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 20th. Macquarie lifted their price objective on shares of Netflix from $595.00 to $685.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 16th. Finally, Redburn Atlantic lifted their price objective on shares of Netflix from $550.00 to $610.00 and gave the stock a "buy" rating in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $630.53.

Netflix Stock Up 1.7 %

Shares of NASDAQ NFLX traded up $10.58 during mid-day trading on Friday, reaching $621.10. 3,778,227 shares of the company's stock traded hands, compared to its average volume of 4,313,371. The stock has a market cap of $267.69 billion, a P/E ratio of 43.07, a PEG ratio of 1.48 and a beta of 1.23. The business has a 50-day simple moving average of $603.80 and a 200 day simple moving average of $539.88. Netflix has a 1-year low of $344.73 and a 1-year high of $639.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.51 by $0.77. The firm had revenue of $9.37 billion during the quarter, compared to analysts' expectations of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business's revenue was up 14.8% on a year-over-year basis. During the same period last year, the company earned $2.88 earnings per share. On average, analysts expect that Netflix will post 18.3 EPS for the current fiscal year.

Insider Activity

In related news, insider David A. Hyman sold 268 shares of the company's stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $593.62, for a total transaction of $159,090.16. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $18,764,328.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Netflix news, CFO Spencer Adam Neumann sold 564 shares of the company's stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $613.08, for a total value of $345,777.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David A. Hyman sold 268 shares of the company's stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $593.62, for a total transaction of $159,090.16. Following the completion of the transaction, the insider now owns 31,610 shares of the company's stock, valued at $18,764,328.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 78,039 shares of company stock valued at $46,401,083. Corporate insiders own 1.76% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NFLX. Obermeyer Wood Investment Counsel Lllp grew its stake in Netflix by 2.8% during the 1st 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 last quarter. Private Portfolio Partners LLC raised its holdings in Netflix by 1.7% during the first quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network's stock worth $633,000 after purchasing an additional 17 shares during the last quarter. KFA Private Wealth Group LLC raised its holdings in Netflix by 1.9% during the fourth quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network's stock worth $466,000 after purchasing an additional 18 shares during the last quarter. Legacy Capital Group California Inc. raised its holdings in Netflix by 0.6% during 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 purchasing an additional 18 shares during the last quarter. Finally, Founders Financial Alliance LLC raised its holdings in Netflix by 2.4% during the fourth quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network's stock worth $369,000 after purchasing an additional 18 shares during the last quarter. 80.93% of the stock is currently owned by 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.