Netflix (NASDAQ:NFLX) Price Target Raised to $1,390.00

Netflix (NASDAQ:NFLX - Get Free Report) had its price target increased by stock analysts at Sanford C. Bernstein from $1,200.00 to $1,390.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the Internet television network's stock. Sanford C. Bernstein's price target would suggest a potential upside of 14.95% from the stock's current price.

A number of other brokerages also recently issued reports on NFLX. Piper Sandler set a $1,400.00 price target on Netflix and gave the company an "overweight" rating in a report on Friday, July 11th. Jefferies Financial Group upped their price target on shares of Netflix from $1,200.00 to $1,400.00 and gave the company a "buy" rating in a research note on Tuesday, June 3rd. Canaccord Genuity Group restated a "buy" rating on shares of Netflix in a report on Thursday, July 10th. KeyCorp lifted their price target on Netflix from $1,070.00 to $1,390.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Barclays restated a "sell" rating and set a $1,100.00 price target (up previously from $1,000.00) on shares of Netflix in a report on Wednesday, July 9th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,291.41.

Netflix Trading Down 5.1%

Shares of NFLX stock traded down $64.93 during mid-day trading on Thursday, reaching $1,209.24. The stock had a trading volume of 10,678,762 shares, compared to its average volume of 3,762,863. The firm has a market capitalization of $514.62 billion, a PE ratio of 51.52, a price-to-earnings-growth ratio of 2.15 and a beta of 1.59. The stock's 50-day moving average price is $1,232.59 and its two-hundred day moving average price is $1,061.94. The company has a current ratio of 1.34, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. Netflix has a 52-week low of $587.04 and a 52-week high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The company had revenue of $11.08 billion during the quarter, compared to analysts' expectations of $11.04 billion. During the same quarter last year, the business posted $4.88 EPS. The firm's revenue for the quarter was up 15.9% compared to the same quarter last year. Equities analysts expect that Netflix will post 24.58 earnings per share for the current fiscal year.

Insider Activity at Netflix

In other news, Director Reed Hastings sold 26,977 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $1,133.05, for a total transaction of $30,566,289.85. Following the completion of the transaction, the director directly owned 394 shares in the company, valued at approximately $446,421.70. This represents a 98.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jay C. Hoag sold 32,515 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the completion of the sale, the director directly owned 79,040 shares in the company, valued at approximately $87,099,708.80. The trade was a 29.15% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 186,723 shares of company stock valued at $223,307,201. 1.37% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Netflix

Several large investors have recently bought and sold shares of NFLX. Halbert Hargrove Global Advisors LLC raised its holdings in shares of Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after buying an additional 13 shares during the last quarter. Brown Shipley& Co Ltd purchased a new stake in Netflix during the 4th quarter valued at approximately $27,000. Transce3nd LLC acquired a new stake in Netflix during the 4th quarter worth approximately $32,000. Copia Wealth Management acquired a new stake in Netflix during the 4th quarter worth approximately $37,000. Finally, Flaharty Asset Management LLC purchased a new position in shares of Netflix in the 1st quarter valued at approximately $37,000. Hedge funds and other institutional investors own 80.93% of the company's stock.

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.