Wells Fargo & Company Boosts Netflix (NASDAQ:NFLX) Price Target to $1,560.00

Netflix (NASDAQ:NFLX - Get Free Report) had its price target hoisted by research analysts at Wells Fargo & Company from $1,500.00 to $1,560.00 in a research note issued on Friday,Benzinga reports. The firm currently has an "overweight" rating on the Internet television network's stock. Wells Fargo & Company's target price points to a potential upside of 29.12% from the stock's current price.

Several other analysts have also recently issued reports on the company. Jefferies Financial Group set a $1,500.00 price objective on Netflix and gave the stock a "buy" rating in a report on Friday. Cfra Research upgraded Netflix to a "strong-buy" rating in a research note on Monday, April 28th. Phillip Securities upgraded Netflix from a "moderate sell" rating to a "hold" rating in a research note on Monday, April 21st. The Goldman Sachs Group boosted their price objective on Netflix from $1,000.00 to $1,140.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Finally, Pivotal Research restated a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Netflix has a consensus rating of "Moderate Buy" and a consensus price target of $1,275.30.

Netflix Price Performance

Shares of NFLX stock traded down $65.95 during trading on Friday, hitting $1,208.22. The company had a trading volume of 8,959,951 shares, compared to its average volume of 3,795,987. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. The stock's 50-day moving average is $1,231.20 and its two-hundred day moving average is $1,058.57. The stock has a market capitalization of $514.18 billion, a price-to-earnings ratio of 57.12, a price-to-earnings-growth ratio of 2.26 and a beta of 1.59. 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 issued its quarterly 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 net margin of 23.07% and a return on equity of 39.61%. The business had revenue of $11.08 billion for the quarter, compared to analysts' expectations of $11.04 billion. During the same period last year, the business earned $4.88 earnings per share. The business's quarterly revenue was up 15.9% on a year-over-year basis. As a group, analysts predict that Netflix will post 24.58 EPS for the current fiscal year.

Insider Activity

In related news, Director Jay C. Hoag sold 32,515 shares of Netflix stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the completion of the sale, the director owned 79,040 shares of the company's stock, valued at approximately $87,099,708.80. The trade was a 29.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bradford L. Smith sold 3,919 shares of Netflix stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the sale, the director directly owned 7,969 shares of the company's stock, valued at $8,959,227.94. The trade was a 32.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 186,723 shares of company stock valued at $223,307,201 over the last quarter. 1.37% of the stock is currently owned by company insiders.

Institutional Trading of Netflix

A number of institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in shares of Netflix by 109,524.3% during the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after acquiring an additional 8,827,662 shares during the period. Norges Bank bought a new stake in shares of Netflix during the 4th quarter worth approximately $5,019,087,000. Nuveen LLC bought a new stake in shares of Netflix during the 1st quarter worth approximately $2,385,585,000. Kingstone Capital Partners Texas LLC lifted its holdings in shares of Netflix by 343,058.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 2,463,876 shares of the Internet television network's stock worth $3,299,450,000 after acquiring an additional 2,463,158 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Netflix by 57.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network's stock worth $3,164,134,000 after acquiring an additional 1,236,251 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.