Netflix (NASDAQ:NFLX) Price Target Raised to $820.00 at Morgan Stanley

Netflix (NASDAQ:NFLX) had its price target raised by Morgan Stanley from $780.00 to $820.00 in a report released on Thursday, MarketBeat.com reports. Morgan Stanley currently has an overweight rating on the Internet television network’s stock.

Several other research firms have also commented on NFLX. UBS Group lifted their price target on shares of Netflix from $685.00 to $750.00 and gave the company a buy rating in a report on Friday, July 19th. TD Cowen lifted their price target on shares of Netflix from $775.00 to $820.00 and gave the company a buy rating in a report on Monday. Macquarie reaffirmed an outperform rating and issued a $685.00 price target on shares of Netflix in a report on Tuesday, July 16th. China Renaissance began coverage on shares of Netflix in a report on Thursday, September 5th. They issued a hold rating and a $680.00 price target for the company. Finally, Loop Capital lifted their price target on shares of Netflix from $700.00 to $750.00 and gave the company a buy rating in a report on Tuesday, June 18th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $699.56.

Netflix Stock Up 0.4 %

NFLX stock traded up $2.97 during mid-day trading on Thursday, hitting $733.26. 318,891 shares of the company were exchanged, compared to its average volume of 3,639,737. The company has a market capitalization of $314.69 billion, a PE ratio of 45.96, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix has a twelve month low of $344.73 and a twelve month high of $736.00. The firm has a fifty day simple moving average of $684.42 and a 200 day simple moving average of $650.52.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping the consensus estimate of $4.74 by $0.14. The company had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period last year, the business earned $3.29 EPS. On average, research analysts forecast that Netflix will post 19.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 45,290 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total value of $31,981,986.40. Following the sale, the chairman now directly owns 85 shares in the company, valued at $60,023.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Leslie J. Kilgore sold 402 shares of Netflix stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total value of $291,450.00. Following the transaction, the director now directly owns 35,262 shares of the company’s stock, valued at $25,564,950. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Reed Hastings sold 45,290 shares of Netflix stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the completion of the transaction, the chairman now directly owns 85 shares in the company, valued at approximately $60,023.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 224,784 shares of company stock worth $150,212,870 in the last ninety days. 1.76% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NFLX. Heartland Bank & Trust Co grew its holdings in shares of Netflix by 0.9% in the 2nd quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock worth $1,195,000 after purchasing an additional 15 shares during the last quarter. Meritas Wealth Management LLC grew its holdings in Netflix by 2.9% during the 3rd quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock worth $406,000 after acquiring an additional 16 shares during the last quarter. Obermeyer Wood Investment Counsel Lllp grew its holdings 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 acquiring an additional 17 shares during the last quarter. Private Portfolio Partners LLC grew its holdings in Netflix by 1.7% during the 1st quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock worth $633,000 after acquiring an additional 17 shares during the last quarter. Finally, FAS Wealth Partners Inc. grew its holdings in Netflix by 1.5% during the 2nd quarter. FAS Wealth Partners Inc. now owns 1,164 shares of the Internet television network’s stock worth $786,000 after acquiring an additional 17 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

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.