Netflix (NASDAQ:NFLX) Given New $800.00 Price Target at Needham & Company LLC

Netflix (NASDAQ:NFLX) had its price target boosted by Needham & Company LLC from $700.00 to $800.00 in a research report sent to investors on Friday, MarketBeat reports. The brokerage currently has a buy rating on the Internet television network’s stock.

Several other analysts have also recently weighed in on the stock. Bank of America raised their target price on shares of Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a report on Monday, July 15th. TD Cowen increased their price target on shares of Netflix from $775.00 to $820.00 and gave the company a “buy” rating in a research note on Monday, October 7th. KeyCorp increased their price target on shares of Netflix from $735.00 to $760.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Sanford C. Bernstein raised their target price on shares of Netflix from $600.00 to $625.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. Finally, Morgan Stanley raised their target price on shares of Netflix from $780.00 to $820.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $739.38.

Netflix Trading Up 11.1 %

NASDAQ NFLX opened at $763.89 on Friday. The firm’s 50-day moving average is $696.38 and its two-hundred day moving average is $654.66. Netflix has a 12 month low of $392.26 and a 12 month high of $766.28. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $329.24 billion, a P/E ratio of 53.01, a PEG ratio of 1.49 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.74 by $0.14. The business had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The business’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.29 earnings per share. On average, sell-side analysts anticipate that Netflix will post 19.08 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Reed Hastings sold 25,599 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the completion of the sale, the chairman now directly owns 57 shares of the company’s stock, valued at approximately $35,991.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David A. Hyman sold 20,656 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 225,167 shares of company stock valued at $150,492,460 in the last 90 days. 1.76% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Netflix

Several large investors have recently made changes to their positions in NFLX. Allspring Global Investments Holdings LLC lifted its holdings in Netflix by 26.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 182,106 shares of the Internet television network’s stock valued at $129,163,000 after purchasing an additional 38,166 shares during the last quarter. Compass Ion Advisors LLC grew its position in Netflix by 4.5% in the third quarter. Compass Ion Advisors LLC now owns 369 shares of the Internet television network’s stock valued at $262,000 after acquiring an additional 16 shares during the last quarter. Vest Financial LLC grew its position in Netflix by 154.1% in the third quarter. Vest Financial LLC now owns 1,794 shares of the Internet television network’s stock valued at $1,272,000 after acquiring an additional 1,088 shares during the last quarter. West Branch Capital LLC grew its position in Netflix by 30.3% in the third quarter. West Branch Capital LLC now owns 1,389 shares of the Internet television network’s stock valued at $985,000 after acquiring an additional 323 shares during the last quarter. Finally, OLD National Bancorp IN grew its holdings in shares of Netflix by 4.5% during the third quarter. OLD National Bancorp IN now owns 3,547 shares of the Internet television network’s stock worth $2,516,000 after purchasing an additional 154 shares during the last quarter. Institutional investors and hedge funds 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.