Netflix (NASDAQ:NFLX) PT Raised to $820.00 at TD Cowen

Netflix (NASDAQ:NFLX) had its price objective boosted by TD Cowen from $775.00 to $820.00 in a research report released on Monday morning, Benzinga reports. They currently have a buy rating on the Internet television network’s stock.

Several other equities analysts have also issued reports on NFLX. Evercore ISI lifted their target price on shares of Netflix from $710.00 to $750.00 and gave the company an outperform rating in a report on Tuesday, August 27th. Benchmark boosted their price objective on shares of Netflix from $450.00 to $545.00 and gave the stock a sell rating in a report on Tuesday, July 16th. Needham & Company LLC restated a buy rating and issued a $700.00 price objective on shares of Netflix in a report on Friday, July 19th. Piper Sandler upgraded shares of Netflix from a neutral rating to an overweight rating and boosted their price objective for the stock from $650.00 to $800.00 in a report on Monday. Finally, Guggenheim boosted their price objective on shares of Netflix from $700.00 to $735.00 and gave the stock a buy rating in a report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $697.35.

Netflix Stock Performance

Netflix stock opened at $730.29 on Monday. The stock’s 50 day simple moving average is $682.31 and its two-hundred day simple moving average is $649.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market cap of $313.42 billion, a price-to-earnings ratio of 45.64, a PEG ratio of 1.49 and a beta of 1.26. Netflix has a fifty-two week low of $344.73 and a fifty-two week high of $733.85.

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

Insiders Place Their Bets

In other Netflix news, Chairman Reed Hastings sold 45,290 shares of Netflix stock in a transaction 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 transaction, the chairman now directly owns 85 shares of the company’s stock, valued at approximately $60,023.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Netflix news, Chairman Reed Hastings sold 45,290 shares of Netflix stock in a transaction 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 transaction, the chairman now directly owns 85 shares of the company’s stock, valued at approximately $60,023.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction 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 20,656 shares of Netflix stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 224,784 shares of company stock valued at $150,212,870. 1.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Netflix

Several institutional investors and hedge funds have recently made changes to their positions in NFLX. DigitalBridge Group Inc. lifted its position in Netflix by 35.5% during the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after purchasing an additional 9,451 shares during the period. M&G Plc acquired a new position in Netflix during the first quarter valued at $9,682,000. BSN CAPITAL PARTNERS Ltd lifted its position in Netflix by 24.4% during the first quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock valued at $155,185,000 after purchasing an additional 49,000 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Netflix by 58.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock valued at $55,968,000 after purchasing an additional 30,511 shares during the period. Finally, Scarborough Advisors LLC acquired a new position in Netflix during the fourth quarter valued at $9,513,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.