Wells Fargo & Company Raises Netflix (NASDAQ:NFLX) Price Target to $797.00

Netflix (NASDAQ:NFLX) had its target price lifted by analysts at Wells Fargo & Company from $758.00 to $797.00 in a report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the Internet television network’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 5.77% from the company’s current price.

NFLX has been the topic of a number of other research reports. Barclays reaffirmed an “underweight” rating and issued a $550.00 price objective on shares of Netflix in a report on Monday, October 7th. China Renaissance assumed coverage on shares of Netflix in a report on Thursday, September 5th. They issued a “hold” rating and a $680.00 price objective on the stock. Redburn Atlantic increased their price objective on shares of Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a report on Friday, July 19th. The Goldman Sachs Group increased their price objective on shares of Netflix from $650.00 to $659.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Finally, Rosenblatt Securities increased their price objective on shares of Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $731.94.

Netflix Stock Performance

Shares of Netflix stock traded up $65.88 during trading hours on Friday, reaching $753.53. The company’s stock had a trading volume of 5,342,535 shares, compared to its average volume of 3,670,801. The company’s 50 day simple moving average is $693.78 and its 200 day simple moving average is $653.62. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. Netflix has a one year low of $392.26 and a one year high of $756.90. The stock has a market cap of $324.77 billion, a P/E ratio of 52.29, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26.

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

Insiders Place Their Bets

In other Netflix news, insider David A. Hyman sold 20,656 shares of the firm’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 completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Chairman Reed Hastings sold 25,599 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were 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 in the company, valued at approximately $35,991.51. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction that occurred 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 225,167 shares of company stock worth $150,492,460 over the last ninety days. 1.76% of the stock is currently owned by company insiders.

Institutional Trading of Netflix

Several institutional investors have recently made changes to their positions in NFLX. GQG Partners LLC acquired a new stake in shares of Netflix during the first quarter worth approximately $1,450,476,000. Jennison Associates LLC lifted its stake in Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after acquiring an additional 929,193 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in Netflix in the first quarter valued at approximately $436,514,000. Jericho Capital Asset Management L.P. acquired a new stake in Netflix in the first quarter valued at approximately $372,293,000. Finally, Swedbank AB acquired a new stake in Netflix in the first quarter valued at approximately $216,538,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.