Wells Fargo & Company Raises Netflix (NASDAQ:NFLX) Price Target to $726.00

Netflix (NASDAQ:NFLX) had its price target increased by Wells Fargo & Company from $650.00 to $726.00 in a research report released on Friday, Benzinga reports. The brokerage currently has an overweight rating on the Internet television network’s stock.

Several other equities analysts have also weighed in on NFLX. Macquarie boosted their target price on shares of Netflix from $595.00 to $685.00 and gave the company an outperform rating in a report on Tuesday. KeyCorp upped their price objective on shares of Netflix from $580.00 to $705.00 and gave the stock an overweight rating in a report on Wednesday, March 20th. Oppenheimer upped their price objective on shares of Netflix from $615.00 to $725.00 and gave the stock an outperform rating in a report on Monday, March 11th. The Goldman Sachs Group upped their price objective on shares of Netflix from $500.00 to $565.00 and gave the stock a neutral rating in a report on Wednesday, January 24th. Finally, Canaccord Genuity Group upped their price objective on shares of Netflix from $575.00 to $625.00 and gave the stock a buy rating in a report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $630.58.

Netflix Stock Performance

NASDAQ:NFLX opened at $555.04 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $240.20 billion, a price-to-earnings ratio of 38.52, a PEG ratio of 1.64 and a beta of 1.22. The company’s 50-day moving average is $605.65 and its two-hundred day moving average is $513.07. Netflix has a 1-year low of $315.62 and a 1-year high of $639.00.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.77. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.46%. Netflix’s revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.88 EPS. Analysts forecast that Netflix will post 17.08 EPS for the current year.

Insider Buying and Selling at Netflix

In other Netflix news, CEO Gregory K. Peters sold 5,352 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $625.00, for a total transaction of $3,345,000.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $8,181,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Netflix news, CEO Gregory K. Peters sold 13,655 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $543.80, for a total transaction of $7,425,589.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $7,118,342. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gregory K. Peters sold 5,352 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $625.00, for a total transaction of $3,345,000.00. Following the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $8,181,250. The disclosure for this sale can be found here. In the last three months, insiders sold 268,335 shares of company stock worth $151,619,811. 2.45% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Netflix

Hedge funds and other institutional investors have recently modified their holdings of the company. Authentikos Wealth Advisory LLC purchased a new stake in shares of Netflix during the third quarter worth about $25,000. Spartan Planning & Wealth Management purchased a new stake in shares of Netflix during the third quarter worth about $26,000. Carmel Capital Partners LLC grew its holdings in Netflix by 290.0% in the third quarter. Carmel Capital Partners LLC now owns 78 shares of the Internet television network’s stock valued at $30,000 after purchasing an additional 58 shares during the period. VitalStone Financial LLC grew its holdings in Netflix by 933.3% in the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after purchasing an additional 56 shares during the period. Finally, Aspect Partners LLC purchased a new stake in Netflix in the fourth quarter valued at approximately $32,000. 80.93% of the stock is currently 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.