Netflix (NASDAQ:NFLX) Price Target Increased to $785.00 by Analysts at KeyCorp

Netflix (NASDAQ:NFLX) had its target price raised by KeyCorp from $760.00 to $785.00 in a research report report published on Friday, MarketBeat.com reports. The firm currently has an overweight rating on the Internet television network’s stock.

Several other research analysts also recently weighed in on NFLX. Bank of America boosted their price target on Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a report on Monday, July 15th. Oppenheimer increased their target price on Netflix from $775.00 to $825.00 and gave the stock an “outperform” rating in a research report on Friday. Pivotal Research lifted their price target on Netflix from $900.00 to $925.00 and gave the company a “buy” rating in a report on Friday. Barclays reiterated an “underweight” rating and set a $550.00 price objective on shares of Netflix in a report on Monday, October 7th. Finally, Piper Sandler raised shares of Netflix from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $650.00 to $800.00 in a research report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $739.38.

Netflix Stock Up 11.1 %

NFLX opened at $763.89 on Friday. The business’s fifty day simple moving average is $696.38 and its 200 day simple moving average is $654.66. Netflix has a 52 week low of $392.26 and a 52 week high of $766.28. The firm has a market cap of $329.24 billion, a P/E ratio of 53.01, a PEG ratio of 1.49 and a beta of 1.26. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 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 business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. During the same period in the previous year, the firm posted $3.29 earnings per share. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Netflix will post 19.08 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, insider David A. Hyman sold 20,656 shares of the business’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 sale, the insider now 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider David A. Hyman sold 20,656 shares of Netflix 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 completion of the transaction, the insider now owns 31,610 shares in the company, valued at approximately $19,128,159.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leslie J. Kilgore sold 383 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the sale, the director now directly owns 35,262 shares in the company, valued at approximately $25,741,260. This represents 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 worth $150,492,460 in the last ninety days. 1.76% of the stock is owned by insiders.

Institutional Trading of Netflix

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Netflix by 0.4% in the first quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock worth $22,220,936,000 after purchasing an additional 149,341 shares during the period. Jennison Associates LLC lifted its position in shares of Netflix by 17.0% in the 1st 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 in the last quarter. Baillie Gifford & Co. boosted its stake in Netflix by 2.3% in the 2nd quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock worth $3,213,825,000 after purchasing an additional 106,756 shares during the period. Legal & General Group Plc boosted its position in shares of Netflix by 3.1% in the second quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock worth $2,327,738,000 after buying an additional 104,332 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Netflix by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,281,306 shares of the Internet television network’s stock valued at $2,214,488,000 after acquiring an additional 83,762 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

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.