Netflix (NASDAQ:NFLX) PT Raised to $797.00

Netflix (NASDAQ:NFLX) had its price objective increased by Wells Fargo & Company from $758.00 to $797.00 in a research report report published on Friday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the Internet television network’s stock.

NFLX has been the topic of several other reports. Evercore ISI lifted their price target on shares of Netflix from $710.00 to $750.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 27th. StockNews.com raised shares of Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Barclays reaffirmed an “underweight” rating and issued a $550.00 target price on shares of Netflix in a research note on Monday, October 7th. Wedbush lifted their target price on shares of Netflix from $725.00 to $775.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $840.00 target price (up from $800.00) on shares of Netflix in a research note on Friday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $747.70.

Netflix Trading Up 1.1 %

Shares of NFLX opened at $772.07 on Friday. The company has a market capitalization of $332.76 billion, a P/E ratio of 53.58, a P/E/G ratio of 1.49 and a beta of 1.26. Netflix has a 1-year low of $395.62 and a 1-year high of $773.00. The firm’s 50 day simple moving average is $699.16 and its 200 day simple moving average is $656.21. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95.

Insider Activity

In related news, Director Leslie J. Kilgore sold 358 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $765.00, for a total value of $273,870.00. Following the completion of the sale, the director now directly owns 35,262 shares in the company, valued at $26,975,430. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Gregory K. Peters sold 4,186 shares of Netflix stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $750.00, for a total value of $3,139,500.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at $9,817,500. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Leslie J. Kilgore sold 358 shares of Netflix stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $765.00, for a total value of $273,870.00. Following the completion of the sale, the director now owns 35,262 shares of the company’s stock, valued at $26,975,430. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 229,711 shares of company stock worth $153,905,830. 1.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Netflix

Several institutional investors and hedge funds have recently added to or reduced their stakes in NFLX. GQG Partners LLC purchased a new stake in shares of Netflix during the first quarter worth about $1,450,476,000. Jennison Associates LLC lifted its holdings in shares of Netflix by 17.0% during the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after purchasing an additional 929,193 shares during the period. Global Assets Advisory LLC acquired a new stake in shares of Netflix during the first quarter worth about $436,514,000. Jericho Capital Asset Management L.P. acquired a new stake in shares of Netflix during the first quarter worth about $372,293,000. Finally, Swedbank AB acquired a new position in Netflix in the first quarter valued at approximately $216,538,000. Hedge funds and other institutional investors 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.