Netflix (NASDAQ:NFLX) Price Target Raised to $1,000.00 at Bank of America

Netflix (NASDAQ:NFLX - Get Free Report) had its target price hoisted by analysts at Bank of America from $800.00 to $1,000.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the Internet television network's stock. Bank of America's price objective indicates a potential upside of 11.60% from the stock's current price.

A number of other research firms also recently commented on NFLX. Wells Fargo & Company upped their price objective on Netflix from $758.00 to $797.00 and gave the company an "overweight" rating in a report on Friday, October 18th. Needham & Company LLC increased their price target on shares of Netflix from $700.00 to $800.00 and gave the company a "buy" rating in a research report on Friday, October 18th. Jefferies Financial Group lifted their price objective on shares of Netflix from $780.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, October 18th. Pivotal Research upped their target price on shares of Netflix from $925.00 to $1,100.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, China Renaissance initiated coverage on shares of Netflix in a research report on Thursday, September 5th. They set a "hold" rating and a $680.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the company's stock. According to MarketBeat, Netflix has a consensus rating of "Moderate Buy" and a consensus price target of $764.82.

Netflix Trading Up 1.4 %

Shares of NASDAQ NFLX traded up $12.20 during mid-day trading on Thursday, hitting $896.05. The company's stock had a trading volume of 3,718,821 shares, compared to its average volume of 3,667,581. Netflix has a one year low of $445.73 and a one year high of $908.00. The company's fifty day simple moving average is $747.20 and its 200-day simple moving average is $686.80. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market cap of $383.03 billion, a price-to-earnings ratio of 50.30, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.09 by $0.31. The firm had revenue of $9.82 billion for the quarter, compared to analysts' expectations of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. On average, sell-side analysts anticipate that Netflix will post 19.78 earnings per share for the current fiscal year.

Insider Activity at Netflix

In other news, Director Jay C. Hoag sold 43,750 shares of the business's stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $687.07, for a total transaction of $30,059,312.50. Following the completion of the sale, the director now owns 95,040 shares in the company, valued at $65,299,132.80. The trade was a 31.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Reed Hastings sold 25,074 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total value of $17,073,388.08. Following the transaction, the chairman now owns 85 shares in the company, valued at approximately $57,878.20. This trade represents a 99.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 185,866 shares of company stock worth $133,393,921. Insiders own 1.76% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its holdings in Netflix by 10.2% in the 1st quarter. Advisors Asset Management Inc. now owns 5,092 shares of the Internet television network's stock valued at $3,093,000 after acquiring an additional 471 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in Netflix by 24.8% in the first quarter. Westwood Holdings Group Inc. now owns 3,570 shares of the Internet television network's stock valued at $2,168,000 after purchasing an additional 710 shares in the last quarter. Gamco Investors INC. ET AL lifted its position in Netflix by 2.1% during the first quarter. Gamco Investors INC. ET AL now owns 20,420 shares of the Internet television network's stock worth $12,402,000 after purchasing an additional 413 shares during the period. Epoch Investment Partners Inc. acquired a new stake in Netflix during the first quarter worth about $260,000. Finally, Lazard Asset Management LLC increased its holdings in Netflix by 35.0% in the 1st quarter. Lazard Asset Management LLC now owns 128,449 shares of the Internet television network's stock valued at $78,010,000 after buying an additional 33,269 shares during the period. 80.93% of the stock is 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.