Netflix (NASDAQ:NFLX) Price Target Raised to $1,222.00

Netflix (NASDAQ:NFLX - Get Free Report) had its price objective hoisted by equities research analysts at Wells Fargo & Company from $1,210.00 to $1,222.00 in a report released on Monday. The brokerage presently has an "overweight" rating on the Internet television network's stock. Wells Fargo & Company's price target would suggest a potential upside of 25.59% from the stock's current price.

Other research analysts have also issued reports about the company. Morgan Stanley raised their target price on Netflix from $1,150.00 to $1,200.00 and gave the stock an "overweight" rating in a research report on Monday. StockNews.com downgraded Netflix from a "buy" rating to a "hold" rating in a research report on Tuesday, February 4th. Arete Research raised Netflix to a "hold" rating in a research note on Thursday, January 23rd. Guggenheim reissued a "buy" rating and set a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a research report on Friday. Finally, Moffett Nathanson restated a "buy" rating and set a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a report on Friday. Nine investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,066.24.

Netflix Price Performance

Shares of NFLX opened at $973.03 on Monday. The business has a 50-day simple moving average of $954.87 and a two-hundred day simple moving average of $894.38. Netflix has a 12-month low of $542.01 and a 12-month high of $1,064.50. The stock has a market cap of $416.22 billion, a PE ratio of 49.07, a PEG ratio of 2.12 and a beta of 1.55. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping the consensus estimate of $5.74 by $0.87. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. During the same period last year, the company earned $8.28 EPS. Analysts anticipate that Netflix will post 24.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Netflix news, insider David A. Hyman sold 41,121 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $979.01, for a total value of $40,257,870.21. Following the sale, the insider now directly owns 31,610 shares in the company, valued at $30,946,506.10. This represents a 56.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Reed Hastings sold 25,360 shares of Netflix stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total value of $23,360,364.00. Following the sale, the chairman now owns 394 shares of the company's stock, valued at approximately $362,933.10. This trade represents a 98.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 274,312 shares of company stock worth $267,919,297 over the last quarter. 1.76% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Netflix

Several institutional investors have recently modified their holdings of NFLX. Halbert Hargrove Global Advisors LLC grew its holdings in shares of Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after purchasing an additional 13 shares during the last quarter. Pathway Financial Advisers LLC boosted its position in Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock valued at $27,000 after buying an additional 14 shares during the period. Brown Shipley& Co Ltd bought a new position in shares of Netflix during the fourth quarter valued at about $27,000. Transce3nd LLC purchased a new position in shares of Netflix in the fourth quarter worth about $32,000. Finally, Newton One Investments LLC bought a new stake in shares of Netflix in the 4th quarter valued at about $34,000. 80.93% of the stock is currently owned by 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.

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