Netflix (NASDAQ:NFLX) Given New $800.00 Price Target at Pivotal Research

Netflix (NASDAQ:NFLX) had its target price boosted by Pivotal Research from $765.00 to $800.00 in a research note issued to investors on Friday, MarketBeat reports. The firm currently has a buy rating on the Internet television network’s stock.

Several other research analysts have also recently issued reports on the stock. Rosenblatt Securities decreased their price objective on shares of Netflix from $554.00 to $540.00 and set a neutral rating for the company in a report on Friday. Canaccord Genuity Group reiterated a hold rating and issued a $585.00 price objective (down from $720.00) on shares of Netflix in a report on Friday. Needham & Company LLC upgraded shares of Netflix from a hold rating to a buy rating and set a $700.00 price objective for the company in a report on Friday. Wedbush increased their price objective on shares of Netflix from $615.00 to $725.00 and gave the company an outperform rating in a report on Wednesday, March 27th. Finally, Wells Fargo & Company increased their target price on shares of Netflix from $650.00 to $726.00 and gave the company an overweight rating in a research note on Friday. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $630.58.

Netflix Price Performance

NASDAQ NFLX opened at $555.04 on Friday. Netflix has a 52 week low of $315.62 and a 52 week high of $639.00. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.69. The stock has a market cap of $240.20 billion, a price-to-earnings ratio of 38.52, a price-to-earnings-growth ratio of 1.64 and a beta of 1.22. The company has a 50-day moving average price of $605.65 and a two-hundred day moving average price of $513.07.

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

Insider Transactions at Netflix

In other news, insider David A. Hyman sold 47,574 shares of the stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $17,003,651.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Jay C. Hoag sold 47,000 shares of the firm’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $550.50, for a total value of $25,873,500.00. Following the transaction, the director now directly owns 431,034 shares in the company, valued at approximately $237,284,217. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David A. Hyman sold 47,574 shares of the firm’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at $17,003,651.20. The disclosure for this sale can be found here. Insiders have sold a total of 268,335 shares of company stock worth $151,619,811 in the last 90 days. 2.45% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Netflix by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 36,438,570 shares of the Internet television network’s stock valued at $17,741,211,000 after buying an additional 178,286 shares during the last quarter. State Street Corp grew its stake in Netflix by 0.4% in the 1st quarter. State Street Corp now owns 16,195,490 shares of the Internet television network’s stock valued at $5,595,196,000 after buying an additional 62,507 shares during the last quarter. Capital World Investors grew its stake in Netflix by 0.7% in the 4th quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock valued at $5,718,265,000 after buying an additional 78,320 shares during the last quarter. Morgan Stanley boosted its holdings in Netflix by 11.1% in the 4th quarter. Morgan Stanley now owns 6,463,661 shares of the Internet television network’s stock valued at $1,906,005,000 after purchasing an additional 644,162 shares during the period. Finally, Jennison Associates LLC boosted its holdings in Netflix by 40.6% in the 4th quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after purchasing an additional 1,573,978 shares during the period. 80.93% of the stock is currently 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.