A number of other research firms have also weighed in on NFLX. Barclays upped their price objective on shares of Netflix from $250.00 to $375.00 in a research note on Wednesday, June 14th. Morgan Stanley reissued an equal weight rating and set a $450.00 price target on shares of Netflix in a research report on Thursday, July 20th. Piper Sandler increased their price target on shares of Netflix from $350.00 to $440.00 in a research report on Thursday, July 20th. Wedbush upped their price objective on shares of Netflix from $475.00 to $525.00 and gave the company an outperform rating in a report on Thursday, July 20th. Finally, KeyCorp restated a sector weight rating on shares of Netflix in a report on Thursday, July 20th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Netflix currently has a consensus rating of Moderate Buy and an average price target of $432.91.
Netflix Trading Up 2.9 %
Netflix (NASDAQ:NFLX – Get Free Report) last posted its quarterly earnings data on Wednesday, July 19th. The Internet television network reported $3.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.44. Netflix had a net margin of 13.22% and a return on equity of 19.76%. The business had revenue of $8.19 billion for the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter in the previous year, the business posted $3.20 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. Sell-side analysts expect that Netflix will post 11.95 earnings per share for the current fiscal year.
Insider Buying and Selling at Netflix
In other Netflix news, Director Timothy M. Haley sold 903 shares of Netflix stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $425.00, for a total value of $383,775.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Timothy M. Haley sold 903 shares of Netflix stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $425.00, for a total transaction of $383,775.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jay C. Hoag sold 943 shares of Netflix stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $450.00, for a total value of $424,350.00. Following the transaction, the director now owns 421,491 shares of the company’s stock, valued at approximately $189,670,950. The disclosure for this sale can be found here. Insiders have sold 133,823 shares of company stock valued at $57,251,938 in the last 90 days. 2.45% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Baldrige Asset Management LLC raised its position in Netflix by 156.3% during the first quarter. Baldrige Asset Management LLC now owns 82 shares of the Internet television network’s stock valued at $28,000 after purchasing an additional 50 shares in the last quarter. Tanglewood Legacy Advisors LLC bought a new stake in shares of Netflix during the fourth quarter worth $29,000. Barrett & Company Inc. bought a new stake in shares of Netflix during the first quarter worth $29,000. Manchester Capital Management LLC grew its stake in shares of Netflix by 8,700.0% during the first quarter. Manchester Capital Management LLC now owns 88 shares of the Internet television network’s stock worth $30,000 after buying an additional 87 shares during the last quarter. Finally, Retirement Group LLC grew its stake in shares of Netflix by 52.6% during the first quarter. Retirement Group LLC now owns 87 shares of the Internet television network’s stock worth $30,000 after buying an additional 30 shares during the last quarter. 79.95% of the stock is currently owned by institutional investors and hedge funds.
Netflix Company Profile
Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.
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