Netflix (NASDAQ:NFLX – Get Free Report) had its target price upped by investment analysts at KeyCorp from $760.00 to $785.00 in a research report issued to clients and investors on Friday, MarketBeat reports. The brokerage presently has an “overweight” rating on the Internet television network’s stock. KeyCorp’s price objective indicates a potential upside of 2.76% from the stock’s current price.
Other analysts also recently issued reports about the company. Citigroup increased their price objective on Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Wedbush increased their price objective on Netflix from $725.00 to $775.00 and gave the stock an “overweight” rating in a research note on Thursday. Oppenheimer increased their price objective on Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a report on Friday. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $750.00 price target on shares of Netflix in a report on Tuesday, October 8th. Finally, Rosenblatt Securities raised their price target on Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $747.70.
Read Our Latest Stock Analysis on NFLX
Netflix Stock Performance
Netflix (NASDAQ:NFLX – Get Free Report) last issued its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. The company had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business’s revenue was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.29 earnings per share. Equities analysts expect that Netflix will post 19.08 EPS for the current fiscal year.
Insider Transactions at Netflix
In other news, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Leslie J. Kilgore sold 383 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total transaction of $279,590.00. Following the sale, the director now owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 225,167 shares of company stock valued at $150,492,460 in the last ninety days. 1.76% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Netflix
Several hedge funds and other institutional investors have recently modified their holdings of the stock. GQG Partners LLC bought a new position in Netflix in the 1st quarter worth $1,450,476,000. Jennison Associates LLC raised its position in shares of Netflix by 17.0% during the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after buying an additional 929,193 shares in the last quarter. Global Assets Advisory LLC purchased a new stake in Netflix in the 1st quarter worth about $436,514,000. Jericho Capital Asset Management L.P. purchased a new stake in Netflix in the 1st quarter worth about $372,293,000. Finally, Swedbank AB purchased a new stake in Netflix in the 1st quarter worth about $216,538,000. 80.93% of the stock is currently owned by hedge funds and other 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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