Netflix (NASDAQ:NFLX) Given New $1,200.00 Price Target at Canaccord Genuity Group

Netflix (NASDAQ:NFLX) had its price objective lifted by Canaccord Genuity Group from $1,150.00 to $1,200.00 in a research note released on Monday morning, Marketbeat reports. The brokerage currently has a buy rating on the Internet television network’s stock.

A number of other analysts have also issued reports on the company. Pivotal Research reaffirmed a “buy” rating and issued a $1,350.00 price target (up from $1,250.00) on shares of Netflix in a research note on Thursday. Moffett Nathanson reiterated a “buy” rating and issued a $1,150.00 price objective (up from $1,100.00) on shares of Netflix in a report on Friday. Benchmark upgraded shares of Netflix from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. 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 note on Friday. Finally, FBN Securities began coverage on shares of Netflix in a research report on Thursday, March 27th. They issued an “outperform” rating and a $1,165.00 price target for the company. Nine investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,070.65.

Netflix Stock Up 1.5 %

NASDAQ:NFLX opened at $987.91 on Monday. Netflix has a twelve month low of $542.01 and a twelve month high of $1,064.50. The company’s 50 day moving average is $954.08 and its two-hundred day moving average is $896.26. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market cap of $422.59 billion, a PE ratio of 49.82, a P/E/G ratio of 2.12 and a beta of 1.55.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. The business had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same quarter last year, the company earned $8.28 EPS. Analysts anticipate that Netflix will post 24.58 EPS for the current year.

Insider Buying and Selling

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $921.72, for a total value of $2,397,393.72. Following the transaction, the chief financial officer now owns 3,691 shares of the company’s stock, valued at approximately $3,402,068.52. This represents a 41.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gregory K. Peters sold 4,939 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the sale, the chief executive officer now directly owns 12,950 shares of the company’s stock, valued at approximately $13,338,500. This represents a 27.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 274,312 shares of company stock valued at $267,919,297 over the last three months. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

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

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.