Netflix (NASDAQ:NFLX) Given New $1,600.00 Price Target at Pivotal Research

Netflix (NASDAQ:NFLX) had its price target raised by Pivotal Research from $1,350.00 to $1,600.00 in a research report report published on Friday, Marketbeat Ratings reports. The firm currently has a buy rating on the Internet television network’s stock.

A number of other equities research analysts have also weighed in on the company. UBS Group boosted their price target on Netflix from $1,150.00 to $1,450.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Rosenblatt Securities upped their target price on Netflix from $1,494.00 to $1,514.00 and gave the company a “buy” rating in a research report on Monday, April 21st. Robert W. Baird raised their target price on shares of Netflix from $1,200.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $1,220.00 price objective (up previously from $1,150.00) on shares of Netflix in a report on Monday, May 19th. Finally, Cfra Research upgraded Netflix to a “strong-buy” rating in a research report on Monday, April 28th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,172.73.

Netflix Stock Performance

Shares of NASDAQ:NFLX opened at $1,231.49 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $524.09 billion, a price-to-earnings ratio of 58.20, a price-to-earnings-growth ratio of 2.36 and a beta of 1.59. The firm has a 50 day moving average of $1,150.80 and a 200 day moving average of $1,010.84. Netflix has a 52 week low of $587.04 and a 52 week high of $1,262.81.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. The firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a net margin of 23.07% and a return on equity of 39.61%. During the same quarter in the previous year, the firm earned $8.28 EPS. On average, sell-side analysts predict that Netflix will post 24.58 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In related news, Director Ann Mather sold 1,090 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $1,250.00, for a total value of $1,362,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jeffrey William Karbowski sold 480 shares of the company’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $978.18, for a total value of $469,526.40. The disclosure for this sale can be found here. Insiders have sold a total of 185,140 shares of company stock worth $210,271,552 in the last quarter. Company insiders own 1.37% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several large investors have recently made changes to their positions in the stock. Halbert Hargrove Global Advisors LLC lifted its stake in Netflix by 100.0% during the 1st 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. Brown Shipley& Co Ltd acquired a new position in shares of Netflix during the fourth quarter worth about $27,000. Transce3nd LLC acquired a new stake in Netflix in the fourth quarter valued at approximately $32,000. Copia Wealth Management purchased a new stake in shares of Netflix in the 4th quarter valued at approximately $37,000. Finally, Flaharty Asset Management LLC acquired a new position in shares of Netflix during the first quarter worth $37,000. 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.