Rosenblatt Securities Boosts Netflix (NASDAQ:NFLX) Price Target to $1,515.00

Netflix (NASDAQ:NFLX) had its target price lifted by equities research analysts at Rosenblatt Securities from $1,514.00 to $1,515.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the Internet television network’s stock. Rosenblatt Securities’ target price would suggest a potential upside of 25.29% from the company’s current price.

NFLX has been the subject of several other research reports. FBN Securities assumed coverage on shares of Netflix in a report on Thursday, March 27th. They issued an “outperform” rating and a $1,165.00 price objective for the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $1,425.00 price objective (up previously from $1,200.00) on shares of Netflix in a report on Tuesday, July 15th. Cfra Research raised shares of Netflix to a “strong-buy” rating in a report on Monday, April 28th. Evercore ISI reiterated an “outperform” rating on shares of Netflix in a research report on Thursday, May 15th. Finally, Loop Capital reiterated a “hold” rating on shares of Netflix in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,291.41.

Netflix Stock Performance

Netflix stock opened at $1,209.24 on Friday. The company has a market cap of $514.62 billion, a PE ratio of 51.52, a P/E/G ratio of 2.19 and a beta of 1.59. The company has a fifty day moving average price of $1,232.59 and a two-hundred day moving average price of $1,061.94. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. Netflix has a 12 month low of $587.04 and a 12 month high of $1,341.15.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 43.00%. The company had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter in the previous year, the company posted $4.88 earnings per share. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. Research analysts expect that Netflix will post 24.58 earnings per share for the current year.

Insider Buying and Selling

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $1,132.38, for a total transaction of $2,945,320.38. Following the completion of the transaction, the chief financial officer directly owned 3,691 shares in the company, valued at $4,179,614.58. This represents a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Reed Hastings sold 26,977 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $1,133.05, for a total value of $30,566,289.85. Following the transaction, the director owned 394 shares of the company’s stock, valued at $446,421.70. This represents a 98.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 186,723 shares of company stock valued at $223,307,201. 1.37% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Netflix by 1.4% in the first quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network’s stock worth $35,433,585,000 after purchasing an additional 509,255 shares during the period. FMR LLC increased its position in Netflix by 1.8% in the fourth quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock worth $18,617,081,000 after purchasing an additional 375,234 shares during the period. Price T Rowe Associates Inc. MD increased its position in Netflix by 2.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,732,066 shares of the Internet television network’s stock worth $10,940,505,000 after purchasing an additional 304,399 shares during the period. Geode Capital Management LLC increased its position in Netflix by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock worth $8,287,823,000 after purchasing an additional 175,596 shares during the period. Finally, GAMMA Investing LLC increased its position in Netflix by 109,524.3% in the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock worth $8,239,576,000 after purchasing an additional 8,827,662 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

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.