Netflix (NASDAQ:NFLX) Given New $810.00 Price Target at Guggenheim

Netflix (NASDAQ:NFLX) had its target price increased by equities researchers at Guggenheim from $735.00 to $810.00 in a research note issued on Friday, Briefing.com reports. The firm currently has a “buy” rating on the Internet television network’s stock. Guggenheim’s target price points to a potential upside of 10.20% from the company’s current price.

A number of other brokerages also recently issued reports on NFLX. Deutsche Bank Aktiengesellschaft raised their price objective on Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research report on Wednesday. UBS Group raised their target price on Netflix from $685.00 to $750.00 and gave the company a “buy” rating in a report on Friday, July 19th. Barclays reiterated an “underweight” rating and set a $550.00 price target on shares of Netflix in a report on Monday. Oppenheimer lifted their price target on Netflix from $725.00 to $775.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Loop Capital boosted their target price on Netflix from $700.00 to $750.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and an average target price of $699.56.

Netflix Trading Up 0.7 %

NFLX traded up $4.77 during midday trading on Friday, reaching $735.06. 266,287 shares of the company were exchanged, compared to its average volume of 3,639,469. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. Netflix has a one year low of $344.73 and a one year high of $736.00. The stock has a market capitalization of $315.47 billion, a P/E ratio of 45.96, a PEG ratio of 1.49 and a beta of 1.26. The stock’s 50-day simple moving average is $684.42 and its 200 day simple moving average is $650.52.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The company had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. During the same quarter last year, the firm posted $3.29 earnings per share. Netflix’s revenue was up 16.8% compared to the same quarter last year. As a group, analysts forecast that Netflix will post 19.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the transaction, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Netflix news, Chairman Reed Hastings sold 45,290 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the completion of the transaction, the chairman now owns 85 shares of the company’s stock, valued at $60,023.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David A. Hyman sold 20,656 shares of the 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 sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 224,784 shares of company stock valued at $150,212,870. 1.76% of the stock is owned by company insiders.

Institutional Investors Weigh In On Netflix

A number of hedge funds and other institutional investors have recently modified their holdings of NFLX. Denver PWM LLC bought a new stake in Netflix in the second quarter valued at approximately $25,000. Valued Wealth Advisors LLC grew its stake in shares of Netflix by 80.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 20 shares during the period. Proffitt & Goodson Inc. boosted its stake in Netflix by 380.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 38 shares during the period. AlphaMark Advisors LLC boosted its stake in Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after purchasing an additional 45 shares during the period. Finally, Indiana Trust & Investment Management CO raised its holdings in shares of Netflix by 112.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 28 shares in the last quarter. 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.