Loop Capital Increases Netflix (NASDAQ:NFLX) Price Target to $800.00

Netflix (NASDAQ:NFLX) had its price target increased by Loop Capital from $750.00 to $800.00 in a research note issued to investors on Wednesday, Marketbeat Ratings reports. They currently have a buy rating on the Internet television network’s stock.

A number of other research firms also recently weighed in on NFLX. Oppenheimer upped their target price on shares of Netflix from $725.00 to $775.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Sanford C. Bernstein raised their target price on shares of Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a research note on Friday, July 19th. Needham & Company LLC reissued a “buy” rating and issued a $700.00 price target on shares of Netflix in a research report on Friday, July 19th. Morgan Stanley raised their price objective on Netflix from $780.00 to $820.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, The Goldman Sachs Group boosted their target price on Netflix from $650.00 to $659.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $704.26.

Netflix Price Performance

Shares of Netflix stock opened at $702.00 on Wednesday. The firm has a market cap of $302.56 billion, a PE ratio of 48.72, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. The company’s fifty day simple moving average is $692.63 and its two-hundred day simple moving average is $653.38. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix has a 12-month low of $344.73 and a 12-month high of $736.00.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $9.53 billion. During the same quarter in the prior year, the company earned $3.29 earnings per share. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. As a group, equities analysts expect that Netflix will post 19.08 EPS for the current year.

Insider Buying and Selling

In other Netflix news, Director Leslie J. Kilgore sold 383 shares of Netflix stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $730.00, for a total value of $279,590.00. Following the sale, the director now owns 35,262 shares of the company’s stock, valued at $25,741,260. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Netflix news, Director Leslie J. Kilgore sold 383 shares of Netflix stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the transaction, the director now directly owns 35,262 shares of the company’s stock, valued at $25,741,260. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Reed Hastings sold 45,290 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the sale, the chairman now owns 85 shares in the company, valued at $60,023.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 225,167 shares of company stock worth $150,492,460. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DigitalBridge Group Inc. lifted its position in shares of Netflix by 35.5% during the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after purchasing an additional 9,451 shares during the last quarter. M&G Plc bought a new stake in shares of Netflix during the first quarter valued at approximately $9,682,000. BSN CAPITAL PARTNERS Ltd increased its holdings in Netflix by 24.4% during the 1st quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock worth $155,185,000 after purchasing an additional 49,000 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Netflix by 58.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock worth $55,968,000 after buying an additional 30,511 shares during the period. Finally, First Trust Direct Indexing L.P. lifted its holdings in shares of Netflix by 14.9% in the 1st quarter. First Trust Direct Indexing L.P. now owns 10,330 shares of the Internet television network’s stock worth $6,274,000 after buying an additional 1,342 shares during the period. 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.