Netflix (NASDAQ:NFLX) PT Raised to $650.00 at Deutsche Bank Aktiengesellschaft

Netflix (NASDAQ:NFLX) had its price target hoisted by Deutsche Bank Aktiengesellschaft from $590.00 to $650.00 in a report issued on Wednesday, Benzinga reports. They currently have a hold rating on the Internet television network’s stock.

Other equities research analysts have also issued reports about the company. Pivotal Research upped their price target on Netflix from $800.00 to $900.00 and gave the stock a buy rating in a research note on Friday, August 30th. Evercore ISI raised their target price on shares of Netflix from $710.00 to $750.00 and gave the company an outperform rating in a research note on Tuesday, August 27th. Sanford C. Bernstein raised their price objective on Netflix from $600.00 to $625.00 and gave the company a market perform rating in a research report on Friday, July 19th. Morgan Stanley upped their price target on Netflix from $700.00 to $780.00 and gave the stock an overweight rating in a report on Monday, July 15th. Finally, Rosenblatt Securities reiterated a neutral rating and set a $635.00 price objective on shares of Netflix in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $702.79.

Netflix Price Performance

NFLX opened at $722.79 on Wednesday. Netflix has a 1 year low of $344.73 and a 1 year high of $736.00. The company’s 50 day simple moving average is $686.60 and its 200 day simple moving average is $651.33. The stock has a market capitalization of $311.52 billion, a PE ratio of 50.16, a P/E/G ratio of 1.49 and a beta of 1.26. 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 (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The company had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. Netflix’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter last year, the business earned $3.29 EPS. As a group, sell-side analysts expect that Netflix will post 19.08 EPS for the current year.

Insider Buying and Selling

In other Netflix news, Chairman Reed Hastings sold 45,290 shares of the business’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 completion of the transaction, the chairman now directly owns 85 shares of the company’s stock, valued at $60,023.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Netflix news, Director Jay C. Hoag sold 43,750 shares of Netflix stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $687.07, for a total transaction of $30,059,312.50. Following the sale, the director now owns 95,040 shares of the company’s stock, valued at $65,299,132.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Reed Hastings sold 45,290 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total value of $31,981,986.40. Following the transaction, the chairman now owns 85 shares of the company’s stock, valued at $60,023.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 225,167 shares of company stock valued at $150,492,460 in the last quarter. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP raised its position in shares of Netflix by 540.9% during the 4th quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after buying an additional 3,273,592 shares in the last quarter. GQG Partners LLC acquired a new position in shares of Netflix during the first quarter valued at approximately $1,450,476,000. Jennison Associates LLC raised its holdings in Netflix by 17.0% during the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after purchasing an additional 929,193 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in Netflix in the first quarter worth approximately $436,514,000. Finally, Jericho Capital Asset Management L.P. bought a new position in Netflix during the 1st quarter valued at $372,293,000. 80.93% of the stock is currently owned by 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.