Canaccord Genuity Group Raises Netflix (NASDAQ:NFLX) Price Target to $760.00

Netflix (NASDAQ:NFLX) had its price objective hoisted by Canaccord Genuity Group from $750.00 to $760.00 in a report released on Friday morning, Marketbeat Ratings reports. The brokerage currently has a hold rating on the Internet television network’s stock.

Several other equities research analysts also recently weighed in on NFLX. Deutsche Bank Aktiengesellschaft increased their price target on Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Macquarie reiterated an “outperform” rating and issued a $795.00 price objective on shares of Netflix in a research report on Friday. Needham & Company LLC upped their price target on shares of Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday. The Goldman Sachs Group boosted their price objective on shares of Netflix from $650.00 to $659.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, Netflix has an average rating of “Moderate Buy” and an average price target of $747.70.

Netflix Stock Performance

Shares of Netflix stock opened at $772.07 on Friday. The stock has a market capitalization of $332.76 billion, a price-to-earnings ratio of 53.58, a PEG ratio of 1.49 and a beta of 1.26. The firm’s fifty day simple moving average is $699.16 and its 200-day simple moving average is $656.21. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. Netflix has a 12 month low of $395.62 and a 12 month high of $773.00.

Insider Buying and Selling at Netflix

In other news, CFO Spencer Adam Neumann sold 433 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Netflix news, Director Leslie J. Kilgore sold 358 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $765.00, for a total transaction of $273,870.00. Following the completion of the sale, the director now directly owns 35,262 shares in the company, valued at $26,975,430. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Spencer Adam Neumann sold 433 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total transaction of $271,140.27. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 229,711 shares of company stock valued at $153,905,830. Company insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NFLX. Heartland Bank & Trust Co grew its stake in shares of Netflix by 0.9% in the second quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock valued at $1,195,000 after buying an additional 15 shares in the last quarter. Cedrus LLC boosted its holdings in Netflix by 0.8% in the 3rd quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock worth $1,263,000 after acquiring an additional 15 shares during the period. Meritas Wealth Management LLC grew its position in Netflix by 2.9% in the third quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock valued at $406,000 after acquiring an additional 16 shares in the last quarter. Stage Harbor Financial LLC raised its stake in shares of Netflix by 4.8% during the third quarter. Stage Harbor Financial LLC now owns 346 shares of the Internet television network’s stock valued at $250,000 after purchasing an additional 16 shares during the period. Finally, Compass Ion Advisors LLC lifted its position in shares of Netflix by 4.5% during the third quarter. Compass Ion Advisors LLC now owns 369 shares of the Internet television network’s stock worth $262,000 after purchasing an additional 16 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Company Profile

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.