Netflix (NASDAQ:NFLX) PT Raised to $726.00 at Wells Fargo & Company

Netflix (NASDAQ:NFLX) had its price target lifted by equities researchers at Wells Fargo & Company from $650.00 to $726.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the Internet television network’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 30.80% from the stock’s previous close.

A number of other brokerages also recently commented on NFLX. Benchmark reaffirmed a “sell” rating and set a $440.00 target price on shares of Netflix in a research note on Thursday. Canaccord Genuity Group lifted their target price on shares of Netflix from $575.00 to $625.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Piper Sandler lifted their target price on shares of Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. boosted their price target on shares of Netflix from $610.00 to $650.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, StockNews.com raised shares of Netflix from a “hold” rating to a “buy” rating in a research note on Monday, February 26th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $630.58.

Netflix Stock Performance

NASDAQ:NFLX opened at $555.04 on Friday. The company’s 50-day moving average price is $605.65 and its 200-day moving average price is $514.02. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.69. The company has a market cap of $240.20 billion, a P/E ratio of 38.52, a P/E/G ratio of 1.64 and a beta of 1.22. Netflix has a twelve month low of $315.62 and a twelve month high of $639.00.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.46%. The firm had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. During the same period last year, the firm posted $2.88 earnings per share. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, sell-side analysts forecast that Netflix will post 17.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Netflix news, CEO Gregory K. Peters sold 13,655 shares of the company’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $543.80, for a total transaction of $7,425,589.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares in the company, valued at approximately $7,118,342. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Netflix news, CEO Gregory K. Peters sold 13,655 shares of the company’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $543.80, for a total transaction of $7,425,589.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares in the company, valued at approximately $7,118,342. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gregory K. Peters sold 5,352 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $625.00, for a total transaction of $3,345,000.00. Following the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,181,250. The disclosure for this sale can be found here. In the last quarter, insiders sold 268,335 shares of company stock worth $151,619,811. 2.45% of the stock is owned by insiders.

Institutional Investors Weigh In On Netflix

Large investors have recently added to or reduced their stakes in the business. Columbia Trust Co 01012016 grew its stake in Netflix by 15.3% in the 4th quarter. Columbia Trust Co 01012016 now owns 1,566 shares of the Internet television network’s stock valued at $762,000 after acquiring an additional 208 shares during the last quarter. Crumly & Associates Inc. boosted its stake in shares of Netflix by 4.1% during the 4th quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network’s stock worth $1,025,000 after purchasing an additional 83 shares during the last quarter. Venture Visionary Partners LLC boosted its stake in shares of Netflix by 15.4% during the 4th quarter. Venture Visionary Partners LLC now owns 9,849 shares of the Internet television network’s stock worth $4,795,000 after purchasing an additional 1,318 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Netflix by 142.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 667,597 shares of the Internet television network’s stock worth $252,085,000 after purchasing an additional 392,427 shares during the last quarter. Finally, Sandy Cove Advisors LLC boosted its stake in shares of Netflix by 10.6% during the 4th quarter. Sandy Cove Advisors LLC now owns 1,187 shares of the Internet television network’s stock worth $578,000 after purchasing an additional 114 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

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.