Netflix (NASDAQ:NFLX) Given New $450.00 Price Target at Benchmark

Netflix (NASDAQ:NFLXFree Report) had its target price lifted by Benchmark from $440.00 to $450.00 in a research note released on Friday, Benzinga reports. They currently have a sell rating on the Internet television network’s stock.

A number of other analysts have also issued reports on the company. Canaccord Genuity Group lowered Netflix from a buy rating to a hold rating and dropped their target price for the stock from $720.00 to $585.00 in a research report on Friday, April 19th. Piper Sandler upped their target price on Netflix from $550.00 to $600.00 and gave the company a neutral rating in a research report on Friday, April 12th. Rosenblatt Securities upped their price target on shares of Netflix from $540.00 to $554.00 and gave the company a neutral rating in a report on Friday. TD Cowen raised their price objective on shares of Netflix from $600.00 to $725.00 and gave the stock a buy rating in a report on Monday, April 8th. Finally, JPMorgan Chase & Co. upped their target price 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. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $630.53.

Read Our Latest Report on Netflix

Netflix Stock Performance

Shares of NFLX stock opened at $640.82 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. The company has a market cap of $276.19 billion, a PE ratio of 44.47, a P/E/G ratio of 1.50 and a beta of 1.23. The company’s fifty day simple moving average is $604.92 and its 200-day simple moving average is $544.64. Netflix has a 52 week low of $344.73 and a 52 week high of $644.37.

Netflix (NASDAQ:NFLXGet Free Report) last posted its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. The business had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.88 earnings per share. As a group, equities research analysts anticipate that Netflix will post 18.3 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Spencer Adam Neumann sold 564 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $613.08, for a total transaction of $345,777.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Ann Mather sold 3,673 shares of Netflix stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $600.00, for a total transaction of $2,203,800.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Spencer Adam Neumann sold 564 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $613.08, for a total value of $345,777.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 78,039 shares of company stock worth $46,401,083. 1.76% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Authentikos Wealth Advisory LLC purchased a new position in Netflix in the third quarter valued at about $25,000. Spartan Planning & Wealth Management bought a new stake in shares of Netflix in the 3rd quarter valued at approximately $26,000. Valued Wealth Advisors LLC increased its holdings in Netflix by 80.0% in the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after buying an additional 20 shares during the last quarter. VitalStone Financial LLC raised its position in Netflix by 933.3% during the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after acquiring an additional 56 shares in the last quarter. Finally, Beaird Harris Wealth Management LLC lifted its stake in Netflix by 1,550.0% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 62 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Company Profile

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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.

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