Wells Fargo & Company Raises Netflix (NASDAQ:NFLX) Price Target to $1,222.00

Netflix (NASDAQ:NFLX) had its price target increased by investment analysts at Wells Fargo & Company from $1,210.00 to $1,222.00 in a research report issued on Monday, Marketbeat Ratings reports. The brokerage currently has an “overweight” rating on the Internet television network’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 17.46% from the stock’s previous close.

Several other equities research analysts also recently issued reports on NFLX. Bank of America raised their price objective on shares of Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. The Goldman Sachs Group raised their price target on shares of Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Robert W. Baird boosted their price objective on shares of Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Piper Sandler started coverage on shares of Netflix in a research note on Thursday, April 17th. They issued an “overweight” rating and a $1,100.00 target price for the company. Finally, Barclays boosted their price target on Netflix from $900.00 to $1,000.00 and gave the company an “equal weight” rating in a research note on Monday. Nine research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,070.65.

Netflix Stock Up 5.3 %

Netflix stock opened at $1,040.34 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. Netflix has a fifty-two week low of $544.25 and a fifty-two week high of $1,064.97. The firm has a fifty day moving average price of $954.01 and a two-hundred day moving average price of $897.26. The firm has a market cap of $445.01 billion, a price-to-earnings ratio of 52.46, a P/E/G ratio of 2.12 and a beta of 1.55.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping the consensus estimate of $5.74 by $0.87. The business had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same quarter in the previous year, the firm earned $8.28 EPS. As a group, analysts forecast that Netflix will post 24.58 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other news, CEO Gregory K. Peters sold 4,939 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the completion of the sale, the chief executive officer now directly owns 12,950 shares of the company’s stock, valued at $13,338,500. This represents a 27.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Jeffrey William Karbowski sold 480 shares of Netflix stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $986.75, for a total transaction of $473,640.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 274,472 shares of company stock valued at $268,079,297. 1.76% of the stock is currently owned by company insiders.

Institutional Trading of Netflix

Large investors have recently made changes to their positions in the company. Halbert Hargrove Global Advisors LLC grew its stake in Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock valued at $25,000 after acquiring an additional 13 shares during the period. Pathway Financial Advisers LLC lifted its holdings in shares of Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after purchasing an additional 14 shares in the last quarter. Brown Shipley& Co Ltd bought a new position in shares of Netflix during the 4th quarter valued at about $27,000. Transce3nd LLC acquired a new position in shares of Netflix in the 4th quarter valued at approximately $32,000. Finally, Newton One Investments LLC bought a new stake in Netflix during the 4th quarter worth approximately $34,000. Institutional investors own 80.93% of the company’s stock.

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.