Netflix (NASDAQ:NFLX) Given New $600.00 Price Target at Sanford C. Bernstein

Netflix (NASDAQ:NFLX) had its price objective increased by Sanford C. Bernstein from $490.00 to $600.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “market perform” rating on the Internet television network’s stock. Sanford C. Bernstein’s target price suggests a potential downside of 1.73% from the company’s current price.

A number of other equities analysts have also issued reports on NFLX. Canaccord Genuity Group restated a “hold” rating and issued a $585.00 target price (down previously from $720.00) on shares of Netflix in a research note on Friday. Pivotal Research lifted their price objective on shares of Netflix from $765.00 to $800.00 and gave the company a “buy” rating in a research note on Friday. Morgan Stanley raised their target price on shares of Netflix from $600.00 to $700.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Deutsche Bank Aktiengesellschaft raised their target price on Netflix from $525.00 to $550.00 and gave the stock a “hold” rating in a report on Monday. Finally, Robert W. Baird raised their price target on shares of Netflix from $500.00 to $600.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $628.76.

Netflix Trading Down 0.5 %

Shares of NASDAQ NFLX opened at $610.56 on Friday. The business has a fifty day moving average price of $605.77 and a 200 day moving average price of $511.86. Netflix has a 1-year low of $315.62 and a 1-year high of $639.00. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $264.23 billion, a P/E ratio of 50.84, a price-to-earnings-growth ratio of 1.65 and a beta of 1.22.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 16.04% and a return on equity of 24.76%. The firm had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. During the same quarter in the previous year, the firm earned $2.88 EPS. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. Equities research analysts expect that Netflix will post 17.05 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, insider David A. Hyman sold 47,574 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at $17,003,651.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider David A. Hyman sold 47,574 shares of the stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $17,003,651.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David A. Hyman sold 267 shares of Netflix stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total value of $148,454.67. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $17,575,476.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 268,335 shares of company stock worth $151,619,811. 2.45% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Netflix

A number of large investors have recently made changes to their positions in the stock. Indiana Trust & Investment Management CO boosted its stake in shares of Netflix by 112.0% during the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 28 shares in the last quarter. VitalStone Financial LLC boosted 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 worth $30,000 after purchasing an additional 56 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in Netflix in the fourth quarter valued at $32,000. Aspect Partners LLC purchased a new position in shares of Netflix in the fourth quarter valued at $32,000. Finally, Authentikos Wealth Advisory LLC purchased a new stake in shares of Netflix in the 3rd quarter worth about $25,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

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.