Netflix, Inc. (NASDAQ:NFLX) had its price target increased by Royal Bank Of Canada from $175.00 to $210.00 in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage currently has an outperform rating on the Internet television network’s stock.
Several other research analysts have also commented on NFLX. UBS AG reissued a buy rating and issued a $175.00 price target on shares of Netflix in a research report on Wednesday, April 19th. Instinet reissued a buy rating and issued a $175.00 price target (up from $165.00) on shares of Netflix in a research report on Monday. Sanford C. Bernstein set a $203.00 price target on Netflix and gave the stock a buy rating in a research report on Monday. MKM Partners reissued a buy rating and issued a $195.00 price target on shares of Netflix in a research report on Monday, July 10th. Finally, Cantor Fitzgerald reissued an overweight rating and issued a $190.00 price target on shares of Netflix in a research report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-nine have given a buy rating to the company’s stock. Netflix currently has an average rating of Buy and an average price target of $169.38.
Shares of Netflix (NFLX) traded up 1.99% during midday trading on Tuesday, reaching $187.25. The company had a trading volume of 7,159,139 shares. The firm’s 50 day moving average price is $158.04 and its 200-day moving average price is $148.40. The stock has a market capitalization of $80.78 billion, a price-to-earnings ratio of 227.80 and a beta of 0.98. Netflix has a 1-year low of $85.01 and a 1-year high of $187.63.
Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Monday, July 17th. The Internet television network reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.01. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.76 billion. Netflix had a return on equity of 12.82% and a net margin of 3.55%. The company’s revenue was up 32.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.09 earnings per share. Equities research analysts expect that Netflix will post $1.16 EPS for the current fiscal year.
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In other news, CEO Reed Hastings sold 101,815 shares of the business’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $157.13, for a total value of $15,998,190.95. Following the completion of the transaction, the chief executive officer now owns 101,815 shares of the company’s stock, valued at approximately $15,998,190.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel David A. Hyman sold 14,021 shares of the business’s stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $150.00, for a total value of $2,103,150.00. Following the completion of the transaction, the general counsel now directly owns 41,629 shares of the company’s stock, valued at approximately $6,244,350. The disclosure for this sale can be found here. In the last three months, insiders sold 343,728 shares of company stock valued at $53,858,193. Insiders own 4.90% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Guardian Life Insurance Co. of America boosted its position in shares of Netflix by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,655 shares of the Internet television network’s stock valued at $245,000 after buying an additional 11 shares during the period. Teachers Advisors LLC boosted its position in shares of Netflix by 2.0% in the first quarter. Teachers Advisors LLC now owns 1,300,531 shares of the Internet television network’s stock valued at $192,231,000 after buying an additional 25,266 shares during the period. Banco Santander S.A. bought a new position in shares of Netflix during the first quarter valued at about $43,264,000. Bronfman E.L. Rothschild L.P. boosted its position in shares of Netflix by 0.8% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,134 shares of the Internet television network’s stock valued at $168,000 after buying an additional 9 shares during the period. Finally, Twin Capital Management Inc. boosted its position in shares of Netflix by 0.8% in the first quarter. Twin Capital Management Inc. now owns 16,900 shares of the Internet television network’s stock valued at $2,498,000 after buying an additional 130 shares during the period. 82.77% of the stock is owned by institutional investors and hedge funds.
About Netflix
Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.
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