Netflix (NASDAQ:NFLX) has been assigned a $388.00 price objective by stock analysts at Macquarie in a report released on Wednesday. The brokerage presently has a “buy” rating on the Internet television network’s stock. Macquarie’s target price suggests a potential upside of 3.03% from the company’s previous close.
NFLX has been the subject of a number of other research reports. Societe Generale restated a “sell” rating and issued a $180.00 price target on shares of Netflix in a research note on Friday, July 6th. Oppenheimer reaffirmed a “buy” rating and issued a $370.00 price objective on shares of Netflix in a report on Thursday, June 14th. SunTrust Banks lifted their price objective on shares of Netflix from $270.00 to $415.00 and gave the stock a “hold” rating in a report on Friday, July 13th. Stifel Nicolaus raised shares of Netflix from a “hold” rating to a “buy” rating and set a $406.00 price objective for the company in a report on Tuesday, July 17th. Finally, Monness Crespi & Hardt lifted their price objective on shares of Netflix from $375.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday, June 19th. Five analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirty-two have given a buy rating to the stock. Netflix has an average rating of “Buy” and an average price target of $355.69.
Shares of NASDAQ:NFLX traded up $7.17 during midday trading on Wednesday, reaching $376.60. The company had a trading volume of 111,508 shares, compared to its average volume of 8,602,865. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.86. The firm has a market cap of $160.95 billion, a PE ratio of 299.44, a price-to-earnings-growth ratio of 4.62 and a beta of 0.90. Netflix has a one year low of $176.55 and a one year high of $423.21.
In related news, CEO Reed Hastings sold 75,656 shares of the company’s stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $359.64, for a total value of $27,208,923.84. Following the completion of the sale, the chief executive officer now owns 75,656 shares of the company’s stock, valued at $27,208,923.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Theodore A. Sarandos sold 111,391 shares of the company’s stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $360.00, for a total transaction of $40,100,760.00. Following the completion of the sale, the insider now directly owns 16,065 shares of the company’s stock, valued at approximately $5,783,400. The disclosure for this sale can be found here. Insiders sold 319,195 shares of company stock valued at $112,492,438 in the last ninety days. Corporate insiders own 4.29% of the company’s stock.
A number of hedge funds have recently bought and sold shares of NFLX. Financial Gravity Wealth Inc. bought a new stake in Netflix in the first quarter worth about $326,000. Gamco Investors INC. ET AL raised its position in Netflix by 5.5% in the first quarter. Gamco Investors INC. ET AL now owns 3,439 shares of the Internet television network’s stock worth $1,016,000 after acquiring an additional 179 shares in the last quarter. Brinker Capital Inc. raised its position in Netflix by 20.2% in the first quarter. Brinker Capital Inc. now owns 4,071 shares of the Internet television network’s stock worth $1,202,000 after acquiring an additional 685 shares in the last quarter. Franklin Resources Inc. raised its position in Netflix by 122.2% in the first quarter. Franklin Resources Inc. now owns 496,999 shares of the Internet television network’s stock worth $146,791,000 after acquiring an additional 273,290 shares in the last quarter. Finally, Evergreen Capital Management LLC bought a new stake in Netflix in the first quarter worth about $219,000. 73.72% of the stock is owned by institutional investors and hedge funds.
Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.
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