Netflix (NASDAQ:NFLX) PT Raised to $600.00 at Sanford C. Bernstein

Netflix (NASDAQ:NFLX) had its price target hoisted by research analysts at Sanford C. Bernstein from $490.00 to $600.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “market perform” rating on the Internet television network’s stock. Sanford C. Bernstein’s price objective would indicate a potential upside of 8.10% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Benchmark reissued a “sell” rating and issued a $440.00 price objective on shares of Netflix in a report on Thursday. Canaccord Genuity Group reaffirmed a “hold” rating and set a $585.00 price target (down previously from $720.00) on shares of Netflix in a report on Friday. Evercore ISI upped their price target on shares of Netflix from $600.00 to $640.00 and gave the stock an “outperform” rating in a report on Thursday, March 14th. Rosenblatt Securities cut their price target on shares of Netflix from $554.00 to $540.00 and set a “neutral” rating for the company in a report on Friday. Finally, Oppenheimer upped their price target on shares of Netflix from $615.00 to $725.00 and gave the stock an “outperform” rating in a report on Monday, March 11th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and a consensus price target of $630.58.

Netflix Stock Performance

NASDAQ NFLX opened at $555.04 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $240.20 billion, a P/E ratio of 38.52, a P/E/G ratio of 1.64 and a beta of 1.22. Netflix has a 12-month low of $315.62 and a 12-month high of $639.00. The firm has a 50-day moving average price of $605.65 and a two-hundred day moving average price of $514.02.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data 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 firm had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.46%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.88 EPS. Analysts anticipate that Netflix will post 17.08 earnings per share for the current year.

Insider Transactions at Netflix

In other news, CEO Theodore A. Sarandos sold 68,957 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the completion of the sale, the chief executive officer now directly owns 1,278 shares in the company, valued at $717,379.74. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider David A. Hyman sold 267 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total transaction of $148,454.67. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $17,575,476.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Theodore A. Sarandos sold 68,957 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the transaction, the chief executive officer now directly owns 1,278 shares in the company, valued at $717,379.74. The disclosure for this sale can be found here. Insiders sold a total of 268,335 shares of company stock worth $151,619,811 over the last three months. 2.45% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Columbia Trust Co 01012016 boosted its stake in Netflix by 15.3% during the fourth quarter. Columbia Trust Co 01012016 now owns 1,566 shares of the Internet television network’s stock worth $762,000 after acquiring an additional 208 shares in the last quarter. Crumly & Associates Inc. lifted its stake in shares of Netflix by 4.1% in the fourth quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network’s stock valued at $1,025,000 after buying an additional 83 shares in the last quarter. Venture Visionary Partners LLC lifted its stake in shares of Netflix by 15.4% in the fourth quarter. Venture Visionary Partners LLC now owns 9,849 shares of the Internet television network’s stock valued at $4,795,000 after buying an additional 1,318 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Netflix by 142.6% in the third quarter. Assenagon Asset Management S.A. now owns 667,597 shares of the Internet television network’s stock valued at $252,085,000 after buying an additional 392,427 shares in the last quarter. Finally, Sandy Cove Advisors LLC lifted its stake in shares of Netflix by 10.6% in the fourth quarter. Sandy Cove Advisors LLC now owns 1,187 shares of the Internet television network’s stock valued at $578,000 after buying an additional 114 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

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.