Netflix (NASDAQ:NFLX – Get Free Report)‘s stock had its “hold” rating reissued by analysts at Truist Financial in a report released on Friday, Benzinga reports. They currently have a $485.00 price objective on the Internet television network’s stock. Truist Financial’s target price would indicate a potential upside of 22.18% from the company’s current price.
NFLX has been the topic of a number of other reports. Loop Capital upgraded Netflix from a “hold” rating to a “buy” rating and increased their price objective for the company from $425.00 to $500.00 in a research report on Friday, August 25th. Pivotal Research raised their target price on shares of Netflix from $535.00 to $600.00 in a research note on Thursday, July 20th. Bank of America raised their target price on shares of Netflix from $490.00 to $525.00 and gave the company a “buy” rating in a research note on Thursday, July 20th. Robert W. Baird raised shares of Netflix from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $340.00 to $500.00 in a research note on Monday, July 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Netflix from $410.00 to $475.00 and gave the company a “buy” rating in a research note on Monday, July 17th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $432.91.
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Netflix Price Performance
Netflix (NASDAQ:NFLX – Get Free Report) last released its quarterly earnings results on Wednesday, July 19th. The Internet television network reported $3.29 EPS for the quarter, beating the consensus estimate of $2.85 by $0.44. Netflix had a net margin of 13.22% and a return on equity of 19.76%. The business had revenue of $8.19 billion for the quarter, compared to analysts’ expectations of $8.29 billion. During the same period in the prior year, the firm earned $3.20 earnings per share. Netflix’s revenue was up 2.7% compared to the same quarter last year. Equities research analysts expect that Netflix will post 11.92 EPS for the current fiscal year.
Insider Buying and Selling
In related news, Director Jay C. Hoag sold 4,954 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $422.24, for a total transaction of $2,091,776.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Timothy M. Haley sold 1,022 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $450.19, for a total transaction of $460,094.18. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jay C. Hoag sold 4,954 shares of the company’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $422.24, for a total transaction of $2,091,776.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 125,377 shares of company stock worth $54,547,674. Insiders own 2.45% of the company’s stock.
Hedge Funds Weigh In On Netflix
Several institutional investors and hedge funds have recently modified their holdings of NFLX. IMS Capital Management acquired a new position in shares of Netflix in the second quarter valued at approximately $273,000. Farther Finance Advisors LLC grew its position in shares of Netflix by 12.7% in the second quarter. Farther Finance Advisors LLC now owns 605 shares of the Internet television network’s stock valued at $266,000 after purchasing an additional 68 shares during the last quarter. Prosperity Wealth Management Inc. acquired a new position in Netflix in the 2nd quarter valued at $282,000. Jag Capital Management LLC grew its holdings in Netflix by 467.1% in the 2nd quarter. Jag Capital Management LLC now owns 39,679 shares of the Internet television network’s stock valued at $17,478,000 after buying an additional 32,682 shares in the last quarter. Finally, ST Germain D J Co. Inc. acquired a new position in Netflix in the 2nd quarter valued at $22,195,000. 79.95% of the stock is currently owned by institutional investors and hedge funds.
Netflix Company Profile
Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.
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