Morgan Stanley Boosts Netflix (NASDAQ:NFLX) Price Target to $830.00

Netflix (NASDAQ:NFLX) had its target price hoisted by investment analysts at Morgan Stanley from $820.00 to $830.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the Internet television network’s stock. Morgan Stanley’s price objective points to a potential upside of 20.70% from the stock’s previous close.

A number of other brokerages also recently issued reports on NFLX. Citigroup upped their price objective on Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Loop Capital upped their price target on Netflix from $750.00 to $800.00 and gave the company a “buy” rating in a research report on Wednesday. Oppenheimer upped their price target on Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a research report on Friday. China Renaissance initiated coverage on Netflix in a research report on Thursday, September 5th. They set a “hold” rating and a $680.00 price target on the stock. Finally, Pivotal Research upped their price target on Netflix from $900.00 to $925.00 and gave the company a “buy” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $713.24.

Netflix Trading Down 2.0 %

Shares of Netflix stock opened at $687.65 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. Netflix has a 52 week low of $344.73 and a 52 week high of $736.00. The stock has a 50 day moving average price of $693.78 and a two-hundred day moving average price of $653.62. The stock has a market capitalization of $296.38 billion, a PE ratio of 47.72, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. During the same quarter in the prior year, the company posted $3.29 earnings per share. Netflix’s revenue was up 16.8% compared to the same quarter last year. As a group, equities analysts anticipate that Netflix will post 19.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Reed Hastings sold 25,599 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the completion of the sale, the chairman now directly owns 57 shares in the company, valued at $35,991.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Chairman Reed Hastings sold 25,599 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the transaction, the chairman now directly owns 57 shares of the company’s stock, valued at $35,991.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Leslie J. Kilgore sold 383 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the transaction, the director now directly owns 35,262 shares in the company, valued at $25,741,260. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 225,167 shares of company stock worth $150,492,460. 1.76% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. DigitalBridge Group Inc. increased its holdings in shares of Netflix by 35.5% in the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after purchasing an additional 9,451 shares during the period. M&G Plc acquired a new position in shares of Netflix in the first quarter valued at about $9,682,000. BSN CAPITAL PARTNERS Ltd increased its holdings in shares of Netflix by 24.4% in the first quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock valued at $155,185,000 after purchasing an additional 49,000 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Netflix by 58.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock valued at $55,968,000 after purchasing an additional 30,511 shares during the period. Finally, First Trust Direct Indexing L.P. increased its holdings in shares of Netflix by 14.9% in the first quarter. First Trust Direct Indexing L.P. now owns 10,330 shares of the Internet television network’s stock valued at $6,274,000 after purchasing an additional 1,342 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

About Netflix

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.