Netflix (NASDAQ:NFLX) Price Target Lowered to $1,000.00 at KeyCorp

Netflix (NASDAQ:NFLX - Get Free Report) had its target price cut by stock analysts at KeyCorp from $1,100.00 to $1,000.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the Internet television network's stock. KeyCorp's target price suggests a potential upside of 8.90% from the company's previous close.

A number of other research analysts have also recently commented on the company. JPMorgan Chase & Co. dropped their price target on Netflix from $1,150.00 to $1,025.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Macquarie upped their price objective on shares of Netflix from $965.00 to $1,150.00 and gave the company an "outperform" rating in a research note on Wednesday, January 22nd. Robert W. Baird raised their target price on Netflix from $875.00 to $1,200.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 22nd. Sanford C. Bernstein upgraded shares of Netflix from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $975.00 to $1,200.00 in a research note on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Netflix from $650.00 to $875.00 and gave the stock a "hold" rating in a research report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Netflix currently has a consensus rating of "Moderate Buy" and an average price target of $1,017.31.

Netflix Price Performance

Shares of NASDAQ NFLX traded down $2.88 during trading hours on Wednesday, hitting $918.29. 4,069,267 shares of the stock were exchanged, compared to its average volume of 3,687,525. Netflix has a 1-year low of $542.01 and a 1-year high of $1,064.50. The company has a market cap of $392.80 billion, a PE ratio of 46.31, a price-to-earnings-growth ratio of 2.12 and a beta of 1.55. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The company's fifty day simple moving average is $960.09 and its two-hundred day simple moving average is $884.26.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.20 by $0.07. The company had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company's revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.11 EPS. On average, sell-side analysts predict that Netflix will post 24.58 EPS for the current year.

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 25,360 shares of Netflix stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total value of $23,360,364.00. Following the completion of the sale, the chairman now owns 394 shares of the company's stock, valued at approximately $362,933.10. This trade represents a 98.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Strive Masiyiwa sold 2,813 shares of the company's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total transaction of $2,835,138.31. The disclosure for this sale can be found here. In the last quarter, insiders have sold 274,312 shares of company stock valued at $267,919,297. 1.76% of the stock is owned by company insiders.

Institutional Trading of Netflix

Several hedge funds and other institutional investors have recently modified their holdings of NFLX. Pathway Financial Advisers LLC boosted its holdings in shares of Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock worth $27,000 after acquiring an additional 14 shares during the period. Brown Shipley& Co Ltd bought a new position in Netflix in the 4th quarter worth about $27,000. Transce3nd LLC purchased a new position in Netflix during the 4th quarter valued at about $32,000. Newton One Investments LLC bought a new stake in shares of Netflix during the fourth quarter valued at about $34,000. Finally, Pineridge Advisors LLC lifted its holdings in shares of Netflix by 4,000.0% in the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network's stock worth $37,000 after buying an additional 40 shares in the last quarter. Institutional investors own 80.93% of the company's stock.

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.