Netflix (NASDAQ:NFLX - Free Report) had its target price hoisted by The Goldman Sachs Group from $850.00 to $960.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the Internet television network's stock.
Several other research analysts have also commented on NFLX. Bank of America boosted their price objective on Netflix from $1,000.00 to $1,175.00 and gave the stock a "buy" rating in a report on Wednesday. Wolfe Research restated an "outperform" rating on shares of Netflix in a report on Friday, October 18th. Citigroup increased their price objective on Netflix from $725.00 to $920.00 and gave the stock a "neutral" rating in a report on Thursday, December 5th. Canaccord Genuity Group upgraded Netflix from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $940.00 to $1,150.00 in a report on Wednesday. Finally, UBS Group lifted their price objective on Netflix from $825.00 to $1,040.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $996.94.
Read Our Latest Report on Netflix
Netflix Trading Up 3.2 %
NASDAQ NFLX traded up $30.87 during trading hours on Wednesday, reaching $984.86. The company's stock had a trading volume of 7,742,613 shares, compared to its average volume of 4,807,119. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. Netflix has a 52 week low of $537.07 and a 52 week high of $999.00. The firm has a fifty day simple moving average of $889.11 and a 200-day simple moving average of $763.41. The stock has a market cap of $420.99 billion, a P/E ratio of 49.67, a P/E/G ratio of 1.41 and a beta of 1.27.
Netflix (NASDAQ:NFLX - Get Free Report) last posted 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 business had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10,141,900 billion. Netflix had a net margin of 22.34% and a return on equity of 39.48%. Netflix's revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.11 EPS. Equities analysts forecast that Netflix will post 23.43 earnings per share for the current fiscal year.
Insider Buying and Selling at Netflix
In related news, Chairman Reed Hastings sold 48,363 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total value of $43,362,265.80. Following the sale, the chairman now owns 114 shares of the company's stock, valued at approximately $102,212.40. This represents a 99.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard N. Barton sold 5,698 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $756.00, for a total value of $4,307,688.00. Following the transaction, the director now directly owns 246 shares in the company, valued at approximately $185,976. This represents a 95.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 152,198 shares of company stock valued at $127,616,898 in the last ninety days. Insiders own 1.76% of the company's stock.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in Netflix by 116,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network's stock valued at $4,080,522,000 after purchasing an additional 5,748,200 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Netflix by 154.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network's stock worth $750,713,000 after purchasing an additional 642,920 shares in the last quarter. State Street Corp grew its stake in Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network's stock worth $12,023,082,000 after purchasing an additional 426,740 shares in the last quarter. Jennison Associates LLC lifted its holdings in Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network's stock worth $4,958,417,000 after acquiring an additional 316,594 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in Netflix in the third quarter worth about $222,871,000. 80.93% of the stock is owned by hedge funds and other institutional investors.
Netflix Company Profile
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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.
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