The Goldman Sachs Group Increases Netflix (NASDAQ:NFLX) Price Target to $850.00

Netflix (NASDAQ:NFLX - Free Report) had its target price upped by The Goldman Sachs Group from $750.00 to $850.00 in a report released on Wednesday, MarketBeat reports. The firm currently has a neutral rating on the Internet television network's stock.

Several other equities research analysts have also commented on NFLX. Deutsche Bank Aktiengesellschaft raised their price target on shares of Netflix from $590.00 to $650.00 and gave the company a "hold" rating in a research note on Wednesday, October 9th. Needham & Company LLC raised their target price on Netflix from $700.00 to $800.00 and gave the company a "buy" rating in a research report on Friday, October 18th. Loop Capital lowered Netflix from a "buy" rating to a "hold" rating and boosted their price target for the stock from $800.00 to $950.00 in a research report on Monday, December 16th. Sanford C. Bernstein raised their price target on Netflix from $625.00 to $780.00 and gave the company a "market perform" rating in a report on Friday, October 18th. Finally, StockNews.com upgraded shares of Netflix from a "hold" rating to a "buy" rating in a research note on Saturday, December 21st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $824.30.

Netflix Stock Performance

Shares of Netflix stock traded down $4.19 on Wednesday, reaching $875.00. 2,343,756 shares of the company were exchanged, compared to its average volume of 2,747,146. The firm has a market cap of $374.03 billion, a price-to-earnings ratio of 49.52, a P/E/G ratio of 1.77 and a beta of 1.27. Netflix has a 1-year low of $472.95 and a 1-year high of $941.75. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The company's 50-day moving average is $871.62 and its two-hundred day moving average is $749.78.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. As a group, research analysts expect that Netflix will post 19.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Netflix news, insider David A. Hyman sold 267 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at $24,202,828.70. This represents a 0.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Leslie J. Kilgore sold 383 shares of the business's stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total transaction of $279,590.00. Following the transaction, the director now owns 35,262 shares in the company, valued at approximately $25,741,260. This represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 150,761 shares of company stock valued at $125,713,484. Corporate insiders own 1.76% of the company's stock.

Institutional Investors Weigh In On Netflix

Hedge funds and other institutional investors have recently made changes to their positions in the company. RPg Family Wealth Advisory LLC acquired a new position in Netflix in the third quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network's stock worth $34,000 after purchasing an additional 42 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of Netflix during the 3rd quarter valued at $37,000. FSA Wealth Management LLC bought a new position in shares of Netflix during the 3rd quarter valued at $38,000. Finally, First Personal Financial Services acquired a new stake in shares of Netflix in the 3rd quarter valued at $40,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

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.