Netflix (NASDAQ:NFLX) Price Target Raised to $850.00

Netflix (NASDAQ:NFLX) had its price target increased by The Goldman Sachs Group from $750.00 to $850.00 in a research report released on Wednesday, Marketbeat.com reports. The brokerage currently has a neutral rating on the Internet television network’s stock.

Other equities analysts also recently issued reports about the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $825.00 target price (up from $770.00) on shares of Netflix in a research note on Friday, October 18th. UBS Group upped their price objective on Netflix from $825.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. raised their target price on Netflix from $850.00 to $1,010.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Piper Sandler reaffirmed an “overweight” rating and issued a $840.00 price target (up previously from $800.00) on shares of Netflix in a research note on Friday, October 18th. Finally, StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a research report on Saturday, December 21st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $824.00.

Netflix Trading Down 4.3 %

Shares of Netflix stock opened at $837.69 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The stock’s 50 day simple moving average is $878.06 and its 200-day simple moving average is $752.69. The stock has a market cap of $358.08 billion, a P/E ratio of 47.41, a P/E/G ratio of 1.77 and a beta of 1.27. Netflix has a 1-year low of $475.26 and a 1-year high of $941.75.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Analysts predict that Netflix will post 19.78 EPS for the current fiscal year.

Insider Transactions at Netflix

In other Netflix news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Anne M. Sweeney sold 589 shares of Netflix stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 156,742 shares of company stock valued at $131,030,268. 1.76% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Netflix

Large investors have recently modified their holdings of the company. State Street Corp raised its position in Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after buying an additional 426,740 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Netflix by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after purchasing an additional 123,029 shares in the last quarter. Jennison Associates LLC increased its position in Netflix by 4.7% during 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 buying an additional 316,594 shares in the last quarter. International Assets Investment Management LLC raised its stake 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 during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Netflix by 0.5% during the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after buying an additional 23,702 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.