Loop Capital Has Lowered Expectations for Netflix (NASDAQ:NFLX) Stock Price

Netflix (NASDAQ:NFLX) had its price target reduced by investment analysts at Loop Capital from $950.00 to $925.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the Internet television network’s stock. Loop Capital’s price target would suggest a potential upside of 7.80% from the company’s previous close.

Several other research firms have also commented on NFLX. Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Benchmark raised their price objective on shares of Netflix from $555.00 to $720.00 and gave the stock a “sell” rating in a research note on Friday, January 3rd. Needham & Company LLC boosted their target price on shares of Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Morgan Stanley increased their price target on shares of Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, Piper Sandler lifted their price objective on shares of Netflix from $840.00 to $950.00 and gave the company an “overweight” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $845.06.

Netflix Stock Up 1.9 %

NASDAQ:NFLX opened at $858.10 on Thursday. The firm has a market capitalization of $366.80 billion, a P/E ratio of 48.56, a PEG ratio of 1.35 and a beta of 1.27. The company’s fifty day moving average price is $883.32 and its 200-day moving average price is $757.20. Netflix has a 1-year low of $476.06 and a 1-year high of $941.75. 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 (NASDAQ:NFLX) last announced its quarterly 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. The company had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. As a group, equities research analysts anticipate that Netflix will post 19.78 EPS for the current year.

Insider Buying and Selling

In related news, CEO Theodore A. Sarandos sold 1,278 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $767.05, for a total transaction of $980,289.90. Following the completion of the sale, the chief executive officer now directly owns 2,556 shares in the company, valued at approximately $1,960,579.80. This trade represents a 33.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Reed Hastings sold 48,363 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the transaction, the chairman now owns 114 shares in the company, valued at $102,212.40. The trade was a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 152,198 shares of company stock worth $127,616,898. 1.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Netflix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. DigitalBridge Group Inc. lifted its stake in shares of Netflix by 35.5% in the 2nd 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 last quarter. Nordea Investment Management AB raised its holdings in Netflix by 22.7% in the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after buying an additional 156,958 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Netflix by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock valued at $1,829,494,000 after buying an additional 29,726 shares during the last quarter. Natixis Advisors LLC boosted its stake in Netflix by 2.0% during the third quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock worth $434,398,000 after buying an additional 11,921 shares during the period. Finally, M&T Bank Corp boosted its stake in Netflix by 4.2% during the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after buying an additional 1,684 shares during the period. Institutional investors and hedge funds 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.