Netflix (NASDAQ:NFLX) PT Raised to $850.00 at JPMorgan Chase & Co.

Netflix (NASDAQ:NFLX) had its price target boosted by stock analysts at JPMorgan Chase & Co. from $750.00 to $850.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the Internet television network’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 11.27% from the company’s current price.

Several other brokerages also recently weighed in on NFLX. Oppenheimer lifted their price objective on shares of Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a research report on Friday. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. TD Cowen increased their price objective on Netflix from $775.00 to $820.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Citigroup lifted their target price on Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Finally, UBS Group raised their price target on Netflix from $750.00 to $825.00 and gave the company a “buy” rating in a report on Friday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $747.70.

Netflix Price Performance

Shares of NFLX opened at $763.89 on Friday. Netflix has a 52 week low of $392.26 and a 52 week high of $766.28. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The firm has a market cap of $329.24 billion, a price-to-earnings ratio of 53.01, a PEG ratio of 1.49 and a beta of 1.26. The stock has a 50 day moving average of $696.38 and a 200-day moving average of $654.94.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. The firm had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. Netflix’s revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the company posted $3.29 earnings per share. As a group, analysts forecast that Netflix will post 19.08 EPS for the current year.

Insider Activity

In other news, Chairman Reed Hastings sold 25,599 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the completion of the sale, the chairman now directly owns 57 shares in the company, valued at approximately $35,991.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Chairman Reed Hastings sold 25,599 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $631.43, for a total value of $16,163,976.57. Following the completion of the transaction, the chairman now directly owns 57 shares of the company’s stock, valued at $35,991.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Spencer Adam Neumann sold 433 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $626.19, for a total transaction of $271,140.27. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 225,167 shares of company stock valued at $150,492,460. 1.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. DigitalBridge Group Inc. boosted its stake in shares of Netflix by 35.5% in the second 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 period. M&G Plc acquired a new position in Netflix during the 1st quarter worth $9,682,000. BSN CAPITAL PARTNERS Ltd raised its stake in Netflix by 24.4% during the 1st quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock valued at $155,185,000 after purchasing an additional 49,000 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Netflix by 58.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock worth $55,968,000 after acquiring an additional 30,511 shares in the last quarter. Finally, First Trust Direct Indexing L.P. lifted its position in shares of Netflix by 14.9% in the first quarter. First Trust Direct Indexing L.P. now owns 10,330 shares of the Internet television network’s stock worth $6,274,000 after purchasing an additional 1,342 shares in the last quarter. 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.