Netflix (NASDAQ:NFLX) Price Target Cut to $1,040.00 by Analysts at Oppenheimer

Netflix (NASDAQ:NFLX) had its target price decreased by Oppenheimer from $1,065.00 to $1,040.00 in a research note issued to investors on Wednesday morning, Marketbeat reports. Oppenheimer currently has an outperform rating on the Internet television network’s stock.

Other research analysts have also recently issued reports about the company. Rosenblatt Securities raised their target price on Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Citigroup lifted their target price on shares of Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. The Goldman Sachs Group increased their price target on shares of Netflix from $750.00 to $850.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 8th. Wells Fargo & Company lifted their price objective on Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. dropped their target price on Netflix from $1,010.00 to $1,000.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $845.82.

Netflix Trading Up 2.4 %

Shares of Netflix stock opened at $848.26 on Wednesday. The company has a market cap of $362.60 billion, a price-to-earnings ratio of 48.01, a PEG ratio of 1.35 and a beta of 1.27. Netflix has a 1 year low of $475.26 and a 1 year high of $941.75. The company’s fifty day simple moving average is $881.04 and its 200-day simple moving average is $755.96. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating 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, sell-side analysts expect that Netflix will post 19.78 EPS for the current year.

Insider Buying and Selling at Netflix

In other news, CEO Gregory K. Peters sold 4,186 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $750.00, for a total value of $3,139,500.00. Following the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $9,817,500. This represents a 24.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard N. Barton sold 6,364 shares of Netflix stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total value of $5,596,374.32. Following the sale, the director now directly owns 246 shares of the company’s stock, valued at approximately $216,327.48. This trade represents a 96.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 156,742 shares of company stock valued at $131,030,268. 1.76% of the stock is currently owned by insiders.

Institutional Trading of Netflix

A number of hedge funds have recently modified their holdings of the company. State Street Corp boosted its position in shares of Netflix by 2.6% during 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. Geode Capital Management LLC raised its stake in Netflix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after buying an additional 123,029 shares during the period. Jennison Associates LLC lifted its holdings 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 acquiring an additional 316,594 shares in the last quarter. International Assets Investment Management LLC grew its stake in Netflix by 116,620.0% in the third 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 acquiring an additional 5,748,200 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of Netflix by 0.5% in the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after acquiring an additional 23,702 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Company Profile

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.