Wedbush Reiterates Outperform Rating for Netflix (NASDAQ:NFLX)

Wedbush restated their outperform rating on shares of Netflix (NASDAQ:NFLX) in a research report sent to investors on Wednesday,RTT News reports. The firm currently has a $1,150.00 price target on the Internet television network’s stock, up from their prior price target of $950.00.

Other equities analysts also recently issued research reports about the stock. StockNews.com raised shares of Netflix from a “hold” rating to a “buy” rating in a research note on Saturday, December 21st. Argus increased their target price on Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Needham & Company LLC raised their price target on shares of Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a report on Wednesday. UBS Group lifted their price objective on Netflix from $1,040.00 to $1,150.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Seaport Res Ptn upgraded shares of Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $993.82.

Netflix Price Performance

Shares of NFLX stock opened at $953.99 on Wednesday. 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 firm has a market cap of $407.79 billion, a P/E ratio of 48.11, a P/E/G ratio of 1.41 and a beta of 1.27. The business’s 50 day moving average price is $886.64 and its 200-day moving average price is $762.07. Netflix has a fifty-two week low of $481.40 and a fifty-two week high of $999.00.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.20 by $0.07. The firm had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10,141,900 billion. Netflix had a return on equity of 39.48% and a net margin of 22.34%. The business’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.11 EPS. On average, equities research analysts anticipate that Netflix will post 23.43 earnings per share for the current year.

Insider Transactions at Netflix

In related news, Director Richard N. Barton sold 6,364 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were 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 quarter, insiders sold 152,198 shares of company stock worth $127,616,898. 1.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Netflix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NFLX. International Assets Investment Management LLC increased its position in shares of Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after acquiring an additional 5,748,200 shares during the period. Assenagon Asset Management S.A. raised its position in Netflix by 154.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after purchasing an additional 642,920 shares in the last quarter. 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 valued at $12,023,082,000 after purchasing an additional 426,740 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Netflix by 4.7% in the 3rd 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 during the period. Finally, Westfield Capital Management Co. LP bought a new position in shares of Netflix during the 3rd quarter worth $222,871,000. Institutional investors 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.