Netflix (NASDAQ:NFLX) Price Target Raised to $1,150.00

Netflix (NASDAQ:NFLX) had its price target boosted by Macquarie from $965.00 to $1,150.00 in a research note released on Wednesday morning,Benzinga reports. Macquarie currently has an outperform rating on the Internet television network’s stock.

NFLX has been the topic of a number of other research reports. Evercore ISI increased their price objective on shares of Netflix from $775.00 to $950.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Bank of America increased their price objective on shares of Netflix from $800.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Morgan Stanley increased their price objective 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, Pivotal Research raised their target price on shares of Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,009.29.

Netflix Trading Down 0.7 %

Netflix stock opened at $977.59 on Wednesday. The firm’s 50-day moving average is $892.06 and its 200-day moving average is $764.95. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.22. Netflix has a 1 year low of $542.01 and a 1 year high of $999.00. The company has a market cap of $417.88 billion, a P/E ratio of 49.30, a PEG ratio of 1.53 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10,141,900 billion. During the same period last year, the firm posted $2.11 EPS. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, equities analysts expect that Netflix will post 23.72 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 41,601 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $758.06, for a total transaction of $31,536,054.06. Following the completion of the sale, the chairman now directly owns 85 shares in the company, valued at approximately $64,435.10. This trade represents a 99.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Timothy M. Haley sold 11,090 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total transaction of $8,405,776.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 147,117 shares of company stock worth $123,913,691. 1.76% of the stock is owned by company insiders.

Hedge Funds Weigh In On Netflix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Patron Partners LLC raised its position in Netflix by 4.6% during the fourth quarter. Patron Partners LLC now owns 1,214 shares of the Internet television network’s stock valued at $1,082,000 after acquiring an additional 53 shares in the last quarter. Trust Point Inc. raised its position in Netflix by 5.3% during the fourth quarter. Trust Point Inc. now owns 3,091 shares of the Internet television network’s stock valued at $2,755,000 after acquiring an additional 155 shares in the last quarter. Blodgett Wealth Advisors LLC raised its position in Netflix by 49.4% during the fourth quarter. Blodgett Wealth Advisors LLC now owns 635 shares of the Internet television network’s stock valued at $566,000 after acquiring an additional 210 shares in the last quarter. Matisse Capital bought a new position in Netflix during the fourth quarter valued at approximately $250,000. Finally, Childress Capital Advisors LLC raised its position in Netflix by 1.9% during the fourth quarter. Childress Capital Advisors LLC now owns 1,680 shares of the Internet television network’s stock valued at $1,497,000 after acquiring an additional 31 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

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.