Netflix (NASDAQ:NFLX) Price Target Lowered to $1,140.00 at UBS Group

Netflix (NASDAQ:NFLX) had its price target reduced by UBS Group from $1,150.00 to $1,140.00 in a report published on Tuesday morning,Benzinga reports. UBS Group currently has a buy rating on the Internet television network’s stock.

Several other equities research analysts have also recently commented on the stock. JPMorgan Chase & Co. cut their price objective on shares of Netflix from $1,150.00 to $1,025.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Evercore ISI upped their price objective on Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. KeyCorp dropped their target price on Netflix from $1,100.00 to $1,000.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Benchmark raised Netflix from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Finally, Loop Capital reissued a “hold” rating on shares of Netflix in a research report on Monday, March 24th. Ten investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,021.31.

Netflix Stock Performance

NFLX stock opened at $976.28 on Tuesday. Netflix has a 1-year low of $542.01 and a 1-year high of $1,064.50. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a market cap of $417.61 billion, a PE ratio of 49.23, a P/E/G ratio of 2.12 and a beta of 1.55. The business’s 50-day moving average price is $957.71 and its two-hundred day moving average price is $887.65.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating the consensus estimate of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. Netflix’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.11 EPS. As a group, research analysts forecast that Netflix will post 24.58 earnings per share for the current year.

Insider Activity

In related news, Chairman Reed Hastings sold 25,360 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total value of $23,360,364.00. Following the completion of the transaction, the chairman now owns 394 shares of the company’s stock, valued at $362,933.10. The trade was a 98.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gregory K. Peters sold 102,228 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the sale, the chief executive officer now owns 12,950 shares in the company, valued at $12,700,583. The trade was a 88.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 274,312 shares of company stock worth $267,919,297. 1.76% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Netflix

A number of institutional investors have recently added to or reduced their stakes in NFLX. Principal Financial Group Inc. raised its holdings in Netflix by 13.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock valued at $1,200,485,000 after buying an additional 198,148 shares during the last quarter. M&T Bank Corp lifted its holdings in shares of 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 purchasing an additional 1,684 shares during the period. McIlrath & Eck LLC grew its stake in shares of Netflix by 13.8% in the third quarter. McIlrath & Eck LLC now owns 247 shares of the Internet television network’s stock worth $175,000 after purchasing an additional 30 shares during the last quarter. Advisory Resource Group increased its holdings in Netflix by 0.7% in the third quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network’s stock valued at $1,238,000 after purchasing an additional 12 shares during the period. Finally, Virtu Financial LLC raised its position in Netflix by 356.5% during the 3rd quarter. Virtu Financial LLC now owns 13,879 shares of the Internet television network’s stock worth $9,844,000 after purchasing an additional 10,839 shares during 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.