Netflix (NASDAQ:NFLX) Price Target Raised to $1,040.00

Netflix (NASDAQ:NFLX) had its price objective increased by Argus from $840.00 to $1,040.00 in a report released on Monday, Marketbeat.com reports. Argus currently has a buy rating on the Internet television network’s stock.

NFLX has been the topic of a number of other research reports. KeyCorp raised their target price on Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Wells Fargo & Company raised their price objective on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Canaccord Genuity Group boosted their target price on shares of Netflix from $760.00 to $940.00 and gave the stock a “hold” rating in a research report on Monday, December 2nd. StockNews.com raised shares of Netflix from a “hold” rating to a “buy” rating in a report on Saturday, December 21st. Finally, Wedbush restated an “outperform” rating and set a $950.00 price objective (up previously from $800.00) on shares of Netflix in a report on Monday, November 18th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $824.30.

Netflix Trading Down 0.5 %

Shares of NFLX stock opened at $875.00 on Monday. Netflix has a 12 month low of $472.95 and a 12 month high of $941.75. The company has a market cap of $374.03 billion, a PE ratio of 49.52, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $874.05 and its two-hundred day moving average is $750.65.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. Equities analysts predict that Netflix will post 19.78 EPS for the current year.

Insiders Place Their Bets

In related news, Chairman Reed Hastings sold 48,363 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the completion of the transaction, the chairman now owns 114 shares in the company, valued at $102,212.40. The trade was a 99.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David A. Hyman sold 267 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at $24,202,828.70. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 156,742 shares of company stock valued at $131,030,268 in the last 90 days. 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 made changes to their positions in NFLX. International Assets Investment Management LLC raised its holdings in Netflix by 116,620.0% during the 3rd 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 purchasing an additional 5,748,200 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of 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 worth $750,713,000 after buying an additional 642,920 shares during the period. State Street Corp raised its stake 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 buying an additional 426,740 shares during the last quarter. Jennison Associates LLC lifted its holdings in Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $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 Netflix in the third quarter valued at approximately $222,871,000. 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.