Netflix (NASDAQ:NFLX) Price Target Cut to $1,000.00 by Analysts at JPMorgan Chase & Co.

Netflix (NASDAQ:NFLX) had its price target cut by stock analysts at JPMorgan Chase & Co. from $1,010.00 to $1,000.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the Internet television network’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 19.03% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. UBS Group upped their price objective on shares of Netflix from $825.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Jefferies Financial Group upped their price target on shares of Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. BMO Capital Markets reiterated an “outperform” rating and issued a $825.00 price target (up previously from $770.00) on shares of Netflix in a report on Friday, October 18th. Evercore ISI upped their price objective on Netflix from $775.00 to $950.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Finally, Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $824.00.

Netflix Trading Down 4.0 %

Shares of NASDAQ NFLX traded down $34.86 during midday trading on Friday, reaching $840.14. 1,798,484 shares of the stock were exchanged, compared to its average volume of 2,571,448. The stock has a 50 day moving average price of $876.43 and a 200-day moving average price of $751.52. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $359.12 billion, a P/E ratio of 47.55, a P/E/G ratio of 1.77 and a beta of 1.27. Netflix has a 52-week low of $475.26 and a 52-week high of $941.75.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share 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 company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Equities research analysts expect that Netflix will post 19.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard N. Barton sold 6,364 shares of the business’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 transaction, the director now owns 246 shares in the company, valued at $216,327.48. The trade was a 96.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the sale, the chairman now directly owns 114 shares in the company, valued at approximately $102,212.40. This trade represents a 99.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 156,742 shares of company stock worth $131,030,268. Corporate insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Institutional investors have recently bought and sold shares of the stock. RPg Family Wealth Advisory LLC purchased a new stake in shares of Netflix during the third quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in Netflix during the third quarter valued at approximately $37,000. FSA Wealth Management LLC acquired a new position in shares of Netflix in the third quarter worth $38,000. Finally, First Personal Financial Services purchased a new stake in shares of Netflix during the 3rd quarter worth about $40,000. Institutional investors and hedge funds 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.