Netflix (NASDAQ:NFLX) Price Target Raised to $850.00 at The Goldman Sachs Group

Netflix (NASDAQ:NFLX) had its price target increased by The Goldman Sachs Group from $750.00 to $850.00 in a report published on Wednesday, MarketBeat Ratings reports. The firm currently has a neutral rating on the Internet television network’s stock.

Other research analysts also recently issued research reports about the company. UBS Group raised their price target on Netflix from $825.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. KeyCorp raised their target price on shares of Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Wolfe Research reiterated an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. Citigroup raised their price objective on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Finally, JPMorgan Chase & Co. upped their target price on shares of Netflix from $850.00 to $1,010.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, Netflix has an average rating of “Moderate Buy” and an average target price of $824.30.

Netflix Stock Down 0.5 %

Shares of NASDAQ:NFLX opened at $875.00 on Wednesday. The firm has a 50 day simple moving average of $874.05 and a 200-day simple moving average of $750.65. Netflix has a twelve month low of $472.95 and a twelve month high of $941.75. 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 $374.03 billion, a PE ratio of 49.52, a P/E/G ratio of 1.77 and a beta of 1.27.

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

Insiders Place Their Bets

In other news, Chairman Reed Hastings sold 48,363 shares of the firm’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 transaction of $43,362,265.80. Following the completion of the transaction, the chairman now directly owns 114 shares of the company’s stock, valued at $102,212.40. This trade represents a 99.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard N. Barton sold 6,364 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the completion of the sale, the director now directly owns 246 shares in the company, valued at approximately $216,327.48. The trade was a 96.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 156,742 shares of company stock worth $131,030,268. 1.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Netflix

Institutional investors have recently made changes to their positions in the stock. State Street Corp increased 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 worth $12,023,082,000 after purchasing an additional 426,740 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Netflix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after purchasing an additional 123,029 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Netflix by 4.7% during the third 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 in the last quarter. International Assets Investment Management LLC raised its position in shares of Netflix by 116,620.0% in the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after buying an additional 5,748,200 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Netflix by 0.5% during the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after buying an additional 23,702 shares during the period. 80.93% of the stock is 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.