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

Netflix (NASDAQ:NFLX) had its target price cut by JPMorgan Chase & Co. from $1,010.00 to $1,000.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the Internet television network’s stock.

Other analysts also recently issued reports about the company. Oppenheimer lifted their price objective on Netflix from $825.00 to $1,065.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Citigroup upped their price target 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. Loop Capital lowered shares of Netflix from a “buy” rating to a “hold” rating and lifted their price objective for the company from $800.00 to $950.00 in a report on Monday, December 16th. Needham & Company LLC upped their target price on Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $824.00.

Netflix Price Performance

Netflix stock opened at $837.69 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market cap of $358.08 billion, a price-to-earnings ratio of 47.41, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. The firm has a 50-day moving average of $878.06 and a two-hundred day moving average of $752.69. Netflix has a 1 year low of $475.26 and a 1 year high of $941.75.

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

Insider Buying and Selling

In other news, CEO Gregory K. Peters sold 4,186 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $750.00, for a total transaction of $3,139,500.00. Following the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at $9,817,500. This trade represents a 24.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard N. Barton sold 6,364 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total value of $5,596,374.32. Following the completion of the transaction, the director now directly owns 246 shares of the company’s stock, valued at $216,327.48. The trade was a 96.28 % decrease in their position. 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 over the last ninety days. Company insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Graypoint LLC increased its holdings in Netflix by 1.0% in the 4th quarter. Graypoint LLC now owns 4,325 shares of the Internet television network’s stock worth $3,855,000 after acquiring an additional 42 shares in the last quarter. RMR Wealth Builders raised its position in shares of Netflix by 4.8% during the 4th quarter. RMR Wealth Builders now owns 4,863 shares of the Internet television network’s stock worth $4,335,000 after purchasing an additional 221 shares during the last quarter. HBW Advisory Services LLC lifted its stake in Netflix by 13.3% in the 4th quarter. HBW Advisory Services LLC now owns 4,114 shares of the Internet television network’s stock valued at $3,667,000 after buying an additional 482 shares in the last quarter. Highline Wealth Partners LLC boosted its holdings in Netflix by 2.5% in the 4th quarter. Highline Wealth Partners LLC now owns 710 shares of the Internet television network’s stock worth $633,000 after buying an additional 17 shares during the last quarter. Finally, ORG Wealth Partners LLC increased its stake in Netflix by 5.8% during the 4th quarter. ORG Wealth Partners LLC now owns 760 shares of the Internet television network’s stock worth $677,000 after buying an additional 42 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

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.