Netflix (NASDAQ:NFLX) Given New $1,150.00 Price Target at JPMorgan Chase & Co.

Netflix (NASDAQ:NFLX) had its price target raised by JPMorgan Chase & Co. from $1,000.00 to $1,150.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the Internet television network’s stock.

NFLX has been the subject of several other research reports. Bank of America increased their price objective on shares of Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Wells Fargo & Company lifted their price objective on Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Jefferies Financial Group increased their target price on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Robert W. Baird boosted their price target on shares of Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Pivotal Research increased their price objective on shares of Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Netflix has an average rating of “Moderate Buy” and a consensus price target of $993.82.

Netflix Price Performance

Shares of Netflix stock opened at $953.99 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix has a 52 week low of $481.40 and a 52 week high of $999.00. The stock’s 50-day simple moving average is $886.64 and its 200-day simple moving average is $762.07. The company has a market capitalization of $407.79 billion, a price-to-earnings ratio of 53.99, a PEG ratio of 1.40 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The business had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10,141,900 billion. During the same period last year, the firm posted $2.11 EPS. The company’s revenue was up 16.0% on a year-over-year basis. As a group, analysts expect that Netflix will post 19.76 earnings per share for the current fiscal year.

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now owns 114 shares of the company’s stock, valued at approximately $102,212.40. This trade represents a 99.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David A. Hyman sold 267 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $24,202,828.70. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 152,198 shares of company stock worth $127,616,898 over the last three months. 1.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. RPg Family Wealth Advisory LLC purchased a new position in Netflix in the third quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after buying an additional 42 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of Netflix in the 3rd quarter worth approximately $37,000. FSA Wealth Management LLC bought a new position in shares of Netflix during the 3rd quarter worth approximately $38,000. Finally, First Personal Financial Services bought a new position in shares of Netflix during the 3rd quarter worth approximately $40,000. 80.93% of the stock is owned by institutional investors.

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.