JPMorgan Chase & Co. Boosts Netflix (NASDAQ:NFLX) Price Target to $850.00

Netflix (NASDAQ:NFLX) had its price target upped by JPMorgan Chase & Co. from $750.00 to $850.00 in a research note issued to investors on Friday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the Internet television network’s stock.

Several other equities analysts also recently issued reports on the company. Citigroup upped their target price on Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Needham & Company LLC increased their price objective on Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft lifted their target price on Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. UBS Group upped their target price on Netflix from $750.00 to $825.00 and gave the company a “buy” rating in a research report on Friday. Finally, Piper Sandler raised shares of Netflix from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $650.00 to $800.00 in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and a consensus price target of $747.70.

Netflix Trading Up 1.1 %

Shares of Netflix stock opened at $772.07 on Friday. The firm’s 50 day simple moving average is $699.16 and its two-hundred day simple moving average is $656.21. The firm has a market capitalization of $332.76 billion, a price-to-earnings ratio of 53.58, a PEG ratio of 1.49 and a beta of 1.26. Netflix has a 12-month low of $395.62 and a 12-month high of $773.00. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55.

Insider Buying and Selling at Netflix

In related news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Netflix news, Chairman Reed Hastings sold 25,599 shares of Netflix stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the sale, the chairman now owns 57 shares of the company’s stock, valued at $35,991.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David A. Hyman sold 20,656 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at $19,128,159.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 229,711 shares of company stock valued at $153,905,830 over the last ninety days. Corporate insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Heartland Bank & Trust Co lifted its position in shares of Netflix by 0.9% during the 2nd quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock valued at $1,195,000 after acquiring an additional 15 shares during the period. Cedrus LLC increased its stake in Netflix by 0.8% in the 3rd quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock valued at $1,263,000 after purchasing an additional 15 shares in the last quarter. Meritas Wealth Management LLC raised its holdings in Netflix by 2.9% during the third quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock worth $406,000 after purchasing an additional 16 shares during the last quarter. Stage Harbor Financial LLC boosted its position in Netflix by 4.8% during the third quarter. Stage Harbor Financial LLC now owns 346 shares of the Internet television network’s stock worth $250,000 after purchasing an additional 16 shares in the last quarter. Finally, Compass Ion Advisors LLC boosted its position in Netflix by 4.5% during the third quarter. Compass Ion Advisors LLC now owns 369 shares of the Internet television network’s stock worth $262,000 after purchasing an additional 16 shares in the last quarter. 80.93% of the stock is currently 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.