Netflix (NASDAQ:NFLX) Price Target Raised to $920.00 at Citigroup

Netflix (NASDAQ:NFLX) had its price target upped by stock analysts at Citigroup from $725.00 to $920.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the Internet television network’s stock. Citigroup’s price target indicates a potential downside of 1.58% from the stock’s previous close.

A number of other research firms have also recently issued reports on NFLX. Benchmark reaffirmed a “sell” rating and issued a $545.00 price objective on shares of Netflix in a research report on Tuesday, October 15th. TD Cowen raised their price target on Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a report on Friday, October 18th. Rosenblatt Securities upped their price objective on shares of Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Guggenheim raised their target price on shares of Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Finally, Morgan Stanley upped their price target on shares of Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Two investment 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $783.00.

Netflix Price Performance

Shares of NFLX opened at $934.74 on Thursday. 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’s fifty day simple moving average is $788.37 and its 200 day simple moving average is $707.66. Netflix has a 1-year low of $448.32 and a 1-year high of $935.27. The company has a market cap of $399.56 billion, a price-to-earnings ratio of 52.90, a PEG ratio of 1.74 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share 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 analyst estimates of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. On average, research analysts forecast that Netflix will post 19.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, Chairman Reed Hastings sold 48,363 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the sale, the chairman now directly owns 114 shares of the company’s stock, valued at approximately $102,212.40. This represents a 99.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David A. Hyman sold 267 shares of Netflix stock in a transaction 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 transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $24,202,828.70. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 209,155 shares of company stock valued at $159,682,799. 1.76% of the stock is currently owned by company insiders.

Institutional Trading of Netflix

Several hedge funds have recently modified their holdings of NFLX. DigitalBridge Group Inc. boosted its holdings in Netflix by 35.5% in the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after acquiring an additional 9,451 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Netflix by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock worth $1,829,494,000 after purchasing an additional 29,726 shares during the period. Natixis Advisors LLC lifted its holdings in shares of Netflix by 2.0% in the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock worth $434,398,000 after purchasing an additional 11,921 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in Netflix in the 3rd quarter valued at $1,517,000. Finally, Westfield Capital Management Co. LP bought a new stake in Netflix during the 3rd quarter valued at $222,871,000. Institutional investors own 80.93% of the company’s stock.

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.