Benchmark Issues Positive Forecast for Netflix (NASDAQ:NFLX) Stock Price

Netflix (NASDAQ:NFLX) had its price target lifted by Benchmark from $555.00 to $720.00 in a research report report published on Friday, MarketBeat Ratings reports. The firm currently has a sell rating on the Internet television network’s stock.

A number of other analysts have also recently commented on the stock. Guggenheim upped their price target on shares of Netflix from $810.00 to $825.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Rosenblatt Securities lifted their target price on shares of Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. The Goldman Sachs Group set a $750.00 target price on Netflix in a research note on Friday, October 18th. Oppenheimer increased their target price on Netflix from $825.00 to $1,065.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Finally, KeyCorp lifted their price objective on Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average price target of $813.00.

Netflix Trading Down 0.6 %

Shares of Netflix stock opened at $881.05 on Friday. The stock has a market capitalization of $376.61 billion, a PE ratio of 49.86, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. The stock has a 50 day moving average price of $864.05 and a two-hundred day moving average price of $744.71. Netflix has a 52 week low of $466.53 and a 52 week high of $941.75. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The business had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. As a group, equities analysts anticipate that Netflix will post 19.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Reed Hastings sold 35,868 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the sale, the chairman now directly owns 114 shares of the company’s stock, valued at $101,241.12. This represents a 99.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anne M. Sweeney sold 589 shares of Netflix stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total transaction of $518,320.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 150,761 shares of company stock worth $125,713,484. 1.76% of the stock is owned by corporate insiders.

Institutional Trading of Netflix

Several institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after acquiring an additional 426,740 shares in the last quarter. Geode Capital Management LLC grew its stake in 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 buying an additional 123,029 shares during the last quarter. Jennison Associates LLC raised its position in shares of Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Netflix by 116,620.0% during 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 holdings 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 worth $3,473,571,000 after purchasing an additional 23,702 shares during the period. 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.