Netflix (NASDAQ:NFLX) Given New $1,040.00 Price Target at Argus

Netflix (NASDAQ:NFLX) had its price objective lifted by stock analysts at Argus from $840.00 to $1,040.00 in a report issued on Monday,Briefing.com Automated Import reports. The firm currently has a “buy” rating on the Internet television network’s stock. Argus’ price objective points to a potential upside of 18.04% from the stock’s current price.

NFLX has been the topic of several other reports. Barclays reaffirmed an “underweight” rating and set a $550.00 target price on shares of Netflix in a research report on Friday, October 18th. Benchmark upped their price objective on shares of Netflix from $555.00 to $720.00 and gave the company a “sell” rating in a report on Friday. JPMorgan Chase & Co. lifted their target price on shares of Netflix from $850.00 to $1,010.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. KeyCorp upped their price target on shares of Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Finally, Rosenblatt Securities lifted their price objective on shares of Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $821.27.

Netflix Stock Performance

NFLX stock opened at $881.05 on Monday. The firm has a 50-day simple moving average of $866.57 and a two-hundred day simple moving average of $746.99. 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 has a one year low of $466.53 and a one year high of $941.75. The firm has a market cap of $376.61 billion, a price-to-earnings ratio of 49.86, a PEG ratio of 1.77 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating the consensus estimate of $5.09 by $0.31. The company 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%. On average, equities analysts forecast that Netflix will post 19.78 EPS for the current fiscal year.

Insider Transactions at Netflix

In other news, Director Anne M. Sweeney sold 589 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total value of $518,320.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Reed Hastings sold 35,868 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were 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 approximately $101,241.12. This represents a 99.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 150,761 shares of company stock valued at $125,713,484 over the last 90 days. Corporate insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

A number of large investors have recently made changes to their positions in NFLX. Strategic Financial Concepts LLC increased its position in Netflix by 58,624.5% during the second quarter. Strategic Financial Concepts LLC now owns 213,757 shares of the Internet television network’s stock worth $1,443,000 after purchasing an additional 213,393 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Netflix by 142.3% during the 2nd quarter. Acadian Asset Management LLC now owns 55,345 shares of the Internet television network’s stock worth $37,346,000 after buying an additional 32,505 shares during the last quarter. Stonekeep Investments LLC purchased a new stake in shares of Netflix during the 2nd quarter valued at approximately $585,000. NRI Wealth Management LC acquired a new position in Netflix in the second quarter valued at approximately $2,320,000. Finally, Fox Hill Wealth Management grew its position in Netflix by 32.6% in the second quarter. Fox Hill Wealth Management now owns 5,493 shares of the Internet television network’s stock worth $3,707,000 after acquiring an additional 1,350 shares during the period. 80.93% of the stock is currently owned by hedge funds and other 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.