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

Netflix (NASDAQ:NFLX) had its price objective lifted by Macquarie from $795.00 to $965.00 in a research note published on Monday morning,Benzinga reports. Macquarie currently has an outperform rating on the Internet television network’s stock.

A number of other research firms have also weighed in on NFLX. Pivotal Research raised their price objective on Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Bank of America lifted their price target on Netflix from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft upped their price target on shares of Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Oppenheimer raised their price objective on shares of Netflix from $825.00 to $1,065.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Netflix from $1,010.00 to $1,000.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $845.82.

Netflix Stock Up 2.4 %

Shares of Netflix stock opened at $848.26 on Monday. Netflix has a 1 year low of $475.26 and a 1 year high of $941.75. The firm has a market cap of $362.60 billion, a price-to-earnings ratio of 48.01, a PEG ratio of 1.35 and a beta of 1.27. The company has a 50-day moving average of $881.04 and a 200 day moving average of $755.96. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

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 analysts’ consensus estimates of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The business had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. As a group, sell-side analysts anticipate that Netflix will post 19.78 earnings per share for the current fiscal year.

Insider Activity at Netflix

In other Netflix news, CEO Gregory K. Peters sold 4,186 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $750.00, for a total transaction of $3,139,500.00. Following the sale, the chief executive officer now owns 13,090 shares in the company, valued at approximately $9,817,500. This trade represents a 24.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction that occurred on 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 directly owns 114 shares in the company, valued at $102,212.40. This represents a 99.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 156,742 shares of company stock worth $131,030,268. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Several institutional investors and hedge funds have recently modified their holdings of NFLX. State Street Corp boosted its holdings in Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after buying an additional 426,740 shares during the period. Geode Capital Management LLC lifted its position in shares of Netflix by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after acquiring an additional 123,029 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after acquiring an additional 316,594 shares during the period. International Assets Investment Management LLC grew its position 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 worth $4,080,522,000 after purchasing an additional 5,748,200 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Netflix by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after purchasing an additional 23,702 shares during the period. 80.93% of the stock is currently 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.