Citigroup Raises Netflix (NASDAQ:NFLX) Price Target to $660.00

Netflix (NASDAQ:NFLX) had its price objective boosted by Citigroup from $555.00 to $660.00 in a report released on Monday, Marketbeat reports. The brokerage currently has a neutral rating on the Internet television network’s stock.

Other research analysts also recently issued research reports about the company. Piper Sandler boosted their target price on Netflix from $475.00 to $550.00 and gave the stock a neutral rating in a research note on Wednesday, January 24th. Evercore ISI upped their price objective on Netflix from $600.00 to $640.00 and gave the company an outperform rating in a research note on Thursday, March 14th. Wedbush upped their price objective on Netflix from $525.00 to $615.00 and gave the company an outperform rating in a research note on Wednesday, January 24th. StockNews.com raised Netflix from a hold rating to a buy rating in a research note on Monday, February 26th. Finally, KeyCorp upped their price objective on Netflix from $580.00 to $705.00 and gave the company an overweight rating in a research note on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $583.18.

Netflix Trading Down 2.5 %

NFLX opened at $613.53 on Monday. Netflix has a twelve month low of $315.62 and a twelve month high of $634.39. The company has a 50-day simple moving average of $579.15 and a 200 day simple moving average of $486.82. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $265.51 billion, a price-to-earnings ratio of 51.06, a P/E/G ratio of 1.70 and a beta of 1.22.

Netflix (NASDAQ:NFLX) last issued its earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 EPS for the quarter, missing the consensus estimate of $2.20 by ($0.09). The business had revenue of $8.83 billion for the quarter, compared to analyst estimates of $8.72 billion. Netflix had a return on equity of 24.76% and a net margin of 16.04%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.12 EPS. Analysts predict that Netflix will post 17.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other Netflix news, CEO Gregory K. Peters sold 5,352 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $625.00, for a total transaction of $3,345,000.00. Following the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $8,181,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Theodore A. Sarandos sold 68,957 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $561.33, for a total value of $38,707,632.81. Following the transaction, the chief executive officer now directly owns 1,278 shares in the company, valued at approximately $717,379.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Gregory K. Peters sold 5,352 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $625.00, for a total value of $3,345,000.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares in the company, valued at $8,181,250. The disclosure for this sale can be found here. In the last three months, insiders have sold 273,767 shares of company stock worth $151,298,232. Corporate insiders own 2.45% of the company’s stock.

Hedge Funds Weigh In On Netflix

A number of large investors have recently modified their holdings of the company. Norges Bank bought a new position in Netflix in the 4th quarter worth about $2,558,598,000. Wellington Management Group LLP boosted its stake in Netflix by 540.9% in the 4th quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after purchasing an additional 3,273,592 shares during the period. Moneta Group Investment Advisors LLC boosted its stake in Netflix by 117,939.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,742,048 shares of the Internet television network’s stock worth $808,575,000 after purchasing an additional 2,739,725 shares during the period. International Assets Investment Management LLC boosted its stake in Netflix by 15,039.1% in the 4th quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock worth $1,010,553,000 after purchasing an additional 2,061,859 shares during the period. Finally, Jennison Associates LLC boosted its stake in Netflix by 40.6% in the 4th quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after purchasing an additional 1,573,978 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.