Netflix (NASDAQ:NFLX) Price Target Cut to $1,040.00 by Analysts at Oppenheimer

Netflix (NASDAQ:NFLX) had its target price lowered by Oppenheimer from $1,065.00 to $1,040.00 in a report published on Wednesday, Marketbeat Ratings reports. The firm currently has an outperform rating on the Internet television network’s stock.

Several other brokerages also recently weighed in on NFLX. TD Cowen raised their target price on Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Rosenblatt Securities increased their price objective on shares of Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. UBS Group boosted their target price on shares of Netflix from $825.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Loop Capital cut Netflix from a “buy” rating to a “hold” rating and increased their price target for the stock from $800.00 to $950.00 in a research report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $845.82.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $848.26 on Wednesday. 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 has a 1-year low of $475.26 and a 1-year high of $941.75. The company has a market capitalization 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 business has a 50-day moving average of $881.04 and a 200-day moving average of $755.96.

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

Insiders Place Their Bets

In other news, CEO Theodore A. Sarandos sold 1,278 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $767.05, for a total transaction of $980,289.90. Following the transaction, the chief executive officer now owns 2,556 shares in the company, valued at approximately $1,960,579.80. This trade represents a 33.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory K. Peters sold 4,186 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $750.00, for a total transaction of $3,139,500.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $9,817,500. This represents a 24.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 156,742 shares of company stock valued at $131,030,268 in the last three months. Insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Institutional investors and hedge funds have recently made changes to their positions in the stock. DigitalBridge Group Inc. increased its holdings in shares of Netflix by 35.5% during the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after acquiring an additional 9,451 shares during the last quarter. Nordea Investment Management AB boosted its position in Netflix by 22.7% during the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after purchasing an additional 156,958 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in 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 valued at $1,829,494,000 after purchasing an additional 29,726 shares during the last quarter. Natixis Advisors LLC lifted its stake in shares of Netflix by 2.0% in the third quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock worth $434,398,000 after buying an additional 11,921 shares during the last quarter. Finally, M&T Bank Corp boosted its holdings in shares of Netflix by 4.2% during the 3rd quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after buying an additional 1,684 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

About Netflix

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.