Netflix (NASDAQ:NFLX) Given Outperform Rating at Wedbush

Wedbush reiterated their outperform rating on shares of Netflix (NASDAQ:NFLX) in a report released on Wednesday,RTT News reports. Wedbush currently has a $1,150.00 price objective on the Internet television network’s stock, up from their prior price objective of $950.00.

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. boosted their price objective on Netflix from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Wednesday. Robert W. Baird boosted their price target on Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Wednesday. Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a research note on Friday, October 18th. The Goldman Sachs Group lifted their price objective on Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Jefferies Financial Group upped their price target on shares of Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Nine research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $993.82.

Netflix Stock Up 9.7 %

NFLX stock opened at $953.99 on Wednesday. The firm has a 50-day moving average price of $886.64 and a 200-day moving average price of $762.07. Netflix has a 12 month low of $481.40 and a 12 month high of $999.00. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $407.79 billion, a P/E ratio of 48.11, a price-to-earnings-growth ratio of 1.41 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10,141,900 billion. Netflix had a net margin of 22.34% and a return on equity of 39.48%. The firm’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.11 EPS. As a group, equities research analysts anticipate that Netflix will post 23.43 EPS for the current fiscal year.

Insider Transactions at Netflix

In other Netflix news, Director Richard N. Barton sold 5,698 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $756.00, for a total value of $4,307,688.00. Following the transaction, the director now directly owns 246 shares in the company, valued at $185,976. The trade was a 95.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the sale, the chairman now owns 114 shares of the company’s stock, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 152,198 shares of company stock worth $127,616,898 in the last 90 days. Insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Several hedge funds have recently made changes to their positions in the company. State Street Corp boosted its stake in 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 buying an additional 426,740 shares during the period. Geode Capital Management LLC boosted its stake in 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 worth $6,464,736,000 after buying an additional 123,029 shares in the last quarter. Jennison Associates LLC boosted its stake 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 in the last quarter. International Assets Investment Management LLC grew its stake 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 grew its position 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 worth $3,473,571,000 after acquiring an additional 23,702 shares during the last quarter. 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.