Netflix (NASDAQ:NFLX) Given New $950.00 Price Target at Guggenheim

Netflix (NASDAQ:NFLX) had its price target raised by Guggenheim from $825.00 to $950.00 in a research report released on Monday morning,Benzinga reports. They currently have a buy rating on the Internet television network’s stock.

A number of other research analysts have also issued reports on NFLX. KeyCorp increased their target price on shares of Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Oppenheimer increased their price target on Netflix from $825.00 to $1,065.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Canaccord Genuity Group lifted their price objective on Netflix from $760.00 to $940.00 and gave the company a “hold” rating in a report on Monday, December 2nd. Piper Sandler reissued an “overweight” rating and set a $840.00 target price (up from $800.00) on shares of Netflix in a report on Friday, October 18th. Finally, Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $845.82.

Netflix Stock Performance

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

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $9.77 billion. Research analysts anticipate that Netflix will post 19.78 earnings per share for the current year.

Insider Buying and Selling at Netflix

In related news, CEO Gregory K. Peters sold 4,186 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $750.00, for a total value of $3,139,500.00. Following the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $9,817,500. The trade was a 24.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Leslie J. Kilgore sold 358 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $765.00, for a total value of $273,870.00. Following the transaction, the director now directly owns 35,262 shares of the company’s stock, valued at approximately $26,975,430. This represents a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 156,742 shares of company stock worth $131,030,268. 1.76% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Netflix

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp raised its holdings in Netflix by 2.6% during 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 purchasing an additional 426,740 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Netflix by 1.4% in the 3rd 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 purchasing an additional 123,029 shares during 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 during the last quarter. International Assets Investment Management LLC increased 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 buying an additional 5,748,200 shares during the period. Finally, Wellington Management Group LLP raised its stake in Netflix by 0.5% during the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after buying an additional 23,702 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

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.