Netflix Inc. (NASDAQ:NFLX) shares were up 2.6% during trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $116.00 to $125.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Netflix traded as high as $97.64 and last traded at $97.00, with a volume of 6,584,704 shares trading hands. The stock had previously closed at $94.56.
NFLX has been the subject of a number of other research reports. Vetr raised Netflix from a “hold” rating to a “buy” rating and set a $102.90 price target for the company in a report on Tuesday, September 20th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Netflix in a report on Friday, September 9th. FBR & Co reaffirmed a “market perform” rating and set a $90.00 target price on shares of Netflix in a report on Thursday, September 15th. RBC Capital Markets reaffirmed an “outperform” rating and set a $130.00 target price on shares of Netflix in a report on Monday, August 29th. Finally, Jefferies Group reaffirmed an “underperform” rating and set a $76.00 target price on shares of Netflix in a report on Friday. Seven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $110.70.
In other Netflix news, Director Richard N. Barton sold 700 shares of the company’s stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $95.03, for a total transaction of $66,521.00. Following the completion of the sale, the director now owns 15,562 shares in the company, valued at approximately $1,478,856.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Reed Hastings sold 116,431 shares of the company’s stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $86.59, for a total transaction of $10,081,760.29. Following the sale, the chief executive officer now owns 116,431 shares of the company’s stock, valued at approximately $10,081,760.29. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of NFLX. Cornerstone Advisors Inc. boosted its stake in shares of Netflix by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,118 shares of the Internet television network’s stock valued at $102,000 after buying an additional 228 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Netflix during the second quarter valued at approximately $124,000. Quadrant Capital Group LLC boosted its stake in shares of Netflix by 15.1% in the second quarter. Quadrant Capital Group LLC now owns 1,475 shares of the Internet television network’s stock valued at $126,000 after buying an additional 194 shares during the last quarter. Coconut Grove Bank boosted its stake in shares of Netflix by 1.7% in the second quarter. Coconut Grove Bank now owns 1,526 shares of the Internet television network’s stock valued at $140,000 after buying an additional 26 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Netflix by 15.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,690 shares of the Internet television network’s stock valued at $155,000 after buying an additional 224 shares during the last quarter. Institutional investors own 78.43% of the company’s stock.
The firm has a market capitalization of $41.59 billion, a P/E ratio of 303.19 and a beta of 1.71. The company’s 50 day moving average is $96.70 and its 200 day moving average is $96.16.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Monday, July 18th. The Internet television network reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.07. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.11 billion. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter last year, the business posted $0.06 EPS. On average, equities analysts forecast that Netflix Inc. will post $0.29 earnings per share for the current fiscal year.
Netflix Company Profile
Netflix, Inc (Netflix) is a provider of Internet television network. The Company’s members can watch original series, documentaries and feature films in Internet-connected screen. The Company has three operating segments: Domestic streaming, International streaming and Domestic DVD. The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content.
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