Netflix (NASDAQ:NFLX) had its target price hoisted by Guggenheim from $285.00 to $360.00 in a report issued on Wednesday. The firm presently has a “buy” rating on the Internet television network’s stock. Guggenheim’s price objective suggests a potential upside of 12.59% from the stock’s current price.
A number of other analysts have also recently commented on the stock. Piper Jaffray Companies increased their price target on shares of Netflix to $360.00 and gave the company an “overweight” rating in a research note on Friday, March 9th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $340.00 price target (up previously from $302.00) on shares of Netflix in a research note on Friday, March 9th. Stifel Nicolaus cut shares of Netflix from a “buy” rating to a “hold” rating and increased their price target for the company from $283.00 to $325.00 in a research note on Tuesday, March 6th. Macquarie increased their price target on shares of Netflix from $275.00 to $330.00 and gave the company an “outperform” rating in a research note on Monday, March 5th. Finally, UBS Group increased their price target on shares of Netflix from $290.00 to $345.00 and gave the company a “buy” rating in a research note on Monday, March 5th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the company. Netflix currently has a consensus rating of “Buy” and a consensus price target of $247.49.
Shares of Netflix (NASDAQ NFLX) traded up $3.86 during mid-day trading on Wednesday, reaching $319.74. 5,240,000 shares of the company’s stock were exchanged, compared to its average volume of 11,590,000. The firm has a market capitalization of $138,750.00, a PE ratio of 223.59, a P/E/G ratio of 4.41 and a beta of 0.95. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.81. Netflix has a 12-month low of $138.66 and a 12-month high of $333.98.
In other news, insider Theodore A. Sarandos sold 163,747 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $262.91, for a total value of $43,050,723.77. Following the sale, the insider now directly owns 23,953 shares in the company, valued at approximately $6,297,483.23. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Reed Hastings sold 91,861 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $189.03, for a total transaction of $17,364,484.83. Following the completion of the sale, the chief executive officer now owns 91,861 shares in the company, valued at $17,364,484.83. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 473,489 shares of company stock worth $116,251,464. 4.90% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. boosted its position in Netflix by 4.1% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 46,013 shares of the Internet television network’s stock worth $8,833,000 after buying an additional 1,801 shares during the period. Certified Advisory Corp acquired a new stake in Netflix during the 4th quarter worth approximately $378,000. Wagner Wealth Management LLC acquired a new stake in Netflix during the 4th quarter worth approximately $125,000. D.B. Root & Company LLC acquired a new stake in Netflix during the 4th quarter worth approximately $994,000. Finally, Xact Kapitalforvaltning AB boosted its position in Netflix by 9.4% during the 4th quarter. Xact Kapitalforvaltning AB now owns 76,669 shares of the Internet television network’s stock worth $14,717,000 after buying an additional 6,602 shares during the period. Institutional investors own 81.64% of the company’s stock.
Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.
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