JPMorgan Chase & Co. Issues Pessimistic Forecast for Netflix (NASDAQ:NFLX) Stock Price

Netflix (NASDAQ:NFLX) had its target price lowered by equities research analysts at JPMorgan Chase & Co. from $1,010.00 to $1,000.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the Internet television network’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 19.03% from the stock’s current price.

NFLX has been the topic of a number of other research reports. Pivotal Research upped their price target on shares of Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research note on Saturday, December 21st. Evercore ISI boosted their price target on Netflix from $775.00 to $950.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Piper Sandler restated an “overweight” rating and issued a $840.00 price objective (up from $800.00) on shares of Netflix in a research note on Friday, October 18th. Finally, The Goldman Sachs Group lifted their target price on Netflix from $750.00 to $850.00 and gave the stock a “neutral” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $824.00.

Netflix Stock Down 4.0 %

NASDAQ NFLX traded down $34.86 on Friday, reaching $840.14. 1,798,484 shares of the stock traded hands, compared to its average volume of 2,571,448. Netflix has a 12 month low of $475.26 and a 12 month high of $941.75. The company has a market cap of $359.12 billion, a price-to-earnings ratio of 47.55, a PEG ratio of 1.77 and a beta of 1.27. The company has a fifty day moving average price of $876.43 and a 200-day moving average price of $751.52. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. As a group, research analysts forecast that Netflix will post 19.78 EPS for the current fiscal year.

Insider Transactions at Netflix

In other Netflix news, Director Richard N. Barton sold 6,364 shares of Netflix stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the transaction, the director now owns 246 shares of the company’s stock, valued at $216,327.48. The trade was a 96.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Gregory K. Peters sold 4,186 shares of the 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 sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $9,817,500. This represents a 24.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 156,742 shares of company stock valued at $131,030,268. 1.76% of the stock is currently owned by corporate insiders.

Institutional Trading of Netflix

A number of institutional investors have recently modified their holdings of NFLX. Hilltop National Bank grew its holdings in shares of Netflix by 2.6% in the 4th quarter. Hilltop National Bank now owns 3,609 shares of the Internet television network’s stock worth $3,217,000 after acquiring an additional 92 shares during the period. Baker Tilly Wealth Management LLC grew its holdings in Netflix by 5.0% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 3,376 shares of the Internet television network’s stock valued at $3,009,000 after purchasing an additional 161 shares during the last quarter. Watts Gwilliam & Co. LLC increased its position in shares of Netflix by 10.1% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 5,120 shares of the Internet television network’s stock valued at $4,501,000 after buying an additional 471 shares in the last quarter. Legacy Private Trust Co. increased its position in shares of Netflix by 2.4% in the fourth quarter. Legacy Private Trust Co. now owns 3,274 shares of the Internet television network’s stock valued at $2,918,000 after buying an additional 78 shares in the last quarter. Finally, Farmers Trust Co. acquired a new position in shares of Netflix during the 4th quarter worth $202,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

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.