Netflix (NASDAQ:NFLX) Given New $1,010.00 Price Target at JPMorgan Chase & Co.

Netflix (NASDAQ:NFLX) had its target price boosted by analysts at JPMorgan Chase & Co. from $850.00 to $1,010.00 in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. The brokerage currently has an “overweight” rating on the Internet television network’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 8.40% from the company’s current price.

A number of other equities research analysts also recently commented on the stock. Benchmark restated a “sell” rating and issued a $545.00 price objective on shares of Netflix in a research report on Tuesday, October 15th. Macquarie restated an “outperform” rating and issued a $795.00 price objective on shares of Netflix in a research report on Friday, October 18th. Jefferies Financial Group raised their price objective 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. Citigroup raised their price objective on shares of Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Finally, Wolfe Research restated an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $787.85.

Netflix Stock Performance

Shares of NASDAQ NFLX traded up $18.37 during midday trading on Wednesday, reaching $931.72. 516,931 shares of the company were exchanged, compared to its average volume of 3,620,255. 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 has a 1 year low of $459.20 and a 1 year high of $935.47. The stock has a fifty day simple moving average of $797.01 and a 200 day simple moving average of $712.57. The stock has a market cap of $398.27 billion, a P/E ratio of 52.73, a PEG ratio of 1.80 and a beta of 1.27.

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

Insider Buying and Selling

In other Netflix news, CEO Gregory K. Peters sold 4,392 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total value of $3,184,200.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares in the company, valued at approximately $9,490,250. This represents a 25.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Reed Hastings sold 48,363 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the transaction, the chairman now owns 114 shares of the company’s stock, valued at $102,212.40. This trade represents a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 209,155 shares of company stock worth $159,682,799 over the last quarter. 1.76% of the stock is owned by company insiders.

Institutional Investors Weigh In On Netflix

Several hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC grew its stake in Netflix by 116,620.0% in the 3rd 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. Assenagon Asset Management S.A. grew its stake in Netflix by 154.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after buying an additional 642,920 shares during the last quarter. State Street Corp grew its stake in Netflix by 2.6% in the 3rd 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 last quarter. Jennison Associates LLC grew its stake in 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 buying an additional 316,594 shares during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in Netflix in the 3rd quarter valued at $222,871,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

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.