Netflix (NASDAQ:NFLX) had its price target increased by research analysts at BTIG Research from $225.00 to $330.00 in a research note issued on Wednesday, MarketBeat reports. The firm currently has a “buy” rating on the Internet television network’s stock. BTIG Research’s target price points to a potential upside of 20.17% from the company’s current price.
Several other research firms have also issued reports on NFLX. BMO Capital Markets boosted their target price on shares of Netflix to $250.00 and gave the company a “market perform” rating in a report on Tuesday, January 23rd. Cowen restated a “buy” rating and issued a $275.00 target price on shares of Netflix in a report on Tuesday, January 23rd. Citigroup restated a “hold” rating and issued a $250.00 target price on shares of Netflix in a report on Tuesday, January 23rd. Oppenheimer restated a “buy” rating and issued a $285.00 target price on shares of Netflix in a report on Tuesday, January 23rd. Finally, Atlantic Securities set a $303.00 target price on shares of Netflix and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and thirty-five have given a buy rating to the company’s stock. Netflix presently has an average rating of “Buy” and an average target price of $235.36.
Netflix (NASDAQ NFLX) traded up $4.90 during trading on Wednesday, reaching $274.60. The company had a trading volume of 11,020,000 shares, compared to its average volume of 8,870,000. Netflix has a fifty-two week low of $138.26 and a fifty-two week high of $274.60. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.40 and a quick ratio of 1.20. The company has a market capitalization of $118,830.00, a PE ratio of 219.68, a P/E/G ratio of 3.85 and a beta of 1.34.
In related news, Director Richard N. Barton sold 350 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $263.00, for a total value of $92,050.00. Following the completion of the transaction, the director now directly owns 7,332 shares of the company’s stock, valued at approximately $1,928,316. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Reed Hastings sold 91,861 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $189.03, for a total transaction of $17,364,484.83. Following the completion of the transaction, the chief executive officer now directly owns 91,861 shares of the company’s stock, valued at $17,364,484.83. The disclosure for this sale can be found here. Insiders have sold a total of 344,498 shares of company stock valued at $70,176,140 over the last three months. Insiders own 4.90% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its holdings in Netflix by 5.0% in the third quarter. Bank of New York Mellon Corp now owns 3,638,317 shares of the Internet television network’s stock worth $659,809,000 after buying an additional 172,229 shares during the last quarter. Tybourne Capital Management HK Ltd. raised its position in shares of Netflix by 3.6% in the 2nd quarter. Tybourne Capital Management HK Ltd. now owns 2,400,536 shares of the Internet television network’s stock valued at $358,664,000 after purchasing an additional 84,341 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Netflix by 3,478.1% in the 2nd quarter. Janus Henderson Group PLC now owns 2,041,458 shares of the Internet television network’s stock valued at $305,014,000 after purchasing an additional 1,984,404 shares during the last quarter. Legal & General Group Plc raised its position in shares of Netflix by 3.3% in the 3rd quarter. Legal & General Group Plc now owns 1,855,088 shares of the Internet television network’s stock valued at $336,420,000 after purchasing an additional 58,691 shares during the last quarter. Finally, Swiss National Bank raised its position in shares of Netflix by 1.0% in the 3rd quarter. Swiss National Bank now owns 1,588,825 shares of the Internet television network’s stock valued at $288,133,000 after purchasing an additional 16,300 shares during the last quarter. 83.27% of the stock is owned by institutional investors.
About Netflix
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.
