Netflix (NASDAQ:NFLX) had its price objective lifted by equities researchers at Guggenheim from $285.00 to $360.00 in a report issued on Wednesday. The brokerage presently has a “buy” rating on the Internet television network’s stock. Guggenheim’s price target indicates a potential upside of 11.69% from the company’s current price.
Several other brokerages have also recently issued reports on NFLX. Piper Jaffray Companies boosted their price objective 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 reissued an “outperform” rating and set a $340.00 price objective (up 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 boosted their price objective for the company from $283.00 to $325.00 in a research note on Tuesday, March 6th. UBS Group boosted their price objective 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. Finally, Macquarie boosted their price objective 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. Four equities research 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 assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $247.49.
Shares of Netflix (NFLX) traded up $6.44 during mid-day trading on Wednesday, hitting $322.32. The stock had a trading volume of 6,295,772 shares, compared to its average volume of 11,287,638. The firm has a market cap of $138,750.00, a PE ratio of 225.40, a PEG ratio of 4.41 and a beta of 0.95. Netflix has a fifty-two week low of $138.66 and a fifty-two week high of $333.98. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.81.
In related news, insider Theodore A. Sarandos sold 163,747 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $262.91, for a total transaction of $43,050,723.77. Following the sale, the insider now owns 23,953 shares in the company, valued at $6,297,483.23. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Reed Hastings sold 91,861 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 91,861 shares in the company, valued at approximately $17,364,484.83. The disclosure for this sale can be found here. In the last quarter, insiders have sold 473,489 shares of company stock worth $116,251,464. 4.90% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Balentine LLC boosted its holdings in Netflix by 1,020.4% during the third quarter. Balentine LLC now owns 549 shares of the Internet television network’s stock worth $100,000 after buying an additional 500 shares in the last quarter. James Hambro & Partners bought a new stake in shares of Netflix during the 4th quarter worth $106,000. Wagner Wealth Management LLC bought a new stake in shares of Netflix during the 4th quarter worth $125,000. Duncker Streett & Co. Inc. raised its stake in shares of Netflix by 47.1% during the 4th quarter. Duncker Streett & Co. Inc. now owns 625 shares of the Internet television network’s stock worth $120,000 after purchasing an additional 200 shares during the period. Finally, Crewe Advisors LLC bought a new stake in shares of Netflix during the 4th quarter worth $149,000. Hedge funds and other institutional investors own 81.64% of the company’s stock.
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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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