Netflix’s (NFLX) Overweight Rating Reiterated at JPMorgan Chase & Co.

by · The Cerbat Gem

Netflix (NASDAQ:NFLX – Get Free Report)‘s stock had its “overweight” rating reaffirmed by research analysts at JPMorgan Chase & Co. in a report released on Tuesday, Benzinga reports. They presently have a $750.00 price target on the Internet television network’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 3.10% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $700.00 price target on shares of Netflix in a research note on Friday, July 19th. Citigroup lifted their price objective on shares of Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. The Goldman Sachs Group increased their price target on shares of Netflix from $650.00 to $659.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Bank of America upped their price objective on shares of Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, UBS Group raised their price target on Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $694.71.

View Our Latest Stock Analysis on NFLX

Netflix Stock Up 0.8 %

Shares of NASDAQ NFLX opened at $727.43 on Tuesday. Netflix has a 52-week low of $344.73 and a 52-week high of $728.59. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. The company’s 50-day simple moving average is $680.33 and its 200-day simple moving average is $649.42. The firm has a market cap of $313.52 billion, a price-to-earnings ratio of 50.48, a price-to-earnings-growth ratio of 1.44 and a beta of 1.26.

Netflix (NASDAQ:NFLX – Get Free Report) last issued its earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The business had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.29 earnings per share. Equities analysts predict that Netflix will post 19.08 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Reed Hastings sold 45,290 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total value of $31,981,986.40. Following the sale, the chairman now owns 85 shares in the company, valued at approximately $60,023.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Chairman Reed Hastings sold 45,290 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total value of $31,981,986.40. Following the sale, the chairman now owns 85 shares of the company’s stock, valued at $60,023.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 224,784 shares of company stock valued at $150,212,870. Corporate insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NFLX. Denver PWM LLC acquired a new position in Netflix in the second quarter worth approximately $25,000. Valued Wealth Advisors LLC grew its stake in shares of Netflix by 80.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after buying an additional 20 shares in the last quarter. Proffitt & Goodson Inc. grew its position in Netflix by 380.0% in the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 38 shares in the last quarter. AlphaMark Advisors LLC raised its holdings in shares of Netflix by 642.9% during the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after purchasing an additional 45 shares in the last quarter. Finally, Indiana Trust & Investment Management CO lifted its stake in shares of Netflix by 112.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 28 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

About Netflix

(Get Free Report)

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.

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