JPMorgan Chase & Co. Lowers Netflix (NASDAQ:NFLX) Price Target to $1,025.00

Netflix (NASDAQ:NFLX) had its target price reduced by JPMorgan Chase & Co. from $1,150.00 to $1,025.00 in a research report issued to clients and investors on Tuesday,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 8.41% from the company’s current price.

NFLX has been the topic of a number of other reports. BMO Capital Markets restated an “outperform” rating and issued a $1,175.00 price target (up from $1,000.00) on shares of Netflix in a research note on Wednesday, January 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $1,100.00 price target (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Guggenheim restated a “buy” rating and issued a $1,100.00 price target on shares of Netflix in a research note on Thursday, April 3rd. Barclays upgraded shares of Netflix from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $715.00 to $900.00 in a research report on Wednesday, January 22nd. Finally, UBS Group set a $1,000.00 price objective on shares of Netflix in a research note on Monday, March 24th. Ten investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,017.31.

Netflix Trading Up 8.6 %

Shares of NASDAQ NFLX opened at $945.47 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market cap of $404.43 billion, a price-to-earnings ratio of 47.68, a PEG ratio of 2.12 and a beta of 1.55. The business’s 50 day moving average price is $962.78 and its 200-day moving average price is $881.51. Netflix has a fifty-two week low of $542.01 and a fifty-two week high of $1,064.50.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating the consensus estimate of $4.20 by $0.07. The firm had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. Netflix’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.11 EPS. On average, sell-side analysts expect that Netflix will post 24.58 earnings per share for the current year.

Insider Buying and Selling at Netflix

In related news, Chairman Reed Hastings sold 25,360 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total value of $23,360,364.00. Following the sale, the chairman now owns 394 shares in the company, valued at approximately $362,933.10. The trade was a 98.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gregory K. Peters sold 4,939 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the completion of the sale, the chief executive officer now owns 12,950 shares in the company, valued at $13,338,500. This represents a 27.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 274,312 shares of company stock worth $267,919,297 over the last quarter. 1.76% of the stock is currently owned by company insiders.

Institutional Trading of Netflix

Large investors have recently made changes to their positions in the company. Pathway Financial Advisers LLC raised its stake in Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 14 shares during the last quarter. Brown Shipley& Co Ltd purchased a new stake in Netflix during the 4th quarter valued at approximately $27,000. Transce3nd LLC purchased a new stake in Netflix during the 4th quarter valued at approximately $32,000. Newton One Investments LLC purchased a new stake in Netflix during the 4th quarter valued at approximately $34,000. Finally, Pineridge Advisors LLC raised its stake in Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after acquiring an additional 40 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

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.