Netflix (NASDAQ:NFLX) Given New $1,000.00 Price Target at Loop Capital

Netflix (NASDAQ:NFLX) had its target price raised by Loop Capital from $925.00 to $1,000.00 in a research report sent to investors on Wednesday,Benzinga reports. Loop Capital currently has a hold rating on the Internet television network’s stock.

Several other brokerages also recently commented on NFLX. StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a research report on Saturday, December 21st. Needham & Company LLC increased their target price on Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a report on Wednesday. BMO Capital Markets reaffirmed an “outperform” rating and issued a $1,175.00 target price (up previously from $1,000.00) on shares of Netflix in a research report on Wednesday. Jefferies Financial Group upped their price target on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Wolfe Research restated an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. Nine research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and an average price target of $993.82.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $953.99 on Wednesday. The company has a market capitalization of $407.79 billion, a PE ratio of 48.11, a price-to-earnings-growth ratio of 1.41 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a fifty day moving average of $886.64 and a 200-day moving average of $762.07. Netflix has a one year low of $481.40 and a one year high of $999.00.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10,141,900 billion. Netflix had a return on equity of 39.48% and a net margin of 22.34%. Netflix’s revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.11 earnings per share. As a group, equities analysts anticipate that Netflix will post 23.43 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, 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 value of $43,362,265.80. Following the transaction, the chairman now directly owns 114 shares in the company, valued at $102,212.40. This represents a 99.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard N. Barton sold 5,698 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $756.00, for a total value of $4,307,688.00. Following the completion of the transaction, the director now directly owns 246 shares in the company, valued at $185,976. The trade was a 95.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 152,198 shares of company stock worth $127,616,898 over the last quarter. Company insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several institutional investors and hedge funds have recently modified their holdings of NFLX. DigitalBridge Group Inc. lifted its stake in Netflix by 35.5% in the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after acquiring an additional 9,451 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Netflix by 22.7% in the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after buying an additional 156,958 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Netflix by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock valued at $1,829,494,000 after buying an additional 29,726 shares in the last quarter. Natixis Advisors LLC grew its position in shares of Netflix by 2.0% in the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock valued at $434,398,000 after acquiring an additional 11,921 shares during the period. Finally, M&T Bank Corp lifted its stake in Netflix by 4.2% in the 3rd quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after purchasing an additional 1,684 shares during the last quarter. 80.93% of the stock is currently 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.