The Goldman Sachs Group Boosts Netflix (NASDAQ:NFLX) Price Target to $1,140.00

Netflix (NASDAQ:NFLX - Get Free Report) had its target price upped by stock analysts at The Goldman Sachs Group from $1,000.00 to $1,140.00 in a note issued to investors on Wednesday, Marketbeat reports. The brokerage presently has a "neutral" rating on the Internet television network's stock. The Goldman Sachs Group's target price would indicate a potential downside of 11.27% from the stock's current price.

NFLX has been the subject of a number of other research reports. Jefferies Financial Group boosted their price target on Netflix from $1,200.00 to $1,400.00 and gave the stock a "buy" rating in a research report on Tuesday, June 3rd. UBS Group boosted their price objective on shares of Netflix from $1,150.00 to $1,450.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Cfra Research raised shares of Netflix to a "strong-buy" rating in a research report on Monday, April 28th. Phillip Securities raised Netflix from a "moderate sell" rating to a "hold" rating in a report on Monday, April 21st. Finally, Wedbush reissued an "outperform" rating and issued a $1,200.00 price objective on shares of Netflix in a research report on Monday, May 5th. Eleven research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,182.58.

Netflix Stock Down 0.7%

Shares of NFLX stock traded down $8.74 during trading on Wednesday, hitting $1,284.86. 3,045,565 shares of the company were exchanged, compared to its average volume of 3,753,798. The firm has a market capitalization of $546.80 billion, a price-to-earnings ratio of 60.72, a P/E/G ratio of 2.59 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20. The business's 50-day simple moving average is $1,195.33 and its 200 day simple moving average is $1,029.66. Netflix has a twelve month low of $587.04 and a twelve month high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping the consensus estimate of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same period in the prior year, the firm posted $8.28 EPS. As a group, analysts forecast that Netflix will post 24.58 EPS for the current fiscal year.

Insider Activity

In related news, Director Reed Hastings sold 26,977 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $1,133.05, for a total value of $30,566,289.85. Following the completion of the transaction, the director directly owned 394 shares of the company's stock, valued at approximately $446,421.70. This trade represents a 98.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bradford L. Smith sold 3,919 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the transaction, the director owned 7,969 shares in the company, valued at $8,959,227.94. This represents a 32.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 157,319 shares of company stock worth $184,842,109. 1.37% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fullcircle Wealth LLC grew its holdings in shares of Netflix by 2.5% during the 1st quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock worth $344,000 after purchasing an additional 9 shares in the last quarter. Capital Analysts LLC boosted its stake in shares of Netflix by 0.3% during the first quarter. Capital Analysts LLC now owns 2,620 shares of the Internet television network's stock valued at $2,443,000 after purchasing an additional 9 shares in the last quarter. Enterprise Financial Services Corp grew its holdings in shares of Netflix by 1.8% during the first quarter. Enterprise Financial Services Corp now owns 505 shares of the Internet television network's stock worth $471,000 after purchasing an additional 9 shares during the last quarter. Warwick Investment Management Inc. grew its holdings in shares of Netflix by 3.5% during the fourth quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network's stock worth $266,000 after purchasing an additional 10 shares during the last quarter. Finally, MRP Capital Investments LLC raised its holdings in Netflix by 1.0% in the 4th quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network's stock valued at $938,000 after buying an additional 10 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Company Profile

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.