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

Netflix (NASDAQ:NFLX) had its price target decreased by JPMorgan Chase & Co. from $1,150.00 to $1,025.00 in a report released on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the Internet television network’s stock.

Several other equities research analysts also recently weighed in on NFLX. Rosenblatt Securities raised Netflix from a “neutral” rating to a “buy” rating and raised their price target for the stock from $680.00 to $1,494.00 in a report on Wednesday, January 22nd. KeyCorp boosted their target price on shares of Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Piper Sandler restated an “overweight” rating and set a $1,100.00 price target (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Macquarie lifted their price objective on shares of Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Finally, Guggenheim reissued a “buy” rating and issued a $1,100.00 target price on shares of Netflix in a research report on Thursday, April 3rd. Ten analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,017.31.

Netflix Stock Performance

NFLX stock opened at $921.17 on Tuesday. The firm has a 50-day simple moving average of $961.62 and a two-hundred day simple moving average of $882.89. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. Netflix has a one year low of $542.01 and a one year high of $1,064.50. The firm has a market cap of $394.04 billion, a price-to-earnings ratio of 46.45, a PEG ratio of 2.12 and a beta of 1.55.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. Netflix’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.11 earnings per share. On average, equities analysts forecast that Netflix will post 24.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jay C. Hoag sold 617 shares of Netflix stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total value of $604,481.07. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider David A. Hyman sold 41,121 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $979.01, for a total value of $40,257,870.21. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $30,946,506.10. This represents a 56.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 274,312 shares of company stock worth $267,919,297. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

A number of large investors have recently modified their holdings of the business. West Michigan Advisors LLC grew its stake in Netflix by 1.3% during the 4th quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock valued at $692,000 after acquiring an additional 10 shares in the last quarter. Warwick Investment Management Inc. increased its holdings in shares of Netflix by 3.5% in the fourth quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network’s stock valued at $266,000 after purchasing an additional 10 shares during the last quarter. MRP Capital Investments LLC lifted its position in Netflix by 1.0% during the fourth quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network’s stock worth $938,000 after buying an additional 10 shares in the last quarter. Bedell Frazier Investment Counselling LLC boosted its stake in Netflix by 2.2% during the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network’s stock worth $412,000 after buying an additional 10 shares during the last quarter. Finally, Mission Creek Capital Partners Inc. grew its holdings in Netflix by 0.3% in the 4th quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network’s stock valued at $3,410,000 after buying an additional 10 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

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.