Oppenheimer Lowers Netflix (NASDAQ:NFLX) Price Target to $1,040.00

Netflix (NASDAQ:NFLX) had its price objective lowered by Oppenheimer from $1,065.00 to $1,040.00 in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. The firm currently has an outperform rating on the Internet television network’s stock.

Several other research firms have also recently commented on NFLX. Evercore ISI raised their target price on shares of Netflix from $775.00 to $950.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Morgan Stanley raised their price objective on shares of Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Loop Capital lowered Netflix from a “buy” rating to a “hold” rating and lifted their price objective for the company from $800.00 to $950.00 in a report on Monday, December 16th. Sanford C. Bernstein increased their target price on Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company lifted their price target on Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $845.06.

Netflix Stock Up 1.9 %

NFLX opened at $858.10 on Wednesday. Netflix has a 52 week low of $476.06 and a 52 week high of $941.75. The business has a 50 day moving average price of $883.32 and a two-hundred day moving average price of $757.20. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The company has a market cap of $366.80 billion, a PE ratio of 48.56, a P/E/G ratio of 1.35 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The business had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. As a group, research analysts anticipate that Netflix will post 19.78 EPS for the current year.

Insider Activity at Netflix

In related news, CEO Theodore A. Sarandos sold 1,278 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $767.05, for a total value of $980,289.90. Following the completion of the transaction, the chief executive officer now directly owns 2,556 shares in the company, valued at approximately $1,960,579.80. This represents a 33.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Anne M. Sweeney sold 589 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 152,198 shares of company stock valued at $127,616,898. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

A number of institutional investors have recently bought and sold shares of NFLX. WealthPLAN Partners LLC grew its stake in shares of Netflix by 7.6% during the 2nd quarter. WealthPLAN Partners LLC now owns 943 shares of the Internet television network’s stock valued at $636,000 after buying an additional 67 shares during the period. Bradley Foster & Sargent Inc. CT boosted its holdings in Netflix by 55.1% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 1,556 shares of the Internet television network’s stock valued at $1,050,000 after acquiring an additional 553 shares during the last quarter. E Fund Management Co. Ltd. grew its position in Netflix by 3.9% during the second quarter. E Fund Management Co. Ltd. now owns 6,378 shares of the Internet television network’s stock valued at $4,304,000 after acquiring an additional 239 shares during the period. Meridian Wealth Partners LLC increased its stake in Netflix by 6.9% during the second quarter. Meridian Wealth Partners LLC now owns 356 shares of the Internet television network’s stock worth $240,000 after acquiring an additional 23 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its holdings in shares of Netflix by 6.3% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 81,691 shares of the Internet television network’s stock worth $55,132,000 after purchasing an additional 4,831 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

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.