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

Netflix (NASDAQ:NFLX) had its price target boosted by The Goldman Sachs Group from $1,000.00 to $1,140.00 in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage currently has a neutral rating on the Internet television network’s stock.

A number of other research firms have also recently issued reports on NFLX. Rosenblatt Securities raised their price target on shares of Netflix from $1,494.00 to $1,514.00 and gave the stock a “buy” rating in a report on Monday, April 21st. Loop Capital reaffirmed a “hold” rating on shares of Netflix in a report on Monday, March 24th. Benchmark reaffirmed a “hold” rating on shares of Netflix in a report on Monday, April 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,126.00 price target on shares of Netflix in a report on Thursday, April 17th. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of Netflix in a report on Thursday, May 15th. Eleven investment 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 MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,182.58.

Netflix Trading Up 0.8%

NASDAQ:NFLX opened at $1,295.24 on Wednesday. Netflix has a 52 week low of $587.04 and a 52 week high of $1,341.15. The firm has a 50 day moving average of $1,207.87 and a 200 day moving average of $1,036.59. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $551.21 billion, a price-to-earnings ratio of 61.21, a PEG ratio of 2.35 and a beta of 1.59.

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

Insider Activity at Netflix

In other news, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $1,307.22, for a total value of $3,400,079.22. Following the sale, the chief financial officer owned 3,691 shares in the company, valued at $4,824,949.02. This trade represents a 41.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ann Mather sold 1,090 shares of Netflix stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,250.00, for a total transaction of $1,362,500.00. The disclosure for this sale can be found here. Insiders have sold 186,723 shares of company stock valued at $223,307,201 in the last quarter. 1.37% of the stock is currently owned by insiders.

Institutional Trading of Netflix

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Netflix by 1.4% in the first quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network’s stock worth $35,433,585,000 after buying an additional 509,255 shares in the last quarter. FMR LLC raised its stake in Netflix by 1.8% during the fourth quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock worth $18,617,081,000 after purchasing an additional 375,234 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Netflix by 2.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,732,066 shares of the Internet television network’s stock worth $10,940,505,000 after purchasing an additional 304,399 shares during the period. Geode Capital Management LLC raised its stake in Netflix by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock worth $8,287,823,000 after purchasing an additional 175,596 shares during the period. Finally, GAMMA Investing LLC raised its stake in Netflix by 109,524.3% during the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock worth $8,239,576,000 after purchasing an additional 8,827,662 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

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.