Netflix (NASDAQ:NFLX) Given New $1,150.00 Price Target at Morgan Stanley

Netflix (NASDAQ:NFLX) had its target price lifted by Morgan Stanley from $1,050.00 to $1,150.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the Internet television network’s stock.

A number of other research firms have also issued reports on NFLX. Citigroup raised their price target on Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. UBS Group lifted their target price on Netflix from $825.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Evercore ISI upped their price target on Netflix from $775.00 to $950.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Bank of America lifted their price objective on shares of Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, Loop Capital cut their price objective on shares of Netflix from $950.00 to $925.00 and set a “hold” rating for the company in a research report on Thursday, January 16th. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $993.82.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $953.99 on Wednesday. The stock has a market cap of $407.79 billion, a P/E ratio of 53.99, a P/E/G ratio of 1.40 and a beta of 1.27. Netflix has a twelve month low of $481.40 and a twelve month high of $999.00. The stock has a 50 day moving average of $886.64 and a two-hundred day moving average of $762.07. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last released its quarterly 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. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The firm had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10,141,900 billion. During the same quarter in the prior year, the firm earned $2.11 EPS. Netflix’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, research analysts forecast that Netflix will post 19.76 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other news, Chairman Reed Hastings sold 48,363 shares of the business’s 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 completion of the transaction, the chairman now owns 114 shares of the company’s stock, valued at $102,212.40. The trade was a 99.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard N. Barton sold 6,364 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the sale, the director now owns 246 shares in the company, valued at approximately $216,327.48. This trade represents a 96.28 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 152,198 shares of company stock worth $127,616,898. Corporate insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Large investors have recently added to or reduced their stakes in the business. Epoch Investment Partners Inc. boosted its position in shares of Netflix by 27.1% in the second quarter. Epoch Investment Partners Inc. now owns 544 shares of the Internet television network’s stock worth $367,000 after acquiring an additional 116 shares during the last quarter. Mill Creek Capital Advisors LLC raised its stake in Netflix by 24.8% during the second quarter. Mill Creek Capital Advisors LLC now owns 433 shares of the Internet television network’s stock worth $292,000 after purchasing an additional 86 shares during the period. Clear Point Advisors Inc. boosted its holdings in shares of Netflix by 3.9% in the 2nd quarter. Clear Point Advisors Inc. now owns 449 shares of the Internet television network’s stock valued at $303,000 after purchasing an additional 17 shares during the last quarter. Insigneo Advisory Services LLC grew its stake in shares of Netflix by 10.6% during the 2nd quarter. Insigneo Advisory Services LLC now owns 8,230 shares of the Internet television network’s stock valued at $5,554,000 after buying an additional 786 shares during the period. Finally, Fred Alger Management LLC increased its holdings in shares of Netflix by 4.7% during the 2nd quarter. Fred Alger Management LLC now owns 465,249 shares of the Internet television network’s stock worth $313,987,000 after buying an additional 20,962 shares during the last quarter. 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.