Netflix’s (NFLX) Neutral Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their neutral rating on shares of Netflix (NASDAQ:NFLX) in a report published on Monday, Marketbeat Ratings reports. The firm currently has a $1,220.00 target price on the Internet television network’s stock, up from their previous target price of $1,150.00.

A number of other equities analysts have also recently weighed in on the stock. Canaccord Genuity Group upped their price target on shares of Netflix from $1,200.00 to $1,380.00 and gave the stock a “buy” rating in a research note on Friday. Citigroup reaffirmed a “neutral” rating on shares of Netflix in a research note on Monday, May 5th. StockNews.com cut shares of Netflix from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. Evercore ISI reaffirmed an “outperform” rating on shares of Netflix in a research note on Thursday. Finally, Benchmark reaffirmed a “hold” rating on shares of Netflix in a research note on Monday, April 21st. Eleven investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,102.79.

Netflix Stock Performance

Shares of NFLX opened at $1,191.64 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market capitalization of $507.13 billion, a P/E ratio of 60.09, a P/E/G ratio of 2.12 and a beta of 1.58. The company’s fifty day moving average is $1,014.78 and its two-hundred day moving average is $951.31. Netflix has a 1 year low of $587.04 and a 1 year high of $1,196.50.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same period in the previous year, the company posted $8.28 EPS. On average, sell-side analysts predict that Netflix will post 24.58 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other news, CAO Jeffrey William Karbowski sold 160 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $1,000.00, for a total transaction of $160,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $982.05, for a total transaction of $2,554,312.05. Following the sale, the chief financial officer now directly owns 3,691 shares of the company’s stock, valued at $3,624,746.55. The trade was a 41.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold 132,868 shares of company stock valued at $138,483,256 over the last 90 days. 1.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Netflix

A number of hedge funds have recently added to or reduced their stakes in NFLX. Halbert Hargrove Global Advisors LLC boosted its holdings in Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock worth $25,000 after purchasing an additional 13 shares during the period. Pathway Financial Advisers LLC boosted its holdings in Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 14 shares during the period. Brown Shipley& Co Ltd acquired a new position in Netflix in the fourth quarter worth $27,000. Transce3nd LLC acquired a new position in Netflix in the fourth quarter worth $32,000. Finally, Newton One Investments LLC acquired a new position in Netflix in the fourth quarter worth $34,000. Institutional investors and hedge funds 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.