Goldman Sachs Group Cuts Netflix (NASDAQ:NFLX) Price Target to $420.00
Netflix (NASDAQ:NFLX) had its target price decreased by Goldman Sachs Group from $460.00 to $420.00 in a research report report published on Thursday morning, The Fly reports.
A number of other research analysts have also weighed in on the stock. Barclays reaffirmed a buy rating on shares of Netflix in a research note on Thursday, May 16th. Evercore ISI reaffirmed an outperform rating and issued a $380.00 price target (up from $350.00) on shares of Netflix in a research note on Wednesday, July 10th. ValuEngine lowered shares of Zuora from a buy rating to a hold rating in a research note on Saturday, June 1st. Wedbush initiated coverage on shares of Millendo Therapeutics in a research note on Thursday. They issued an outperform rating and a $24.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered shares of News from a neutral rating to an underweight rating in a research note on Thursday. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and a consensus target price of $390.47.
NASDAQ:NFLX opened at $315.10 on Thursday. Netflix has a 52 week low of $231.23 and a 52 week high of $386.80. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.85 and a quick ratio of 0.61. The firm has a market cap of $137.77 billion, a PE ratio of 117.57, a PEG ratio of 3.20 and a beta of 1.26. The company’s 50-day simple moving average is $361.42.
In other Netflix news, Director Ann Mather sold 1,208 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $375.00, for a total value of $453,000.00. Following the transaction, the director now directly owns 357 shares of the company’s stock, valued at approximately $133,875. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Reed Hastings sold 51,898 shares of Netflix stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $372.89, for a total transaction of $19,352,245.22. Following the sale, the chief executive officer now directly owns 51,898 shares in the company, valued at approximately $19,352,245.22. The disclosure for this sale can be found here. Insiders sold a total of 110,520 shares of company stock worth $39,835,842 over the last three months. Corporate insiders own 3.72% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of Netflix by 2.4% during the 1st quarter. FMR LLC now owns 26,167,019 shares of the Internet television network’s stock valued at $9,330,112,000 after buying an additional 605,419 shares during the period. Geode Capital Management LLC raised its position in shares of Netflix by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 5,342,932 shares of the Internet television network’s stock valued at $1,427,434,000 after buying an additional 148,252 shares during the period. Northern Trust Corp raised its position in shares of Netflix by 1.9% during the 1st quarter. Northern Trust Corp now owns 4,948,504 shares of the Internet television network’s stock valued at $1,764,438,000 after buying an additional 90,312 shares during the period. Norges Bank purchased a new stake in shares of Netflix during the 4th quarter valued at approximately $1,209,406,000. Finally, Janus Henderson Group PLC raised its position in shares of Netflix by 11.6% during the 1st quarter. Janus Henderson Group PLC now owns 3,257,549 shares of the Internet television network’s stock valued at $1,161,512,000 after buying an additional 339,899 shares during the period. 77.03% of the stock is currently owned by hedge funds and other institutional investors.
Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.
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