Wedbush Reiterates “$93.00” Price Target for Netflix (NFLX)

Wedbush set a $93.00 price objective on Netflix (NASDAQ:NFLX) in a report published on Friday. The brokerage currently has a sell rating on the Internet television network’s stock.

Several other analysts have also commented on NFLX. Buckingham Research started coverage on Netflix in a research note on Thursday, September 21st. They issued a buy rating and a $214.00 price target on the stock. Wells Fargo & Co assumed coverage on Netflix in a research note on Tuesday, September 26th. They issued an outperform rating and a $230.00 price objective on the stock. Vetr raised Netflix from a sell rating to a hold rating and set a $183.92 price objective on the stock in a research note on Thursday, September 28th. Sanford C. Bernstein reissued an outperform rating and issued a $203.00 price objective on shares of Netflix in a research note on Sunday, October 1st. Finally, UBS Group reissued a buy rating and issued a $225.00 price objective (up previously from $190.00) on shares of Netflix in a research note on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and thirty-five have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $213.56.

Shares of Netflix (NFLX) traded up $4.74 during mid-day trading on Friday, reaching $225.20. The company had a trading volume of 8,340,000 shares, compared to its average volume of 6,720,000. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.47. The firm has a market cap of $97,450.00, a price-to-earnings ratio of 227.47, a price-to-earnings-growth ratio of 3.56 and a beta of 1.34. Netflix has a twelve month low of $137.03 and a twelve month high of $227.00.

In related news, insider Jonathan Friedland sold 2,743 shares of the stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $205.59, for a total transaction of $563,933.37. Following the completion of the transaction, the insider now directly owns 1,147 shares in the company, valued at $235,811.73. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard N. Barton sold 700 shares of the stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $197.38, for a total value of $138,166.00. Following the transaction, the director now owns 7,362 shares of the company’s stock, valued at $1,453,111.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 258,216 shares of company stock valued at $50,391,195. 4.90% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. TRUE Private Wealth Advisors boosted its position in Netflix by 240.9% during the fourth quarter. TRUE Private Wealth Advisors now owns 4,980 shares of the Internet television network’s stock valued at $955,000 after purchasing an additional 3,519 shares during the last quarter. Personal Capital Advisors Corp boosted its position in Netflix by 5.4% during the fourth quarter. Personal Capital Advisors Corp now owns 160,512 shares of the Internet television network’s stock valued at $30,812,000 after purchasing an additional 8,245 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Netflix by 806.5% during the fourth quarter. State of Alaska Department of Revenue now owns 44,960 shares of the Internet television network’s stock valued at $8,629,000 after purchasing an additional 40,000 shares during the last quarter. Syntal Capital Partners LLC boosted its position in Netflix by 81.5% during the fourth quarter. Syntal Capital Partners LLC now owns 8,127 shares of the Internet television network’s stock valued at $1,560,000 after purchasing an additional 3,649 shares during the last quarter. Finally, Oakbrook Investments LLC acquired a new position in Netflix during the fourth quarter valued at approximately $840,000. 83.27% of the stock is owned by hedge funds and other institutional investors.

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Netflix Company Profile

Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.

Analyst Recommendations for Netflix (NASDAQ:NFLX)

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