Netflix (NASDAQ:NFLX) Price Target Lowered to $420.00 at Goldman Sachs Group

Netflix (NASDAQ:NFLX) had its price target cut by Goldman Sachs Group from $460.00 to $420.00 in a report released on Thursday, The Fly reports.

NFLX has been the topic of a number of other reports. JPMorgan Chase & Co. cut shares of News from a neutral rating to an underweight rating in a research note on Thursday. Piper Jaffray Companies reaffirmed a buy rating on shares of Incyte in a research note on Monday, June 17th. ValuEngine cut shares of Zuora from a buy rating to a hold rating in a research note on Saturday, June 1st. Rosenblatt Securities reaffirmed a neutral rating and set a $370.00 price target (up from $350.00) on shares of Netflix in a research note on Wednesday, July 10th. Finally, Buckingham Research upped their price target on shares of United Continental from $109.00 to $111.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Netflix presently has a consensus rating of Buy and an average price target of $390.47.

Shares of NFLX opened at $315.10 on Thursday. The company has a quick ratio of 0.61, a current ratio of 0.85 and a debt-to-equity ratio of 2.06. The firm has a market cap of $137.77 billion, a PE ratio of 117.57, a P/E/G ratio of 3.19 and a beta of 1.26. The firm has a fifty day moving average price of $361.42. Netflix has a 1 year low of $231.23 and a 1 year high of $386.80.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Wednesday, July 17th. The Internet television network reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04. The company had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $4.93 billion. Netflix had a net margin of 6.53% and a return on equity of 20.88%. Netflix’s revenue was up 26.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 EPS. On average, sell-side analysts anticipate that Netflix will post 3.28 EPS for the current fiscal year.

In related news, CEO Reed Hastings sold 51,898 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $372.89, for a total value of $19,352,245.22. Following the sale, the chief executive officer now directly owns 51,898 shares of the company’s stock, valued at approximately $19,352,245.22. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ann Mather sold 1,208 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $375.00, for a total transaction of $453,000.00. Following the completion of the transaction, the director now owns 357 shares in the company, valued at $133,875. The disclosure for this sale can be found here. Over the last three months, insiders sold 167,486 shares of company stock worth $60,955,416. 4.29% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Clarfeld Financial Advisors LLC purchased a new position in Netflix in the 4th quarter valued at about $27,000. TCG Advisors LP purchased a new position in Netflix in the 1st quarter valued at about $36,000. Joseph P. Lucia & Associates LLC purchased a new position in Netflix in the 1st quarter valued at about $44,000. SevenBridge Financial Group LLC lifted its holdings in Netflix by 66.7% in the 2nd quarter. SevenBridge Financial Group LLC now owns 125 shares of the Internet television network’s stock valued at $46,000 after purchasing an additional 50 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its holdings in Netflix by 182.0% in the 1st quarter. Thompson Siegel & Walmsley LLC now owns 141 shares of the Internet television network’s stock valued at $50,000 after purchasing an additional 91 shares in the last quarter. Institutional investors own 77.02% of the company’s stock.

Netflix Company Profile

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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