Netflix (NASDAQ:NFLX) Upgraded at Needham & Company LLC

Needham & Company LLC upgraded shares of Netflix (NASDAQ:NFLX) from a hold rating to a buy rating in a research note issued to investors on Friday, MarketBeat reports. They currently have $700.00 price objective on the Internet television network’s stock.

Several other brokerages also recently weighed in on NFLX. Redburn Atlantic raised their price target on Netflix from $550.00 to $610.00 and gave the stock a buy rating in a report on Wednesday, January 24th. Macquarie boosted their target price on shares of Netflix from $595.00 to $685.00 and gave the stock an outperform rating in a research report on Tuesday, April 16th. Benchmark reaffirmed a sell rating and issued a $440.00 price target on shares of Netflix in a report on Thursday, April 18th. The Goldman Sachs Group boosted their price objective on shares of Netflix from $500.00 to $565.00 and gave the company a neutral rating in a report on Wednesday, January 24th. Finally, Guggenheim raised their target price on Netflix from $600.00 to $700.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $630.58.

Netflix Stock Down 0.1 %

Shares of Netflix stock opened at $554.60 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The company has a market cap of $238.98 billion, a P/E ratio of 38.49, a PEG ratio of 1.49 and a beta of 1.22. The firm’s 50 day moving average price is $605.58 and its 200-day moving average price is $516.27. Netflix has a 52-week low of $315.62 and a 52-week high of $639.00.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. During the same period in the previous year, the company earned $2.88 earnings per share. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, sell-side analysts predict that Netflix will post 17.13 EPS for the current fiscal year.

Insider Activity at Netflix

In other Netflix news, CEO Theodore A. Sarandos sold 68,957 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the transaction, the chief executive officer now directly owns 1,278 shares of the company’s stock, valued at $717,379.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Chairman Reed Hastings sold 20,566 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the completion of the sale, the chairman now directly owns 28 shares in the company, valued at $17,091.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Theodore A. Sarandos sold 68,957 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $561.33, for a total value of $38,707,632.81. Following the completion of the transaction, the chief executive officer now owns 1,278 shares in the company, valued at approximately $717,379.74. The disclosure for this sale can be found here. In the last quarter, insiders have sold 268,335 shares of company stock valued at $151,619,811. 2.45% of the stock is owned by company insiders.

Institutional Investors Weigh In On Netflix

Hedge funds have recently modified their holdings of the business. KFA Private Wealth Group LLC lifted its holdings in shares of Netflix by 1.9% in the 4th quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock worth $466,000 after acquiring an additional 18 shares during the last quarter. Legacy Capital Group California Inc. raised its position in Netflix by 0.6% in the fourth quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network’s stock valued at $1,379,000 after purchasing an additional 18 shares during the period. Founders Financial Alliance LLC lifted its stake in Netflix by 2.4% during the fourth quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock worth $369,000 after purchasing an additional 18 shares in the last quarter. Capital Advisors Ltd. LLC boosted its position in shares of Netflix by 4.6% during the first quarter. Capital Advisors Ltd. LLC now owns 411 shares of the Internet television network’s stock worth $250,000 after buying an additional 18 shares during the period. Finally, Addison Advisors LLC grew its stake in shares of Netflix by 7.8% in the fourth quarter. Addison Advisors LLC now owns 276 shares of the Internet television network’s stock valued at $134,000 after buying an additional 20 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.