Netflix (NASDAQ:NFLX) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Netflix (NASDAQ:NFLX) from a buy rating to a hold rating in a report issued on Saturday.

NFLX has been the subject of several other reports. Wedbush reaffirmed an outperform rating and set a $725.00 price objective on shares of Netflix in a research note on Monday, May 20th. Loop Capital raised their price objective on Netflix from $700.00 to $750.00 and gave the company a buy rating in a research report on Tuesday, June 18th. Redburn Atlantic lifted their price target on shares of Netflix from $740.00 to $760.00 and gave the stock a buy rating in a report on Friday, July 19th. Jefferies Financial Group increased their price objective on shares of Netflix from $655.00 to $780.00 and gave the company a buy rating in a research report on Tuesday, July 16th. Finally, Piper Sandler raised their target price on Netflix from $600.00 to $650.00 and gave the stock a neutral rating in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $685.29.

Netflix Trading Down 0.3 %

NFLX opened at $673.62 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix has a 52 week low of $344.73 and a 52 week high of $711.33. The stock has a market cap of $289.10 billion, a PE ratio of 46.75, a PEG ratio of 1.36 and a beta of 1.26. The business has a 50 day moving average of $659.81 and a 200-day moving average of $635.91.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. During the same quarter last year, the firm earned $3.29 earnings per share. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. Equities research analysts predict that Netflix will post 19.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Netflix news, Director Jay C. Hoag sold 37,675 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $629.73, for a total transaction of $23,725,077.75. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total value of $271,140.27. The disclosure for this sale can be found here. Insiders have sold a total of 157,831 shares of company stock worth $102,721,884 in the last quarter. Company insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NFLX. Heartland Bank & Trust Co raised its stake in shares of Netflix by 0.9% in the 2nd quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock valued at $1,195,000 after acquiring an additional 15 shares during the period. Obermeyer Wood Investment Counsel Lllp boosted its position in Netflix by 2.8% in the 1st quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock valued at $378,000 after buying an additional 17 shares during the last quarter. Private Portfolio Partners LLC grew its stake in shares of Netflix by 1.7% during the first quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock valued at $633,000 after acquiring an additional 17 shares in the last quarter. FAS Wealth Partners Inc. boosted its holdings in Netflix by 1.5% in the second quarter. FAS Wealth Partners Inc. now owns 1,164 shares of the Internet television network’s stock valued at $786,000 after purchasing an additional 17 shares during the last quarter. Finally, Clear Point Advisors Inc. grew its stake in Netflix by 3.9% during the 2nd quarter. Clear Point Advisors Inc. now owns 449 shares of the Internet television network’s stock valued at $303,000 after purchasing an additional 17 shares in the last quarter. Hedge funds and other institutional investors 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.