Netflix (NASDAQ:NFLX) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Netflix (NASDAQ:NFLX) from a buy rating to a hold rating in a research note issued to investors on Thursday.

NFLX has been the topic of a number of other research reports. Oppenheimer restated an outperform rating and set a $725.00 price objective on shares of Netflix in a research note on Tuesday, July 30th. Citigroup boosted their price objective on Netflix from $660.00 to $675.00 and gave the stock a neutral rating in a research note on Monday, July 22nd. Wedbush restated an outperform rating and set a $725.00 price objective on shares of Netflix in a research note on Monday, May 20th. Piper Sandler boosted their price objective on Netflix from $600.00 to $650.00 and gave the stock a neutral rating in a research note on Friday, July 19th. Finally, KeyCorp boosted their price objective on Netflix from $707.00 to $735.00 and gave the stock an overweight rating in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Netflix has a consensus rating of Moderate Buy and a consensus target price of $685.45.

Netflix Price Performance

Shares of Netflix stock opened at $701.35 on Thursday. Netflix has a twelve month low of $344.73 and a twelve month high of $711.33. The stock has a market capitalization of $301.00 billion, a P/E ratio of 48.67, a PEG ratio of 1.44 and a beta of 1.27. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The business’s fifty day moving average price is $659.34 and its 200 day moving average price is $631.17.

Netflix (NASDAQ:NFLX) last issued 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 return on equity of 32.93% and a net margin of 19.54%. The firm had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. During the same quarter last year, the firm earned $3.29 earnings per share. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. As a group, research analysts anticipate that Netflix will post 19.08 earnings per share for the current year.

Insider Activity

In other news, Director Leslie J. Kilgore sold 1,372 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $704.81, for a total transaction of $966,999.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Gregory K. Peters sold 4,783 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,835,750. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Leslie J. Kilgore sold 1,372 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $704.81, for a total value of $966,999.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 132,757 shares of company stock valued at $85,648,496. 1.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Netflix

Hedge funds and other institutional investors have recently made changes to their positions in the business. Denver PWM LLC acquired a new position in shares of Netflix during the second quarter worth approximately $25,000. Valued Wealth Advisors LLC lifted its position in Netflix by 80.0% in the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 20 shares during the period. Proffitt & Goodson Inc. lifted its position in Netflix by 380.0% in the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 38 shares during the period. AlphaMark Advisors LLC lifted its position in Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after purchasing an additional 45 shares during the period. Finally, Indiana Trust & Investment Management CO lifted its position in Netflix by 112.0% in the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 28 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.