Netflix (NASDAQ:NFLX) Stock Rating Lowered by Canaccord Genuity Group

Canaccord Genuity Group downgraded shares of Netflix (NASDAQ:NFLX) from a buy rating to a hold rating in a research note issued to investors on Friday morning, Marketbeat reports. They currently have $585.00 target price on the Internet television network’s stock, down from their prior target price of $720.00.

A number of other brokerages also recently issued reports on NFLX. Citigroup upped their price target on Netflix from $555.00 to $660.00 and gave the stock a neutral rating in a research report on Monday, March 25th. UBS Group increased their target price on shares of Netflix from $570.00 to $685.00 and gave the stock a buy rating in a research note on Tuesday, February 27th. Bank of America increased their target price on shares of Netflix from $585.00 to $650.00 and gave the stock a buy rating in a research note on Wednesday, January 24th. Barclays upped their price target on shares of Netflix from $475.00 to $550.00 and gave the stock an equal weight rating in a research report on Tuesday, April 9th. Finally, Seaport Res Ptn downgraded shares of Netflix from a buy rating to a neutral rating in a report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $630.58.

Netflix Trading Down 0.1 %

NFLX opened at $554.60 on Friday. Netflix has a 12 month low of $315.62 and a 12 month high of $639.00. The stock has a 50-day moving average of $605.58 and a 200 day moving average of $516.27. The firm has a market cap of $238.98 billion, a P/E ratio of 38.49, a P/E/G ratio of 1.49 and a beta of 1.22. The company has a current ratio of 1.07, a quick ratio of 1.12 and a debt-to-equity ratio of 0.62.

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

Insider Activity at Netflix

In related news, Director Ann Mather sold 3,673 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total value of $2,203,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider David A. Hyman sold 47,574 shares of the company’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total value of $25,591,006.08. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $17,003,651.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ann Mather sold 3,673 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total transaction of $2,203,800.00. The disclosure for this sale can be found here. Insiders sold a total of 268,335 shares of company stock valued at $151,619,811 over the last ninety days. Insiders own 2.45% of the company’s stock.

Institutional Investors Weigh In On Netflix

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

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.