Barclays Reiterates Underweight Rating for Netflix (NASDAQ:NFLX)

Barclays reiterated their underweight rating on shares of Netflix (NASDAQ:NFLX) in a research note released on Friday morning, Benzinga reports. The firm currently has a $550.00 price objective on the Internet television network’s stock.

Several other analysts have also issued reports on NFLX. Citigroup upped their price target on shares of Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. UBS Group increased their target price on shares of Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a report on Friday. BMO Capital Markets reiterated an “outperform” rating and set a $825.00 target price (up from $770.00) on shares of Netflix in a report on Friday. TD Cowen increased their target price on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a report on Friday. Finally, Sanford C. Bernstein increased their target price on shares of Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $739.38.

Netflix Stock Performance

NASDAQ NFLX opened at $763.89 on Friday. The company has a 50-day simple moving average of $696.38 and a two-hundred day simple moving average of $654.66. 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 12-month low of $392.26 and a 12-month high of $766.28. The firm has a market cap of $329.24 billion, a price-to-earnings ratio of 53.01, a PEG ratio of 1.49 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $9.53 billion. During the same period in the prior year, the business posted $3.29 earnings per share. The company’s revenue was up 16.8% on a year-over-year basis. On average, equities analysts forecast that Netflix will post 19.08 EPS for the current year.

Insider Buying and Selling

In related news, CEO Gregory K. Peters sold 1,278 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total value of $785,254.32. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,043,019.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory K. Peters sold 1,278 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total transaction of $785,254.32. Following the completion of the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,043,019.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 225,167 shares of company stock worth $150,492,460 in the last three months. Insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

A number of hedge funds have recently added to or reduced their stakes in the company. RFG Advisory LLC raised its stake in Netflix by 24.7% during the 1st quarter. RFG Advisory LLC now owns 2,292 shares of the Internet television network’s stock valued at $1,392,000 after buying an additional 454 shares during the last quarter. Meyer Handelman Co. raised its stake in Netflix by 0.8% during the 1st quarter. Meyer Handelman Co. now owns 3,358 shares of the Internet television network’s stock valued at $2,039,000 after buying an additional 25 shares during the last quarter. Congress Asset Management Co. MA raised its stake in Netflix by 6.6% during the 1st quarter. Congress Asset Management Co. MA now owns 18,885 shares of the Internet television network’s stock valued at $11,469,000 after buying an additional 1,174 shares during the last quarter. MJP Associates Inc. ADV purchased a new stake in Netflix during the 1st quarter valued at $360,000. Finally, &PARTNERS raised its stake in Netflix by 158.2% during the 1st quarter. &PARTNERS now owns 1,379 shares of the Internet television network’s stock valued at $838,000 after buying an additional 845 shares during the last quarter. 80.93% of the stock is currently 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.