Netflix (NASDAQ:NFLX) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Netflix (NASDAQ:NFLX) from a buy rating to a hold rating in a report published on Thursday morning.

A number of other equities analysts have also recently commented on the stock. KeyCorp lifted their price objective on shares of Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday. Robert W. Baird upped their price target on shares of Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Wednesday. Evercore ISI raised their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Wednesday. Citigroup increased their target price on Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Finally, Argus boosted their price target on Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Ten analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $996.94.

Netflix Stock Up 3.2 %

Netflix stock opened at $984.86 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The company’s 50-day moving average is $889.11 and its 200-day moving average is $763.41. The firm has a market capitalization of $420.99 billion, a PE ratio of 49.67, a P/E/G ratio of 1.41 and a beta of 1.27. Netflix has a fifty-two week low of $537.07 and a fifty-two week high of $999.00.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. Netflix had a return on equity of 39.48% and a net margin of 22.34%. The firm had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10,141,900 billion. During the same quarter in the previous year, the business earned $2.11 earnings per share. The business’s revenue was up 16.0% compared to the same quarter last year. Sell-side analysts anticipate that Netflix will post 23.43 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other news, Chairman Reed Hastings sold 41,601 shares of Netflix stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $758.06, for a total transaction of $31,536,054.06. Following the sale, the chairman now directly owns 85 shares of the company’s stock, valued at approximately $64,435.10. This trade represents a 99.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David A. Hyman sold 267 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $24,202,828.70. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 146,500 shares of company stock worth $123,309,210 over the last quarter. Corporate insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

A number of hedge funds have recently modified their holdings of the business. Enzi Wealth raised its position in Netflix by 3.4% during the 4th quarter. Enzi Wealth now owns 331 shares of the Internet television network’s stock worth $316,000 after purchasing an additional 11 shares during the last quarter. TCI Wealth Advisors Inc. raised its position in shares of Netflix by 1.6% during the fourth quarter. TCI Wealth Advisors Inc. now owns 700 shares of the Internet television network’s stock worth $624,000 after acquiring an additional 11 shares during the last quarter. Advisory Resource Group lifted its stake in shares of Netflix by 0.7% in the third quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network’s stock worth $1,238,000 after acquiring an additional 12 shares during the period. Insight Wealth Strategies LLC boosted its holdings in Netflix by 1.9% in the fourth quarter. Insight Wealth Strategies LLC now owns 656 shares of the Internet television network’s stock valued at $585,000 after acquiring an additional 12 shares during the last quarter. Finally, Sunflower Bank N.A. increased its position in Netflix by 2.1% during the 4th quarter. Sunflower Bank N.A. now owns 575 shares of the Internet television network’s stock valued at $513,000 after purchasing an additional 12 shares during the period. Institutional investors and hedge funds 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.