Netflix (NASDAQ:NFLX) Stock Rating Reaffirmed by Rosenblatt Securities

Netflix (NASDAQ:NFLX)‘s stock had its “neutral” rating reiterated by investment analysts at Rosenblatt Securities in a note issued to investors on Friday, Benzinga reports. They currently have a $635.00 price target on the Internet television network’s stock. Rosenblatt Securities’ target price would suggest a potential downside of 9.57% from the company’s current price.

Several other research analysts have also weighed in on NFLX. Jefferies Financial Group lifted their target price on Netflix from $655.00 to $780.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Bank of America lifted their price objective on Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a report on Monday, July 15th. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a research note on Sunday, September 15th. Redburn Atlantic lifted their price target on Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Finally, Citigroup increased their price objective on Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $685.29.

Netflix Trading Down 0.3 %

Shares of Netflix stock traded down $2.10 during trading on Friday, hitting $702.22. 1,352,738 shares of the company were exchanged, compared to its average volume of 3,723,734. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $302.66 billion, a P/E ratio of 48.76, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. The firm’s fifty day moving average price is $661.93 and its 200 day moving average price is $639.96. Netflix has a 1-year low of $344.73 and a 1-year high of $715.66.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The firm had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.29 earnings per share. As a group, sell-side analysts expect that Netflix will post 19.08 earnings per share for the current fiscal year.

Insider Activity at Netflix

In other news, Director Jay C. Hoag sold 43,750 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $687.07, for a total transaction of $30,059,312.50. Following the sale, the director now directly owns 95,040 shares of the company’s stock, valued at approximately $65,299,132.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Jay C. Hoag sold 43,750 shares of Netflix stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $687.07, for a total value of $30,059,312.50. Following the transaction, the director now owns 95,040 shares in the company, valued at approximately $65,299,132.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Reed Hastings sold 22,526 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $670.49, for a total value of $15,103,457.74. Following the sale, the chairman now owns 57 shares of the company’s stock, valued at $38,217.93. The disclosure for this sale can be found here. Over the last three months, insiders have sold 196,798 shares of company stock worth $129,552,672. Corporate insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

A number of institutional investors have recently added to or reduced their stakes in the stock. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Netflix by 58.2% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 39,560 shares of the Internet television network’s stock worth $26,698,000 after buying an additional 14,560 shares during the last quarter. University of Texas Texas AM Investment Management Co. raised its position in Netflix by 231.5% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 5,805 shares of the Internet television network’s stock valued at $3,918,000 after purchasing an additional 4,054 shares during the last quarter. Lazari Capital Management Inc. boosted its stake in shares of Netflix by 3.2% during the second quarter. Lazari Capital Management Inc. now owns 3,931 shares of the Internet television network’s stock valued at $2,653,000 after purchasing an additional 123 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Netflix during the second quarter worth about $47,894,000. Finally, NCP Inc. increased its stake in shares of Netflix by 5.4% in the second quarter. NCP Inc. now owns 10,491 shares of the Internet television network’s stock valued at $7,080,000 after buying an additional 535 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.