Netflix (NASDAQ:NFLX) Earns “Underweight” Rating from Barclays

Barclays reissued their underweight rating on shares of Netflix (NASDAQ:NFLX) in a research report report published on Friday, Benzinga reports. Barclays currently has a $550.00 target price on the Internet television network’s stock.

A number of other equities research analysts also recently issued reports on the company. Wells Fargo & Company upped their price objective on Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a research report on Friday. Oppenheimer increased their price target on Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a report on Friday. Morgan Stanley lifted their price objective on shares of Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research note on Friday. StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. Finally, Piper Sandler restated an “overweight” rating and issued a $840.00 target price (up previously from $800.00) on shares of Netflix in a report on Friday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $747.70.

Netflix Price Performance

NFLX stock opened at $763.89 on Friday. Netflix has a 52 week low of $392.26 and a 52 week high of $766.28. The firm has a market capitalization of $329.24 billion, a P/E ratio of 53.01, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. The company has a fifty day simple moving average of $696.38 and a two-hundred day simple moving average of $655.12. 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 (NASDAQ:NFLX) last announced its 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. The firm had revenue of $9.56 billion for 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 was up 16.8% compared to the same quarter last year. During the same period in the prior year, the company earned $3.29 EPS. Analysts anticipate that Netflix will post 19.08 earnings per share for the current fiscal year.

Insider Activity

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 owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $19,128,159.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 225,167 shares of company stock worth $150,492,460. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Hedge funds have recently modified their holdings of the company. Heartland Bank & Trust Co raised its stake in shares of Netflix by 0.9% during the 2nd quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock worth $1,195,000 after acquiring an additional 15 shares in the last quarter. Cedrus LLC boosted its stake in Netflix by 0.8% in the third quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock valued at $1,263,000 after acquiring an additional 15 shares in the last quarter. Meritas Wealth Management LLC grew its holdings in Netflix by 2.9% in the third quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock worth $406,000 after purchasing an additional 16 shares during the last quarter. Stage Harbor Financial LLC increased its position in shares of Netflix by 4.8% during the third quarter. Stage Harbor Financial LLC now owns 346 shares of the Internet television network’s stock worth $250,000 after purchasing an additional 16 shares in the last quarter. Finally, Compass Ion Advisors LLC lifted its holdings in shares of Netflix by 4.5% during the 3rd quarter. Compass Ion Advisors LLC now owns 369 shares of the Internet television network’s stock valued at $262,000 after purchasing an additional 16 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Company Profile

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.