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Netflix (NASDAQ:NFLX – Free Report) had its price target cut by Piper Sandler from $440.00 to $400.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a neutral rating on the Internet television network’s stock.
Other research analysts also recently issued research reports about the company. Seaport Res Ptn restated a buy rating on shares of Netflix in a report on Friday, October 6th. Benchmark restated a sell rating and set a $325.00 price target on shares of Netflix in a report on Wednesday, October 4th. Rosenblatt Securities boosted their price target on Netflix from $358.00 to $400.00 and gave the company a neutral rating in a report on Thursday, July 20th. Evercore ISI reduced their target price on Netflix from $550.00 to $500.00 and set an outperform rating on the stock in a report on Monday, September 18th. Finally, Canaccord Genuity Group upped their target price on Netflix from $470.00 to $525.00 and gave the stock a buy rating in a report on Thursday, July 20th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $432.23.
Check Out Our Latest Research Report on Netflix
Netflix Trading Down 1.5 %
NASDAQ NFLX opened at $355.68 on Wednesday. Netflix has a 1-year low of $229.51 and a 1-year high of $485.00. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average of $406.78 and a 200-day moving average of $393.84. The firm has a market cap of $157.62 billion, a PE ratio of 37.88, a price-to-earnings-growth ratio of 1.43 and a beta of 1.31.
Netflix (NASDAQ:NFLX – Get Free Report) last announced its quarterly earnings results on Wednesday, July 19th. The Internet television network reported $3.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.44. Netflix had a return on equity of 19.76% and a net margin of 13.22%. The company had revenue of $8.19 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the previous year, the business earned $3.20 EPS. Netflix’s revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Netflix will post 11.91 EPS for the current year.
Insider Activity at Netflix
In other news, Director Jay C. Hoag sold 4,954 shares of the stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $422.24, for a total transaction of $2,091,776.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Jay C. Hoag sold 4,954 shares of the stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $422.24, for a total transaction of $2,091,776.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 20,188 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $440.16, for a total value of $8,885,950.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 117,714 shares of company stock valued at $50,138,516. 2.45% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Netflix
Several hedge funds and other institutional investors have recently modified their holdings of NFLX. OneAscent Financial Services LLC increased its stake in shares of Netflix by 30.7% in the 3rd quarter. OneAscent Financial Services LLC now owns 1,277 shares of the Internet television network’s stock worth $482,000 after purchasing an additional 300 shares in the last quarter. Buckingham Capital Management Inc. purchased a new stake in shares of Netflix in the 3rd quarter worth $333,000. Institute for Wealth Management LLC. increased its stake in shares of Netflix by 1.9% in the 3rd quarter. Institute for Wealth Management LLC. now owns 4,198 shares of the Internet television network’s stock worth $1,585,000 after purchasing an additional 78 shares in the last quarter. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Netflix in the 3rd quarter worth $228,000. Finally, HB Wealth Management LLC increased its stake in shares of Netflix by 20.8% in the 3rd quarter. HB Wealth Management LLC now owns 8,821 shares of the Internet television network’s stock worth $3,331,000 after purchasing an additional 1,517 shares in the last quarter. 79.95% of the stock is owned by institutional investors.
Netflix Company Profile
(Get Free Report)
Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.
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