StockNews.com Downgrades Netflix (NASDAQ:NFLX) to Hold

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

A number of other equities analysts have also commented on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $840.00 price objective (up from $800.00) on shares of Netflix in a research note on Friday, October 18th. Oppenheimer lifted their price objective on Netflix from $775.00 to $825.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. boosted their price target on Netflix from $850.00 to $1,010.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Canaccord Genuity Group boosted their price target on Netflix from $760.00 to $940.00 and gave the company a “hold” rating in a research note on Monday, December 2nd. Finally, Loop Capital boosted their price target on Netflix from $750.00 to $800.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $787.85.

Netflix Price Performance

Netflix stock opened at $918.87 on Friday. The stock’s 50 day moving average is $814.02 and its 200 day moving average is $720.29. 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 firm has a market cap of $392.78 billion, a P/E ratio of 52.00, a P/E/G ratio of 1.80 and a beta of 1.27. Netflix has a one year low of $461.86 and a one year high of $941.75.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. As a group, research analysts expect that Netflix will post 19.78 EPS for the current year.

Insider Buying and Selling

In other Netflix news, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Leslie J. Kilgore sold 428 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $715.00, for a total value of $306,020.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 165,405 shares of company stock worth $129,623,487. 1.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. State Street Corp lifted its position in shares of Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after buying an additional 426,740 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Netflix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after buying an additional 123,029 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after buying an additional 316,594 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after buying an additional 5,748,200 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Netflix by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after buying an additional 23,702 shares during the last quarter. Hedge funds and other institutional investors 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.