Netflix (NASDAQ:NFLX – Get Free Report) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.
A number of other brokerages have also commented on NFLX. Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a research note on Friday, October 18th. China Renaissance started coverage on shares of Netflix in a research report on Thursday, September 5th. They issued a “hold” rating and a $680.00 target price on the stock. Evercore ISI raised their price objective on Netflix from $775.00 to $950.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Canaccord Genuity Group upped their target price on shares of Netflix from $760.00 to $940.00 and gave the stock a “hold” rating in a research note on Monday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $807.70.
Check Out Our Latest Report on Netflix
Netflix Stock Performance
Netflix (NASDAQ:NFLX – Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. Analysts predict that Netflix will post 19.78 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, insider David A. Hyman sold 267 shares of the 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 transaction, the insider now directly owns 31,610 shares in the company, valued at $24,202,828.70. This represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $896.60, for a total value of $43,362,265.80. Following the transaction, the chairman now owns 114 shares in the company, valued at approximately $102,212.40. This trade represents a 99.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 164,977 shares of company stock valued at $129,317,467 over the last three months. 1.76% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Netflix
Institutional investors have recently modified their holdings of the business. Atlantic Union Bankshares Corp bought a new position in shares of Netflix in the 2nd quarter valued at about $203,000. Clear Creek Financial Management LLC grew its position in shares of Netflix by 3.9% in the 2nd quarter. Clear Creek Financial Management LLC now owns 742 shares of the Internet television network’s stock valued at $501,000 after buying an additional 28 shares during the last quarter. AMG National Trust Bank increased its position in shares of Netflix by 35.9% during the second quarter. AMG National Trust Bank now owns 2,644 shares of the Internet television network’s stock worth $1,784,000 after buying an additional 698 shares during the period. Raymond James Trust N.A. boosted its holdings in shares of Netflix by 3.3% during the 2nd quarter. Raymond James Trust N.A. now owns 8,903 shares of the Internet television network’s stock worth $6,008,000 after buying an additional 283 shares in the last quarter. Finally, Patten Group Inc. raised its stake in Netflix by 12.3% during the 2nd quarter. Patten Group Inc. now owns 602 shares of the Internet television network’s stock worth $406,000 after buying an additional 66 shares during the period. Institutional investors own 80.93% of the company’s stock.
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.
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