Canaccord Genuity Group Reiterates Hold Rating for Netflix (NASDAQ:NFLX)

Netflix (NASDAQ:NFLX)‘s stock had its “hold” rating reaffirmed by equities research analysts at Canaccord Genuity Group in a note issued to investors on Friday, Marketbeat reports. They currently have a $585.00 target price on the Internet television network’s stock, down from their previous target price of $720.00. Canaccord Genuity Group’s price objective points to a potential upside of 5.40% from the company’s previous close.

NFLX has been the subject of a number of other research reports. Wedbush increased their target price on shares of Netflix from $615.00 to $725.00 and gave the company an “outperform” rating in a research report on Wednesday, March 27th. Guggenheim increased their target price on shares of Netflix from $600.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. The Goldman Sachs Group increased their target price on shares of Netflix from $500.00 to $565.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. KeyCorp increased their target price on shares of Netflix from $580.00 to $705.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Finally, TD Cowen raised their price objective on shares of Netflix from $600.00 to $725.00 and gave the company a “buy” rating in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $630.58.

Netflix Stock Down 9.1 %

NFLX stock opened at $555.04 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. Netflix has a fifty-two week low of $315.62 and a fifty-two week high of $639.00. The firm’s 50-day simple moving average is $605.65 and its 200 day simple moving average is $514.02. The stock has a market cap of $240.20 billion, a PE ratio of 38.52, a price-to-earnings-growth ratio of 1.64 and a beta of 1.22.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.46%. The business had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. During the same quarter last year, the company earned $2.88 EPS. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, sell-side analysts predict that Netflix will post 17.08 EPS for the current year.

Insider Transactions at Netflix

In other news, CEO Theodore A. Sarandos sold 68,957 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $561.33, for a total value of $38,707,632.81. Following the completion of the sale, the chief executive officer now directly owns 1,278 shares of the company’s stock, valued at $717,379.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Spencer Adam Neumann sold 565 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $565.37, for a total transaction of $319,434.05. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Theodore A. Sarandos sold 68,957 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the transaction, the chief executive officer now directly owns 1,278 shares in the company, valued at approximately $717,379.74. The disclosure for this sale can be found here. Insiders sold 268,335 shares of company stock valued at $151,619,811 over the last three months. 2.45% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Netflix

A number of institutional investors have recently modified their holdings of NFLX. Authentikos Wealth Advisory LLC bought a new position in shares of Netflix in the third quarter valued at approximately $25,000. Spartan Planning & Wealth Management bought a new position in shares of Netflix in the third quarter valued at approximately $26,000. Carmel Capital Partners LLC raised its position in shares of Netflix by 290.0% in the third quarter. Carmel Capital Partners LLC now owns 78 shares of the Internet television network’s stock valued at $30,000 after purchasing an additional 58 shares during the period. VitalStone Financial LLC raised its position in shares of Netflix by 933.3% in the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after purchasing an additional 56 shares during the period. Finally, Beaird Harris Wealth Management LLC raised its position in shares of Netflix by 1,550.0% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 62 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.