Netflix (NASDAQ:NFLX) Lowered to “Sell” at BidaskClub

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BidaskClub downgraded shares of Netflix (NASDAQ:NFLX) from a hold rating to a sell rating in a research report report published on Thursday, BidAskClub reports.

Several other equities research analysts also recently issued reports on NFLX. Evercore ISI reaffirmed an outperform rating and set a $380.00 price target (up previously from $350.00) on shares of Netflix in a report on Wednesday, July 10th. Buckingham Research raised their price target on United Continental from $109.00 to $111.00 and gave the company a buy rating in a report on Wednesday, April 17th. Loop Capital initiated coverage on TENCENT HOLDING/ADR in a report on Monday, June 3rd. They set a buy rating for the company. Royal Bank of Canada reaffirmed a neutral rating and set a $145.00 price target on shares of Travelers Companies in a report on Thursday, April 18th. Finally, Wolfe Research initiated coverage on Netflix in a report on Thursday, June 20th. They set an outperform rating and a $442.00 price target for the company. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $390.47.

NASDAQ:NFLX opened at $315.10 on Thursday. Netflix has a 1-year low of $231.23 and a 1-year high of $386.80. The company has a quick ratio of 0.61, a current ratio of 0.85 and a debt-to-equity ratio of 2.06. The firm has a fifty day moving average price of $361.42. The company has a market capitalization of $137.77 billion, a PE ratio of 117.57, a PEG ratio of 3.19 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last released its earnings results on Wednesday, July 17th. The Internet television network reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. Netflix had a net margin of 6.53% and a return on equity of 20.88%. The business had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.93 billion. During the same period last year, the business earned $0.85 earnings per share. The firm’s revenue was up 26.0% on a year-over-year basis. Research analysts predict that Netflix will post 3.28 EPS for the current year.

In other news, Director Ann Mather sold 1,208 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $375.00, for a total transaction of $453,000.00. Following the sale, the director now directly owns 357 shares in the company, valued at $133,875. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Reed Hastings sold 51,898 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $372.89, for a total value of $19,352,245.22. Following the sale, the chief executive officer now owns 51,898 shares in the company, valued at $19,352,245.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,520 shares of company stock worth $39,835,842. Company insiders own 4.29% of the company’s stock.

Several large investors have recently added to or reduced their stakes in NFLX. Clarfeld Financial Advisors LLC bought a new stake in shares of Netflix during the fourth quarter worth about $27,000. TCG Advisors LP bought a new stake in shares of Netflix during the first quarter worth about $36,000. Joseph P. Lucia & Associates LLC bought a new stake in shares of Netflix during the first quarter worth about $44,000. SevenBridge Financial Group LLC grew its holdings in shares of Netflix by 66.7% during the second quarter. SevenBridge Financial Group LLC now owns 125 shares of the Internet television network’s stock worth $46,000 after purchasing an additional 50 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC grew its holdings in shares of Netflix by 182.0% during the first quarter. Thompson Siegel & Walmsley LLC now owns 141 shares of the Internet television network’s stock worth $50,000 after purchasing an additional 91 shares during the last quarter. Institutional investors own 77.02% of the company’s stock.

About Netflix

Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

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