Netflix (NASDAQ:NFLX – Get Free Report)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a research note issued on Friday,Benzinga reports. They presently have a $1,500.00 price target on the Internet television network’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 23.58% from the stock’s previous close.
A number of other research firms also recently weighed in on NFLX. UBS Group raised their price target on shares of Netflix from $1,150.00 to $1,450.00 and gave the company a “buy” rating in a report on Wednesday, June 4th. Cfra Research upgraded shares of Netflix to a “strong-buy” rating in a research report on Monday, April 28th. Wedbush reiterated an “outperform” rating and set a $1,400.00 target price on shares of Netflix in a research report on Monday. Evercore ISI reiterated an “outperform” rating on shares of Netflix in a research report on Thursday, May 15th. Finally, Canaccord Genuity Group reiterated a “buy” rating on shares of Netflix in a research report on Thursday, July 10th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,263.94.
View Our Latest Analysis on Netflix
Netflix Stock Down 4.7%
Netflix (NASDAQ:NFLX – Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating analysts’ consensus estimates of $7.07 by $0.12. The business had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a net margin of 23.07% and a return on equity of 39.61%. Netflix’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the firm earned $4.88 EPS. As a group, equities analysts anticipate that Netflix will post 24.58 earnings per share for the current fiscal year.
Insider Activity at Netflix
In other news, Director Reed Hastings sold 9,673 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $1,329.11, for a total transaction of $12,856,481.03. Following the completion of the sale, the director owned 394 shares of the company’s stock, valued at $523,669.34. This represents a 96.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total transaction of $3,400,079.22. Following the sale, the chief financial officer directly owned 3,691 shares of the company’s stock, valued at $4,824,949.02. This represents a 41.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 186,723 shares of company stock valued at $223,307,201 over the last three months. Insiders own 1.37% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC lifted its stake in Netflix by 8.7% in the fourth quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network’s stock valued at $1,227,468,000 after acquiring an additional 110,432 shares during the last quarter. PharVision Advisers LLC acquired a new stake in shares of Netflix during the 4th quarter worth about $873,000. New England Research & Management Inc. lifted its stake in shares of Netflix by 148.5% during the 1st quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network’s stock worth $1,979,000 after buying an additional 1,268 shares during the last quarter. Xcel Wealth Management LLC lifted its stake in shares of Netflix by 15.2% during the 1st quarter. Xcel Wealth Management LLC now owns 492 shares of the Internet television network’s stock worth $459,000 after buying an additional 65 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Netflix by 6.1% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,638 shares of the Internet television network’s stock worth $50,952,000 after buying an additional 3,137 shares during the last quarter. Institutional investors and hedge funds 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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