Netflix (NASDAQ:NFLX) Research Coverage Started at China Renaissance

China Renaissance initiated coverage on shares of Netflix (NASDAQ:NFLX) in a research report released on Thursday morning, MarketBeat.com reports. The brokerage issued a hold rating and a $680.00 target price on the Internet television network’s stock.

Several other equities research analysts have also issued reports on the company. Bank of America raised their target price on Netflix from $700.00 to $740.00 and gave the company a buy rating in a research report on Monday, July 15th. TD Cowen lifted their price objective on shares of Netflix from $725.00 to $775.00 and gave the stock a buy rating in a research report on Tuesday, July 9th. Guggenheim increased their target price on shares of Netflix from $700.00 to $735.00 and gave the company a buy rating in a research report on Wednesday, July 17th. Morgan Stanley lifted their price target on shares of Netflix from $700.00 to $780.00 and gave the stock an overweight rating in a report on Monday, July 15th. Finally, Citigroup upped their price objective on Netflix from $660.00 to $675.00 and gave the company a neutral rating in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $685.29.

Netflix Stock Down 2.6 %

NFLX opened at $665.77 on Thursday. Netflix has a fifty-two week low of $344.73 and a fifty-two week high of $711.33. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The company’s 50-day moving average is $659.89 and its 200 day moving average is $634.23. The firm has a market capitalization of $286.95 billion, a P/E ratio of 46.20, a PEG ratio of 1.44 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. The firm had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The company’s revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.29 EPS. Research analysts expect that Netflix will post 19.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Netflix news, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Spencer Adam Neumann sold 433 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 157,831 shares of company stock worth $102,721,884. Insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

A number of large investors have recently modified their holdings of the company. Denver PWM LLC purchased a new position in shares of Netflix during the second quarter worth approximately $25,000. Valued Wealth Advisors LLC raised its position in Netflix by 80.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 20 shares during the period. Proffitt & Goodson Inc. lifted its stake in Netflix by 380.0% in the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 38 shares during the last quarter. AlphaMark Advisors LLC boosted its position in Netflix by 642.9% during the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after buying an additional 45 shares during the period. Finally, Indiana Trust & Investment Management CO grew its stake in shares of Netflix by 112.0% during the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after buying an additional 28 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

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.