Netflix’s (NFLX) Underweight Rating Reaffirmed at Barclays

Netflix (NASDAQ:NFLX)‘s stock had its “underweight” rating reiterated by Barclays in a research note issued to investors on Friday, Benzinga reports. They currently have a $550.00 price objective on the Internet television network’s stock. Barclays‘s target price would indicate a potential downside of 27.08% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Loop Capital lifted their target price on Netflix from $750.00 to $800.00 and gave the stock a “buy” rating in a report on Wednesday. Wells Fargo & Company upped their price target on Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research report on Friday. Jefferies Financial Group lifted their price target on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft lifted their price target on Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. upped their price objective on Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a report on Friday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $738.18.

Netflix Price Performance

Shares of Netflix stock traded up $66.63 during mid-day trading on Friday, reaching $754.28. 10,711,896 shares of the stock were exchanged, compared to its average volume of 3,697,382. Netflix has a fifty-two week low of $392.26 and a fifty-two week high of $763.41. The firm has a 50-day simple moving average of $693.78 and a 200 day simple moving average of $653.62. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The company has a market cap of $325.09 billion, a price-to-earnings ratio of 52.34, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The company had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The firm’s revenue was up 16.8% compared to the same quarter last year. During the same period last year, the company earned $3.29 earnings per share. On average, sell-side analysts predict that Netflix will post 19.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider David A. Hyman sold 20,656 shares of the company’s 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 completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $19,128,159.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Netflix news, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction on 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 completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gregory K. Peters sold 1,278 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total value of $785,254.32. Following the completion of the sale, the chief executive officer now owns 13,090 shares in the company, valued at $8,043,019.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 225,167 shares of company stock valued at $150,492,460. Insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several hedge funds have recently made changes to their positions in the company. DigitalBridge Group Inc. grew its position in Netflix by 35.5% during the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after purchasing an additional 9,451 shares during the period. M&G Plc acquired a new stake in Netflix in the 1st quarter valued at approximately $9,682,000. BSN CAPITAL PARTNERS Ltd grew its stake in shares of Netflix by 24.4% in the first quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock worth $155,185,000 after acquiring an additional 49,000 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Netflix by 58.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock valued at $55,968,000 after acquiring an additional 30,511 shares during the last quarter. Finally, First Trust Direct Indexing L.P. raised its holdings in shares of Netflix by 14.9% in the first quarter. First Trust Direct Indexing L.P. now owns 10,330 shares of the Internet television network’s stock valued at $6,274,000 after buying an additional 1,342 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

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.