Netflix (NASDAQ:NFLX) Downgraded to Hold Rating by StockNews.com

Netflix (NASDAQ:NFLX) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

A number of other research analysts also recently commented on the company. Jefferies Financial Group increased their price target on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. China Renaissance started coverage on shares of Netflix in a research report on Thursday, September 5th. They set a “hold” rating and a $680.00 price target for the company. JPMorgan Chase & Co. upped their price target on shares of Netflix from $850.00 to $1,010.00 and gave the company an “overweight” rating in a report on Wednesday. Evercore ISI raised their price objective on shares of Netflix from $775.00 to $950.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Finally, Wells Fargo & Company upped their target price on shares of Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $787.85.

Netflix Stock Down 0.7 %

Shares of NASDAQ NFLX traded down $6.68 during trading on Friday, reaching $918.87. 2,484,887 shares of the stock were exchanged, compared to its average volume of 3,623,790. The company has a market capitalization of $392.78 billion, a price-to-earnings ratio of 52.00, a price-to-earnings-growth ratio of 1.80 and a beta of 1.27. The business’s 50-day moving average price is $810.04 and its 200 day moving average price is $717.45. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix has a twelve month low of $461.86 and a twelve month high of $941.75.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. As a group, equities analysts forecast that Netflix will post 19.78 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, Chairman Reed Hastings sold 48,363 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total value of $43,362,265.80. Following the completion of the sale, the chairman now owns 114 shares in the company, valued at $102,212.40. This represents a 99.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Leslie J. Kilgore sold 428 shares of Netflix stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $715.00, for a total value of $306,020.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 165,405 shares of company stock valued at $129,623,487. Company insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Several institutional investors and hedge funds have recently added to or reduced their stakes in NFLX. RPg Family Wealth Advisory LLC acquired a new position in shares of Netflix in the 3rd quarter valued at $25,000. Denver PWM LLC acquired a new position in shares of Netflix in the second quarter worth about $25,000. Proffitt & Goodson Inc. increased its position in shares of 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 acquiring an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after acquiring an additional 42 shares during the period. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of Netflix in the 3rd quarter valued at approximately $37,000. 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.