Vetr Inc. Downgrades Netflix Inc. (NFLX) to Hold
Netflix Inc. (NASDAQ:NFLX) was downgraded by equities researchers at Vetr from a “buy” rating to a “hold” rating in a note issued to investors on Monday. They currently have a $105.11 price target on the Internet television network’s stock. Vetr‘s price objective points to a potential upside of 3.59% from the company’s previous close.
Other analysts have also issued reports about the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $140.00 price target on shares of Netflix in a research report on Tuesday, June 28th. Jefferies Group reaffirmed an “underperform” rating and set a $76.00 price target (down from $80.00) on shares of Netflix in a research report on Sunday, July 17th. Wedbush reaffirmed an “underperform” rating and set a $50.00 price target (up from $45.00) on shares of Netflix in a research report on Sunday, July 17th. SunTrust Banks Inc. reaffirmed a “hold” rating on shares of Netflix in a research report on Sunday, July 17th. Finally, BTIG Research reaffirmed a “buy” rating and set a $130.00 price target (down from $150.00) on shares of Netflix in a research report on Sunday, July 17th. Eight equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $110.29.
Netflix (NASDAQ:NFLX) opened at 101.47 on Monday. Netflix has a 12-month low of $79.95 and a 12-month high of $133.27. The company has a market capitalization of $43.50 billion, a P/E ratio of 317.09 and a beta of 1.14. The stock’s 50 day moving average is $98.93 and its 200-day moving average is $96.40.
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In related news, Director Jay C. Hoag acquired 600,000 shares of the stock in a transaction on Monday, July 25th. The stock was purchased at an average price of $86.43 per share, for a total transaction of $51,858,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard N. Barton sold 2,800 shares of the business’s stock in a transaction that occurred on Thursday, October 6th. The shares were sold at an average price of $104.27, for a total value of $291,956.00. Following the completion of the sale, the director now owns 15,254 shares of the company’s stock, valued at approximately $1,590,534.58. The disclosure for this sale can be found here. 4.90% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in NFLX. National Pension Service increased its stake in shares of Netflix by 8.7% in the third quarter. National Pension Service now owns 272,049 shares of the Internet television network’s stock valued at $26,810,000 after buying an additional 21,790 shares during the last quarter. Highland Capital Management LLC increased its stake in shares of Netflix by 218.5% in the third quarter. Highland Capital Management LLC now owns 10,350 shares of the Internet television network’s stock valued at $1,020,000 after buying an additional 7,100 shares during the last quarter. Hollencrest Securities LLC bought a new stake in shares of Netflix during the third quarter valued at $618,000. Capstone Asset Management Co. increased its stake in shares of Netflix by 3.3% in the third quarter. Capstone Asset Management Co. now owns 29,406 shares of the Internet television network’s stock valued at $2,898,000 after buying an additional 938 shares during the last quarter. Finally, Grassi Investment Management bought a new stake in shares of Netflix during the third quarter valued at $207,000. Hedge funds and other institutional investors own 78.43% of the company’s stock.
Netflix Company Profile
Netflix, Inc (Netflix) is a provider of Internet television network. The Company’s members can watch original series, documentaries and feature films in Internet-connected screen. The Company has three operating segments: Domestic streaming, International streaming and Domestic DVD. The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content.
To view Vetr’s full report, visit Vetr’s official website.
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