Netflix, Inc. (NFLX) Upgraded by Vetr Inc. to Sell
Netflix, Inc. (NASDAQ:NFLX) was upgraded by equities researchers at Vetr from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Thursday. The firm presently has a $163.64 price objective on the Internet television network’s stock. Vetr‘s price target would indicate a potential downside of 10.42% from the stock’s previous close.
NFLX has been the topic of a number of other reports. Raymond James Financial, Inc. restated an “outperform” rating and issued a $205.00 price target (up from $165.00) on shares of Netflix in a research note on Tuesday, July 18th. FBR & Co restated a “hold” rating and issued a $144.00 price target on shares of Netflix in a research note on Tuesday, April 11th. Guggenheim lifted their price target on Netflix from $160.00 to $173.00 and gave the company a “buy” rating in a research note on Tuesday, April 18th. William Blair restated an “outperform” rating and issued a $165.00 price target on shares of Netflix in a research note on Saturday, April 22nd. Finally, Cantor Fitzgerald lifted their price target on Netflix from $165.00 to $190.00 and gave the company an “overweight” rating in a research note on Tuesday, June 6th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-nine have issued a buy rating to the stock. Netflix currently has an average rating of “Buy” and a consensus price target of $174.36.
Shares of Netflix (NASDAQ NFLX) traded down 3.38% on Thursday, hitting $182.68. The stock had a trading volume of 11,220,982 shares. Netflix has a 12 month low of $90.50 and a 12 month high of $190.00. The stock has a market cap of $78.87 billion, a P/E ratio of 222.24 and a beta of 0.98. The firm has a 50 day moving average of $161.21 and a 200 day moving average of $150.32.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.01. Netflix had a net margin of 3.55% and a return on equity of 12.82%. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter last year, the firm earned $0.09 earnings per share. The firm’s quarterly revenue was up 32.3% compared to the same quarter last year. On average, equities analysts forecast that Netflix will post $1.16 earnings per share for the current fiscal year.
In other news, insider Gregory K. Peters sold 6,853 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $164.29, for a total transaction of $1,125,879.37. Following the sale, the insider now directly owns 19,943 shares in the company, valued at approximately $3,276,435.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Reed Hastings sold 115,577 shares of the stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $152.63, for a total value of $17,640,517.51. Following the sale, the chief executive officer now owns 115,577 shares in the company, valued at $17,640,517.51. The disclosure for this sale can be found here. Insiders have sold a total of 433,801 shares of company stock worth $71,702,221 over the last quarter. Insiders own 4.90% of the company’s stock.
A number of hedge funds have recently bought and sold shares of NFLX. M Holdings Securities Inc. acquired a new stake in Netflix during the fourth quarter valued at approximately $304,000. Highbridge Capital Management LLC boosted its stake in Netflix by 1,108.0% in the fourth quarter. Highbridge Capital Management LLC now owns 3,624 shares of the Internet television network’s stock valued at $448,000 after buying an additional 3,324 shares in the last quarter. Toth Financial Advisory Corp acquired a new stake in Netflix during the first quarter valued at approximately $600,000. Atalanta Sosnoff Capital LLC acquired a new stake in Netflix during the first quarter valued at approximately $379,000. Finally, Chevy Chase Trust Holdings Inc. boosted its stake in Netflix by 3.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 373,360 shares of the Internet television network’s stock valued at $55,187,000 after buying an additional 12,440 shares in the last quarter. Hedge funds and other institutional investors own 82.82% of the company’s stock.
Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.
To view Vetr’s full report, visit Vetr’s official website.
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