Evercore ISI Initiates Coverage on Netflix (NFLX)
Equities research analysts at Evercore ISI began coverage on shares of Netflix (NASDAQ:NFLX) in a research note issued to investors on Wednesday. The firm set an “in-line” rating and a $210.00 price target on the Internet television network’s stock. Evercore ISI’s price objective points to a potential upside of 14.00% from the stock’s current price.
Other research analysts also recently issued research reports about the company. SunTrust Banks set a $175.00 target price on Netflix and gave the stock a “hold” rating in a research note on Monday, October 16th. Jefferies Group set a $190.00 price objective on Netflix and gave the company a “neutral” rating in a research note on Tuesday, October 17th. Wedbush set a $93.00 price objective on Netflix and gave the company a “sell” rating in a research note on Tuesday, October 17th. FBR & Co reaffirmed a “buy” rating and issued a $207.00 price objective (up previously from $172.00) on shares of Netflix in a research note on Tuesday, October 17th. Finally, Royal Bank Of Canada increased their target price on shares of Netflix from $210.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $209.65.
Netflix (NASDAQ:NFLX) traded up $0.17 during midday trading on Wednesday, hitting $184.21. 5,783,600 shares of the stock were exchanged, compared to its average volume of 6,668,612. The firm has a market capitalization of $79,340.00, a P/E ratio of 185.90, a PEG ratio of 5.47 and a beta of 1.33. Netflix has a 12 month low of $119.42 and a 12 month high of $204.38. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.47.
In related news, Director Richard N. Barton sold 2,000 shares of the stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $184.30, for a total value of $368,600.00. Following the transaction, the director now owns 8,012 shares of the company’s stock, valued at $1,476,611.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard N. Barton sold 700 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $197.38, for a total value of $138,166.00. Following the transaction, the director now directly owns 7,362 shares in the company, valued at approximately $1,453,111.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 323,935 shares of company stock valued at $62,565,812. 4.90% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC acquired a new stake in shares of Netflix during the third quarter valued at approximately $171,000. Public Employees Retirement System of Ohio increased its stake in Netflix by 0.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 285,901 shares of the Internet television network’s stock valued at $51,848,000 after buying an additional 877 shares during the period. Truepoint Inc. increased its stake in shares of Netflix by 18,035.0% during the 3rd quarter. Truepoint Inc. now owns 402,416 shares of the Internet television network’s stock worth $402,000 after purchasing an additional 400,197 shares during the last quarter. Salem Investment Counselors Inc. increased its stake in shares of Netflix by 161.0% during the 3rd quarter. Salem Investment Counselors Inc. now owns 15,967 shares of the Internet television network’s stock worth $2,837,000 after purchasing an additional 9,850 shares during the last quarter. Finally, Moors & Cabot Inc. bought a new stake in shares of Netflix during the 3rd quarter worth $215,000. Hedge funds and other institutional investors own 83.38% of the company’s stock.
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Netflix Company Profile
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.
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