Netflix Inc. (NFLX) Receives Buy Rating from MKM Partners
MKM Partners restated their buy rating on shares of Netflix Inc. (NASDAQ:NFLX) in a report published on Friday morning. The firm currently has a $130.00 price objective on the Internet television network’s stock.
Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. reissued an overweight rating and issued a $116.00 price objective (down from $125.00) on shares of Netflix in a research report on Tuesday, July 19th. Vetr raised Netflix from a hold rating to a buy rating and set a $103.71 price objective for the company in a research report on Thursday, September 8th. BMO Capital Markets reissued a market perform rating and issued a $85.00 price objective on shares of Netflix in a research report on Thursday, July 28th. Jefferies Group reissued an underperform rating and issued a $76.00 price objective on shares of Netflix in a research report on Friday, September 23rd. Finally, Stifel Nicolaus reissued a buy rating and issued a $120.00 price objective (down from $143.00) on shares of Netflix in a research report on Tuesday, July 19th. Eight equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-seven have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $110.29.
Netflix (NASDAQ:NFLX) traded down 2.43% during trading on Friday, hitting $99.00. 7,265,307 shares of the stock traded hands. The stock has a market cap of $42.44 billion, a PE ratio of 309.38 and a beta of 1.14. Netflix has a one year low of $79.95 and a one year high of $133.27. The company has a 50-day moving average price of $98.93 and a 200 day moving average price of $96.40.
In other news, Director Jay C. Hoag purchased 600,000 shares of the business’s stock in a transaction on Monday, July 25th. The shares were acquired at an average price of $86.43 per share, for a total transaction of $51,858,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Reed Hastings sold 116,431 shares of the stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $86.59, for a total value of $10,081,760.29. Following the completion of the transaction, the chief executive officer now owns 116,431 shares in the company, valued at approximately $10,081,760.29. The disclosure for this sale can be found here. 4.90% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in NFLX. National Pension Service raised its position 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 raised its position 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 purchased a new position in shares of Netflix during the third quarter valued at about $618,000. Capstone Asset Management Co. raised its position 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 purchased a new position in shares of Netflix during the third quarter valued at about $207,000. Institutional investors and hedge funds own 78.41% 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.
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