Netflix Inc. (NFLX) Given “Sell” Rating at Deutsche Bank AG
Netflix Inc. (NASDAQ:NFLX)‘s stock had its “sell” rating restated by equities researchers at Deutsche Bank AG in a research note issued on Tuesday. They presently have a $90.00 price objective on the Internet television network’s stock. Deutsche Bank AG’s price target would suggest a potential downside of 9.82% from the stock’s previous close.
Several other analysts have also issued reports on the company. Jefferies Group reiterated a “hold” rating and set a $120.00 price objective on shares of Netflix in a report on Monday, July 11th. Cowen and Company reiterated an “outperform” rating and set a $110.00 price objective on shares of Netflix in a report on Wednesday, October 12th. Cantor Fitzgerald reissued a “buy” rating on shares of Netflix in a research report on Sunday, August 14th. FBR & Co reissued a “market perform” rating and set a $90.00 target price (down from $104.00) on shares of Netflix in a research report on Sunday, July 17th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and set a $122.00 target price on shares of Netflix in a research report on Tuesday, July 12th. Seven equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $115.98.
Netflix (NASDAQ:NFLX) traded up 19.54% on Tuesday, hitting $119.30. The company had a trading volume of 33,260,497 shares. Netflix has a 12-month low of $79.95 and a 12-month high of $133.27. The firm’s 50 day moving average price is $98.99 and its 200 day moving average price is $96.28. The stock has a market cap of $51.15 billion, a P/E ratio of 372.81 and a beta of 1.14.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Monday, October 17th. The Internet television network reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.06. Netflix had a return on equity of 5.59% and a net margin of 1.85%. The business earned $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period last year, the company earned $0.07 earnings per share. Netflix’s quarterly revenue was up 31.7% compared to the same quarter last year. Equities analysts predict that Netflix will post $0.28 earnings per share for the current fiscal year.
In other news, Director Richard N. Barton sold 1,400 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $93.58, for a total value of $131,012.00. Following the sale, the director now directly owns 15,562 shares of the company’s stock, valued at approximately $1,456,291.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Reed Hastings sold 116,431 shares of the company’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $86.59, for a total transaction of $10,081,760.29. Following the completion of the sale, the chief executive officer now directly owns 116,431 shares in the company, valued at $10,081,760.29. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of NFLX. Cornerstone Advisors Inc. raised its position in shares of Netflix by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,118 shares of the Internet television network’s stock worth $102,000 after buying an additional 228 shares during the period. Signature Estate & Investment Advisors LLC bought a new position in shares of Netflix during the second quarter worth approximately $124,000. Quadrant Capital Group LLC raised its position in shares of Netflix by 15.1% in the second quarter. Quadrant Capital Group LLC now owns 1,475 shares of the Internet television network’s stock worth $126,000 after buying an additional 194 shares during the last quarter. Coconut Grove Bank raised its position in shares of Netflix by 1.7% in the second quarter. Coconut Grove Bank now owns 1,526 shares of the Internet television network’s stock worth $140,000 after buying an additional 26 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Netflix by 15.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,690 shares of the Internet television network’s stock worth $155,000 after buying an additional 224 shares during the last quarter. 78.41% of the stock is currently owned by institutional investors.
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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