Netflix Inc. (NFLX) Lowered to Buy at Vetr Inc.
Vetr lowered shares of Netflix Inc. (NASDAQ:NFLX) from a strong-buy rating to a buy rating in a report issued on Wednesday. They currently have $125.96 price target on the Internet television network’s stock.
Several other brokerages have also weighed in on NFLX. Cowen and Company reissued an outperform rating and set a $110.00 target price on shares of Netflix in a research report on Wednesday, October 12th. Guggenheim reissued a buy rating and set a $140.00 target price (up previously from $135.00) on shares of Netflix in a research report on Wednesday, October 26th. Cantor Fitzgerald reissued a buy rating on shares of Netflix in a research report on Sunday, August 14th. MKM Partners cut their target price on Netflix from $145.00 to $130.00 and set a buy rating on the stock in a research report on Wednesday, July 20th. Finally, Jefferies Group reiterated a sell rating and issued a $76.00 target price on shares of Netflix in a research note on Tuesday, September 6th. Eight analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $117.91.
Shares of Netflix (NASDAQ:NFLX) traded up 0.37% on Wednesday, reaching $115.62. The company’s stock had a trading volume of 2,244,323 shares. The company has a market capitalization of $49617.75 billion, a price-to-earnings ratio of 312.49 and a beta of 1.81. Netflix has a 1-year low of $79.95 and a 1-year high of $133.27. The stock has a 50-day moving average price of $113.95 and a 200-day moving average price of $99.64.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Monday, October 17th. The Internet television network reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. Netflix had a return on equity of 6.31% and a net margin of 1.99%. Netflix’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.07 EPS. On average, equities research analysts forecast that Netflix will post $0.40 EPS for the current year.
In related news, CEO Reed Hastings sold 102,340 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $95.21, for a total transaction of $9,743,791.40. Following the completion of the transaction, the chief executive officer now owns 102,340 shares of the company’s stock, valued at $9,743,791.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Richard N. Barton sold 700 shares of the business’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $96.90, for a total transaction of $67,830.00. Following the transaction, the director now directly owns 15,562 shares of the company’s stock, valued at approximately $1,507,957.80. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Scopia Capital Management LP boosted its position in shares of Netflix by 55.2% in the first quarter. Scopia Capital Management LP now owns 1,846,398 shares of the Internet television network’s stock valued at $188,757,000 after buying an additional 656,585 shares in the last quarter. Baillie Gifford & Co. boosted its position in shares of Netflix by 4.5% in the second quarter. Baillie Gifford & Co. now owns 7,316,440 shares of the Internet television network’s stock valued at $669,307,000 after buying an additional 314,275 shares in the last quarter. Private Capital Management Inc. purchased a new position in shares of Netflix during the second quarter valued at approximately $631,000. State Board of Administration of Florida Retirement System boosted its position in shares of Netflix by 17.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 615,420 shares of the Internet television network’s stock valued at $56,299,000 after buying an additional 93,313 shares in the last quarter. Finally, Advisory Services Network LLC boosted its position in shares of Netflix by 15.0% in the second quarter. Advisory Services Network LLC now owns 5,415 shares of the Internet television network’s stock valued at $495,000 after buying an additional 706 shares in the last quarter. 77.56% of the stock is 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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