Netflix (NASDAQ:NFLX) Receives “Sell” Rating from Benchmark

Benchmark reaffirmed their sell rating on shares of Netflix (NASDAQ:NFLX) in a research report sent to investors on Thursday morning, Benzinga reports. Benchmark currently has a $440.00 target price on the Internet television network’s stock.

Several other research firms have also recently commented on NFLX. Piper Sandler upped their target price on shares of Netflix from $550.00 to $600.00 and gave the company a neutral rating in a research note on Friday, April 12th. Seaport Res Ptn cut shares of Netflix from a buy rating to a neutral rating in a research note on Tuesday, January 30th. Wedbush boosted their price target on Netflix from $615.00 to $725.00 and gave the company an outperform rating in a research note on Wednesday, March 27th. KeyCorp raised their price objective on Netflix from $580.00 to $705.00 and gave the stock an overweight rating in a research report on Wednesday, March 20th. Finally, Pivotal Research boosted their price objective on Netflix from $700.00 to $765.00 and gave the company a buy rating in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $614.75.

Netflix Trading Down 0.5 %

Shares of NASDAQ:NFLX opened at $610.56 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.12 and a current ratio of 1.12. The stock’s 50-day moving average is $605.77 and its 200-day moving average is $511.86. The company has a market cap of $264.23 billion, a P/E ratio of 50.84, a P/E/G ratio of 1.65 and a beta of 1.22. Netflix has a 52-week low of $315.62 and a 52-week high of $639.00.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a return on equity of 24.76% and a net margin of 16.04%. The firm had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. During the same quarter last year, the firm posted $2.88 EPS. The company’s revenue was up 14.8% on a year-over-year basis. Equities research analysts predict that Netflix will post 17.05 earnings per share for the current year.

Insiders Place Their Bets

In other news, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the transaction, the chairman now owns 28 shares of the company’s stock, valued at approximately $17,091.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Chairman Reed Hastings sold 20,566 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the sale, the chairman now directly owns 28 shares of the company’s stock, valued at approximately $17,091.76. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gregory K. Peters sold 5,352 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $625.00, for a total transaction of $3,345,000.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares in the company, valued at $8,181,250. The disclosure for this sale can be found here. In the last 90 days, insiders sold 268,335 shares of company stock valued at $151,619,811. Company insiders own 2.45% of the company’s stock.

Institutional Trading of Netflix

A number of large investors have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Netflix in the fourth quarter worth about $2,558,598,000. Wellington Management Group LLP boosted its holdings in shares of Netflix by 540.9% in the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock valued at $1,888,503,000 after buying an additional 3,273,592 shares during the period. Moneta Group Investment Advisors LLC increased its position in shares of Netflix by 117,939.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,742,048 shares of the Internet television network’s stock worth $808,575,000 after acquiring an additional 2,739,725 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Netflix by 15,039.1% during the fourth quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock worth $1,010,553,000 after acquiring an additional 2,061,859 shares during the period. Finally, Jennison Associates LLC lifted its position in Netflix by 40.6% in the 4th quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after acquiring an additional 1,573,978 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix Company Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.