Netflix (NASDAQ:NFLX) Given Outperform Rating at Oppenheimer

Oppenheimer reissued their outperform rating on shares of Netflix (NASDAQ:NFLX) in a research report report published on Friday morning, Benzinga reports. The firm currently has a $725.00 price objective on the Internet television network’s stock.

A number of other brokerages have also recently weighed in on NFLX. JPMorgan Chase & Co. increased their price target on shares of Netflix from $610.00 to $650.00 and gave the stock an overweight rating in a research note on Monday, April 8th. Jefferies Financial Group increased their price target on shares of Netflix from $580.00 to $700.00 and gave the stock a buy rating in a research note on Tuesday, March 12th. Citigroup upped their price objective on shares of Netflix from $555.00 to $660.00 and gave the stock a neutral rating in a research report on Monday, March 25th. Wells Fargo & Company upped their price objective on shares of Netflix from $650.00 to $726.00 and gave the stock an overweight rating in a research report on Friday. Finally, Canaccord Genuity Group reiterated a hold rating and issued a $585.00 price target (down previously from $720.00) on shares of Netflix in a report on Friday. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, Netflix presently has an average rating of Moderate Buy and a consensus price target of $630.58.

Netflix Trading Down 9.1 %

Shares of Netflix stock opened at $555.04 on Friday. The company has a fifty day simple moving average of $605.65 and a 200-day simple moving average of $513.07. Netflix has a 12-month low of $315.62 and a 12-month high of $639.00. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.69. The stock has a market cap of $240.20 billion, a price-to-earnings ratio of 38.52, a PEG ratio of 1.64 and a beta of 1.22.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. The firm had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.46%. Netflix’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.88 EPS. On average, equities analysts forecast that Netflix will post 17.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 20,566 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $610.42, for a total value of $12,553,897.72. Following the sale, the chairman now directly owns 28 shares of the company’s stock, valued at $17,091.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Netflix news, Chairman Reed Hastings sold 20,566 shares of Netflix stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the transaction, the chairman now directly owns 28 shares of the company’s stock, valued at $17,091.76. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Ann Mather sold 3,673 shares of Netflix stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total transaction of $2,203,800.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 268,335 shares of company stock valued at $151,619,811. Insiders own 2.45% of the company’s stock.

Institutional Trading of Netflix

A number of hedge funds have recently made changes to their positions in the company. Mezzasalma Advisors LLC raised its stake in shares of Netflix by 1.3% during the first quarter. Mezzasalma Advisors LLC now owns 6,861 shares of the Internet television network’s stock valued at $4,167,000 after purchasing an additional 90 shares during the period. FORVIS Wealth Advisors LLC raised its stake in shares of Netflix by 119.4% during the first quarter. FORVIS Wealth Advisors LLC now owns 974 shares of the Internet television network’s stock valued at $592,000 after purchasing an additional 530 shares during the period. Teamwork Financial Advisors LLC raised its stake in shares of Netflix by 3,476.5% during the first quarter. Teamwork Financial Advisors LLC now owns 15,987 shares of the Internet television network’s stock valued at $9,709,000 after purchasing an additional 15,540 shares during the period. Veracity Capital LLC raised its stake in shares of Netflix by 44.8% during the first quarter. Veracity Capital LLC now owns 640 shares of the Internet television network’s stock valued at $389,000 after purchasing an additional 198 shares during the period. Finally, Willis Johnson & Associates Inc. raised its stake in shares of Netflix by 9.0% during the first quarter. Willis Johnson & Associates Inc. now owns 1,030 shares of the Internet television network’s stock valued at $626,000 after purchasing an additional 85 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

About Netflix

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.