Netflix (NASDAQ:NFLX) Rating Reiterated by Truist Financial

Netflix (NASDAQ:NFLX)‘s stock had its “hold” rating restated by stock analysts at Truist Financial in a report released on Friday, Benzinga reports. They currently have a $485.00 price target on the Internet television network’s stock. Truist Financial’s target price indicates a potential upside of 22.18% from the stock’s current price.

Several other research analysts have also issued reports on the stock. StockNews.com started coverage on shares of Netflix in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Wolfe Research raised their price objective on shares of Netflix from $485.00 to $500.00 in a research note on Thursday, July 20th. Guggenheim restated a “buy” rating and issued a $500.00 price target on shares of Netflix in a research report on Thursday, July 20th. Canaccord Genuity Group raised their target price on Netflix from $470.00 to $525.00 and gave the stock a “buy” rating in a report on Thursday, July 20th. Finally, Pivotal Research lifted their price objective on shares of Netflix from $535.00 to $600.00 in a research note on Thursday, July 20th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $432.91.

Netflix Stock Down 0.9 %

Shares of NASDAQ:NFLX opened at $396.94 on Friday. Netflix has a 12 month low of $211.73 and a 12 month high of $485.00. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.62. The company’s 50-day moving average price is $430.91 and its two-hundred day moving average price is $384.11. The firm has a market cap of $175.90 billion, a P/E ratio of 42.27, a P/E/G ratio of 1.33 and a beta of 1.29.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Wednesday, July 19th. The Internet television network reported $3.29 EPS for the quarter, beating the consensus estimate of $2.85 by $0.44. The business had revenue of $8.19 billion for the quarter, compared to analysts’ expectations of $8.29 billion. Netflix had a net margin of 13.22% and a return on equity of 19.76%. Netflix’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.20 earnings per share. As a group, research analysts forecast that Netflix will post 11.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other Netflix news, Director Richard N. Barton sold 500 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $443.07, for a total transaction of $221,535.00. Following the transaction, the director now owns 152 shares of the company’s stock, valued at approximately $67,346.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Jay C. Hoag sold 943 shares of the business’s stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $450.00, for a total transaction of $424,350.00. Following the transaction, the director now directly owns 421,491 shares of the company’s stock, valued at approximately $189,670,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard N. Barton sold 500 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $443.07, for a total transaction of $221,535.00. Following the completion of the transaction, the director now owns 152 shares in the company, valued at $67,346.64. The disclosure for this sale can be found here. Insiders have sold 125,377 shares of company stock valued at $54,547,674 in the last 90 days. 2.45% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Netflix

Several institutional investors and hedge funds have recently modified their holdings of NFLX. IMS Capital Management acquired a new position in shares of Netflix in the second quarter valued at approximately $273,000. Farther Finance Advisors LLC grew its position in shares of Netflix by 12.7% in the second quarter. Farther Finance Advisors LLC now owns 605 shares of the Internet television network’s stock valued at $266,000 after purchasing an additional 68 shares during the last quarter. Prosperity Wealth Management Inc. acquired a new position in Netflix in the 2nd quarter valued at $282,000. Jag Capital Management LLC grew its holdings in Netflix by 467.1% in the 2nd quarter. Jag Capital Management LLC now owns 39,679 shares of the Internet television network’s stock valued at $17,478,000 after buying an additional 32,682 shares in the last quarter. Finally, ST Germain D J Co. Inc. acquired a new position in Netflix in the 2nd quarter valued at $22,195,000. 79.95% of the stock is currently owned by institutional investors and hedge funds.

Netflix Company Profile

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