Netflix (NASDAQ:NFLX) Earns Hold Rating from Canaccord Genuity Group

Netflix (NASDAQ:NFLX)‘s stock had its “hold” rating reissued by equities research analysts at Canaccord Genuity Group in a research note issued on Friday, MarketBeat reports. They currently have a $585.00 price objective on the Internet television network’s stock, down from their prior price objective of $720.00. Canaccord Genuity Group’s price target suggests a potential upside of 5.40% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Evercore ISI lifted their target price on Netflix from $600.00 to $640.00 and gave the stock an “outperform” rating in a report on Thursday, March 14th. BMO Capital Markets reissued an “outperform” rating and set a $713.00 target price (up previously from $638.00) on shares of Netflix in a report on Wednesday. Piper Sandler lifted their target price on Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. TD Cowen lifted their target price on Netflix from $600.00 to $725.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, Redburn Atlantic raised their price target on Netflix from $550.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, the stock 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 business has a fifty day simple moving average of $605.65 and a two-hundred day simple moving average of $514.02. Netflix has a 1 year low of $315.62 and a 1 year high of $639.00. The company has a market capitalization of $240.20 billion, a price-to-earnings ratio of 38.52, a P/E/G ratio of 1.64 and a beta of 1.22. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.12.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.77. Netflix had a return on equity of 29.46% and a net margin of 18.42%. The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. During the same quarter last year, the firm posted $2.88 EPS. The company’s quarterly revenue was up 14.8% on a year-over-year basis. Research analysts forecast that Netflix will post 17.08 EPS for the current year.

Insider Buying and Selling

In related news, insider David A. Hyman sold 47,574 shares of Netflix stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total value of $25,591,006.08. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $17,003,651.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Netflix news, insider David A. Hyman sold 47,574 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total value of $25,591,006.08. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $17,003,651.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Reed Hastings sold 20,566 shares of the business’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 completion of the transaction, the chairman now directly owns 28 shares in the company, valued at $17,091.76. The disclosure for this sale can be found here. Insiders have sold a total of 268,335 shares of company stock valued at $151,619,811 over the last ninety days. 2.45% of the stock is owned by company insiders.

Institutional Investors Weigh In On Netflix

Hedge funds and other institutional investors have recently modified their holdings of the company. Indiana Trust & Investment Management CO increased its holdings in shares of Netflix by 112.0% during the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 28 shares in the last quarter. VitalStone Financial LLC increased its holdings in shares of Netflix by 933.3% during the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after acquiring an additional 56 shares in the last quarter. Scarborough Advisors LLC bought a new stake in shares of Netflix during the fourth quarter valued at approximately $32,000. Aspect Partners LLC bought a new stake in shares of Netflix during the fourth quarter valued at approximately $32,000. Finally, Authentikos Wealth Advisory LLC bought a new stake in Netflix during the third quarter worth $25,000. 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.