Rosenblatt Securities Reaffirms Neutral Rating for Netflix (NASDAQ:NFLX)

Netflix (NASDAQ:NFLX)‘s stock had its “neutral” rating reiterated by research analysts at Rosenblatt Securities in a report issued on Thursday,Benzinga reports. They currently have a $680.00 target price on the Internet television network’s stock. Rosenblatt Securities’ price objective would indicate a potential downside of 19.84% from the stock’s current price.

Several other research analysts also recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Jefferies Financial Group boosted their target price on shares of Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. TD Cowen increased their price target on shares of Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Bank of America boosted their price objective on shares of Netflix from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Loop Capital downgraded Netflix from a “buy” rating to a “hold” rating and upped their price objective for the stock from $800.00 to $950.00 in a report on Monday, December 16th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $845.82.

Netflix Stock Up 2.4 %

Shares of NFLX opened at $848.26 on Thursday. The company has a market capitalization of $362.60 billion, a P/E ratio of 48.01, a PEG ratio of 1.35 and a beta of 1.27. Netflix has a one year low of $475.26 and a one year high of $941.75. The business’s 50 day simple moving average is $881.04 and its 200-day simple moving average is $755.96. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. As a group, sell-side analysts predict that Netflix will post 19.78 EPS for the current fiscal year.

Insider Activity at Netflix

In other news, CEO Gregory K. Peters sold 4,186 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $750.00, for a total value of $3,139,500.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares in the company, valued at $9,817,500. This represents a 24.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anne M. Sweeney sold 589 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total transaction of $518,320.00. The disclosure for this sale can be found here. In the last three months, insiders sold 156,742 shares of company stock worth $131,030,268. 1.76% of the stock is owned by company insiders.

Institutional Trading of Netflix

Several hedge funds and other institutional investors have recently modified their holdings of the company. RPg Family Wealth Advisory LLC bought a new position in shares of Netflix during the third quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. boosted its position in Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after acquiring an additional 42 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of Netflix during the 3rd quarter worth approximately $37,000. FSA Wealth Management LLC acquired a new stake in shares of Netflix in the third quarter valued at approximately $38,000. Finally, First Personal Financial Services bought a new stake in shares of Netflix in the third quarter worth $40,000. Institutional investors and hedge funds 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.