Netflix (NASDAQ:NFLX) Rating Lowered to Hold at Loop Capital

Loop Capital lowered shares of Netflix (NASDAQ:NFLX) from a buy rating to a hold rating in a research note released on Monday morning, MarketBeat.com reports. The brokerage currently has $950.00 target price on the Internet television network’s stock, up from their previous target price of $800.00.

Several other research analysts also recently commented on the company. StockNews.com downgraded Netflix from a “buy” rating to a “hold” rating in a research note on Friday, December 13th. Pivotal Research raised their target price on shares of Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Piper Sandler reiterated an “overweight” rating and issued a $840.00 price target (up from $800.00) on shares of Netflix in a research report on Friday, October 18th. Needham & Company LLC raised their price objective on shares of Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Jefferies Financial Group lifted their target price on shares of Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Two analysts have 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $801.18.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $889.55 on Monday. Netflix has a 12-month low of $461.86 and a 12-month high of $941.75. The firm has a market capitalization of $380.25 billion, a price-to-earnings ratio of 50.34, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm has a 50 day moving average of $825.60 and a 200 day moving average of $725.33.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The firm had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. On average, research analysts anticipate that Netflix will post 19.78 earnings per share for the current year.

Insider Transactions at Netflix

In other Netflix news, Chairman Reed Hastings sold 45,290 shares of Netflix stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the completion of the transaction, the chairman now directly owns 85 shares of the company’s stock, valued at $60,023.60. The trade was a 99.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anne M. Sweeney sold 589 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were 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 90 days, insiders sold 164,977 shares of company stock worth $129,317,467. 1.76% of the stock is currently owned by company insiders.

Institutional Trading of Netflix

Several institutional investors have recently added to or reduced their stakes in NFLX. State Street Corp lifted its stake in shares of Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after acquiring an additional 426,740 shares during the last quarter. Geode Capital Management LLC increased its stake in Netflix by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after purchasing an additional 123,029 shares during the period. Jennison Associates LLC lifted its position in shares of Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after purchasing an additional 316,594 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after purchasing an additional 5,748,200 shares during the period. Finally, Wellington Management Group LLP grew its holdings in shares of Netflix by 0.5% in the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after purchasing an additional 23,702 shares during 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.