Netflix (NASDAQ:NFLX) Cut to “Hold” at Erste Group Bank

Erste Group Bank downgraded shares of Netflix (NASDAQ:NFLX) from a buy rating to a hold rating in a report published on Friday, MarketBeat Ratings reports.

Other analysts also recently issued reports about the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Netflix in a research report on Wednesday, October 8th. Jefferies Financial Group reiterated a “buy” rating and set a $1,500.00 target price on shares of Netflix in a research report on Wednesday, October 22nd. Cowen reiterated a “buy” rating on shares of Netflix in a research report on Tuesday, October 7th. Barclays reiterated a “sell” rating and set a $1,100.00 target price (up from $1,000.00) on shares of Netflix in a research report on Wednesday, July 9th. Finally, Seaport Res Ptn upgraded Netflix from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,341.12.

Netflix Stock Up 2.7%

Shares of NFLX opened at $1,118.86 on Friday. The company has a market cap of $474.10 billion, a PE ratio of 46.74, a P/E/G ratio of 1.91 and a beta of 1.59. The business has a fifty day moving average of $1,195.64 and a 200 day moving average of $1,196.49. Netflix has a 52-week low of $747.77 and a 52-week high of $1,341.15. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.56.

Netflix shares are set to split on Monday, November 17th. The 10-1 split was announced on Thursday, October 30th. The newly minted shares will be payable to shareholders after the closing bell on Friday, November 14th.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, October 21st. The Internet television network reported $5.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.88 by ($1.01). The company had revenue of $11.51 billion during the quarter, compared to the consensus estimate of $11.52 billion. Netflix had a return on equity of 41.86% and a net margin of 24.05%.The firm’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.40 earnings per share. Netflix has set its FY 2025 guidance at EPS. Q4 2025 guidance at 5.450-5.450 EPS. On average, sell-side analysts expect that Netflix will post 24.58 EPS for the current year.

Insider Activity

In other news, CFO Spencer Adam Neumann sold 2,600 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $1,172.51, for a total transaction of $3,048,526.00. Following the transaction, the chief financial officer owned 3,691 shares in the company, valued at approximately $4,327,734.41. This trade represents a 41.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider David A. Hyman sold 424 shares of Netflix stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $1,158.67, for a total value of $491,276.08. Following the completion of the transaction, the insider owned 31,610 shares in the company, valued at $36,625,558.70. This trade represents a 1.32% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 78,734 shares of company stock valued at $93,224,176. Company insiders own 1.37% of the company’s stock.

Hedge Funds Weigh In On Netflix

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Retirement Wealth Solutions LLC purchased a new position in Netflix in the third quarter valued at about $28,000. Legacy Investment Solutions LLC purchased a new position in Netflix in the second quarter valued at about $31,000. Steph & Co. grew its stake in Netflix by 188.9% in the third quarter. Steph & Co. now owns 26 shares of the Internet television network’s stock valued at $31,000 after purchasing an additional 17 shares during the last quarter. Stephens Consulting LLC grew its stake in Netflix by 150.0% in the second quarter. Stephens Consulting LLC now owns 25 shares of the Internet television network’s stock valued at $33,000 after purchasing an additional 15 shares during the last quarter. Finally, Rossby Financial LCC purchased a new position in Netflix in the second quarter valued at about $35,000. Hedge funds and other 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.