Vetr Inc. Downgrades Netflix, Inc. (NFLX) to Hold
Netflix, Inc. (NASDAQ:NFLX) was downgraded by stock analysts at Vetr from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday. They presently have a $189.32 target price on the Internet television network’s stock. Vetr‘s price objective suggests a potential downside of 2.61% from the stock’s previous close.
Several other equities research analysts have also recently weighed in on NFLX. Robert W. Baird reaffirmed a “hold” rating and issued a $175.00 price target on shares of Netflix in a research report on Wednesday. Jefferies Group LLC reaffirmed a “hold” rating and issued a $165.00 price target (down previously from $171.80) on shares of Netflix in a research report on Wednesday, August 9th. Wedbush reaffirmed a “sell” rating on shares of Netflix in a research report on Wednesday, August 9th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Netflix in a research report on Wednesday, August 9th. Finally, BidaskClub cut shares of Netflix from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty-nine have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $181.03.
Netflix (NFLX) opened at 194.39 on Wednesday. The stock has a market capitalization of $83.93 billion, a price-to-earnings ratio of 236.48 and a beta of 1.09. The stock’s 50 day moving average is $177.87 and its 200 day moving average is $163.29. Netflix has a 12-month low of $97.63 and a 12-month high of $194.49.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.01). Netflix had a return on equity of 12.82% and a net margin of 3.55%. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same period in the previous year, the company posted $0.09 EPS. Netflix’s revenue for the quarter was up 32.3% on a year-over-year basis. Equities analysts predict that Netflix will post $1.17 earnings per share for the current fiscal year.
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In other Netflix news, CEO Reed Hastings sold 109,214 shares of Netflix stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $188.61, for a total transaction of $20,598,852.54. Following the completion of the sale, the chief executive officer now directly owns 109,214 shares in the company, valued at $20,598,852.54. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gregory K. Peters sold 12,768 shares of Netflix stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $177.38, for a total transaction of $2,264,787.84. Following the sale, the insider now owns 19,208 shares of the company’s stock, valued at $3,407,115.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 310,325 shares of company stock valued at $55,807,018. Company insiders own 4.90% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Calamos Advisors LLC grew its holdings in shares of Netflix by 198.5% in the second quarter. Calamos Advisors LLC now owns 208,945 shares of the Internet television network’s stock valued at $31,218,000 after purchasing an additional 138,945 shares in the last quarter. Alps Advisors Inc. acquired a new position in shares of Netflix in the second quarter valued at approximately $262,000. Guardian Life Insurance Co. of America grew its holdings in shares of Netflix by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,655 shares of the Internet television network’s stock valued at $245,000 after purchasing an additional 11 shares in the last quarter. Teachers Advisors LLC grew its holdings in shares of Netflix by 2.0% in the first quarter. Teachers Advisors LLC now owns 1,300,531 shares of the Internet television network’s stock valued at $192,231,000 after purchasing an additional 25,266 shares in the last quarter. Finally, Banco Santander S.A. acquired a new position in shares of Netflix in the first quarter valued at approximately $43,264,000. Institutional investors and hedge funds own 81.03% of the company’s stock.
Netflix Company Profile
Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.
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