Netflix (NASDAQ:NFLX) Given Hold Rating at Canaccord Genuity Group

Canaccord Genuity Group restated their hold rating on shares of Netflix (NASDAQ:NFLX) in a research report released on Friday, Marketbeat.com reports. Canaccord Genuity Group currently has a $585.00 price objective on the Internet television network’s stock, down from their previous price objective of $720.00.

NFLX has been the topic of a number of other research reports. Wells Fargo & Company boosted their price objective on shares of Netflix from $460.00 to $650.00 and gave the stock an overweight rating in a research report on Wednesday, January 24th. Robert W. Baird boosted their price objective on shares of Netflix from $500.00 to $600.00 and gave the stock an outperform rating in a research report on Wednesday, January 24th. TD Cowen boosted their price objective on shares of Netflix from $600.00 to $725.00 and gave the stock a buy rating in a research report on Monday, April 8th. Redburn Atlantic boosted their price objective on shares of Netflix from $550.00 to $610.00 and gave the stock a buy rating in a research report on Wednesday, January 24th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Netflix from $525.00 to $550.00 and gave the stock a hold rating in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, Netflix presently has a consensus rating of Moderate Buy and a consensus target price of $630.58.

Netflix Stock Down 9.1 %

Netflix stock opened at $555.04 on Friday. The company’s 50 day simple moving average is $605.65 and its 200 day simple moving average is $513.07. Netflix has a fifty-two week low of $315.62 and a fifty-two week high of $639.00. The firm has a market capitalization of $240.20 billion, a price-to-earnings ratio of 38.52, a PEG 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 for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.46%. The firm had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. During the same quarter in the previous year, the firm posted $2.88 earnings per share. The business’s revenue was up 14.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Netflix will post 17.08 EPS for the current year.

Insider Buying and Selling at Netflix

In other Netflix news, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the completion of the sale, the chairman now owns 28 shares of the company’s stock, valued at approximately $17,091.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider David A. Hyman sold 47,574 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $17,003,651.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Reed Hastings sold 20,566 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the sale, the chairman now directly owns 28 shares of the company’s stock, valued at approximately $17,091.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 268,335 shares of company stock valued at $151,619,811. 2.45% of the stock is currently owned by company insiders.

Institutional Trading of Netflix

Large investors have recently modified their holdings of the stock. Norges Bank bought a new position in shares of Netflix in the 4th quarter worth $2,558,598,000. Wellington Management Group LLP lifted its holdings in shares of Netflix by 540.9% in the 4th quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after purchasing an additional 3,273,592 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in shares of Netflix by 117,939.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,742,048 shares of the Internet television network’s stock worth $808,575,000 after purchasing an additional 2,739,725 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Netflix by 15,039.1% in the 4th quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock worth $1,010,553,000 after purchasing an additional 2,061,859 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Netflix by 40.6% in the 4th quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after purchasing an additional 1,573,978 shares in the last quarter. Institutional investors and hedge funds 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.