Netflix (NASDAQ:NFLX) Coverage Initiated by Analysts at CICC Research

CICC Research began coverage on shares of Netflix (NASDAQ:NFLX) in a report released on Thursday morning, Benzinga reports. The brokerage issued an outperform rating and a $650.00 price objective on the Internet television network’s stock.

Other equities research analysts have also issued reports about the stock. Sanford C. Bernstein increased their target price on shares of Netflix from $490.00 to $600.00 and gave the stock a market perform rating in a research note on Friday, April 19th. Bank of America raised their price objective on Netflix from $650.00 to $700.00 and gave the company a buy rating in a report on Friday, April 19th. TD Cowen upped their target price on Netflix from $600.00 to $725.00 and gave the stock a buy rating in a research note on Monday, April 8th. Jefferies Financial Group lifted their price target on shares of Netflix from $580.00 to $700.00 and gave the company a buy rating in a research note on Tuesday, March 12th. Finally, Morgan Stanley increased their price objective on shares of Netflix from $600.00 to $700.00 and gave the company an overweight rating in a report on Friday, April 12th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, Netflix presently has a consensus rating of Moderate Buy and an average price target of $631.15.

Netflix Stock Up 2.5 %

Shares of NFLX stock opened at $579.34 on Thursday. Netflix has a twelve month low of $317.95 and a twelve month high of $639.00. The stock has a market cap of $249.67 billion, a P/E ratio of 40.20, a P/E/G ratio of 1.37 and a beta of 1.23. The stock has a 50 day moving average of $602.66 and a 200 day moving average of $524.81. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The firm had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. During the same period in the previous year, the firm earned $2.88 EPS. The business’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, sell-side analysts expect that Netflix will post 18.3 EPS for the current year.

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 18,361 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $551.54, for a total transaction of $10,126,825.94. Following the transaction, the chairman now directly owns 28 shares in the company, valued at $15,443.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Reed Hastings sold 18,361 shares of Netflix stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $551.54, for a total value of $10,126,825.94. Following the completion of the transaction, the chairman now owns 28 shares in the company, valued at $15,443.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory K. Peters sold 1,278 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $566.35, for a total transaction of $723,795.30. Following the sale, the chief executive officer now owns 13,090 shares in the company, valued at $7,413,521.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 152,833 shares of company stock worth $88,270,051. Insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

A number of institutional investors and hedge funds have recently made changes to their positions in NFLX. Authentikos Wealth Advisory LLC purchased a new stake in shares of Netflix during the 3rd quarter worth approximately $25,000. Spartan Planning & Wealth Management acquired a new stake in Netflix during the 3rd quarter worth $26,000. Valued Wealth Advisors LLC lifted its position in Netflix by 80.0% in the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 20 shares during the last quarter. Carmel Capital Partners LLC boosted its stake in Netflix by 290.0% in the third quarter. Carmel Capital Partners LLC now owns 78 shares of the Internet television network’s stock valued at $30,000 after acquiring an additional 58 shares in the last quarter. Finally, VitalStone Financial LLC boosted its stake in Netflix by 933.3% in the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after acquiring an additional 56 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

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.