Netflix, Inc. (NFLX) Receives “Underperform” Rating from Jefferies Group
Jefferies Group reiterated their underperform rating on shares of Netflix, Inc. (NASDAQ:NFLX) in a report issued on Thursday morning. Jefferies Group currently has a $80.00 target price on the Internet television network’s stock.
NFLX has been the subject of several other research reports. Pivotal Research reiterated a buy rating and issued a $155.00 price objective (up previously from $125.00) on shares of Netflix in a research note on Tuesday, October 18th. Dougherty & Co reiterated a neutral rating on shares of Netflix in a research note on Monday, October 17th. SunTrust Banks, Inc. lifted their price objective on shares of Netflix from $110.00 to $115.00 and gave the company a hold rating in a research note on Tuesday, October 18th. Cantor Fitzgerald reiterated an overweight rating and issued a $135.00 price objective on shares of Netflix in a research note on Friday, December 16th. Finally, Wedbush restated an underperform rating and set a $45.00 price target on shares of Netflix in a research note on Friday, September 30th. Seven investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-eight have assigned a buy rating to the company. Netflix presently has an average rating of Hold and an average target price of $120.41.
Shares of Netflix (NASDAQ:NFLX) traded up 3.50% during mid-day trading on Thursday, reaching $133.70. 10,473,562 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $123.08 and its 200 day moving average price is $106.56. The company has a market cap of $57.38 billion, a PE ratio of 361.35 and a beta of 1.67. Netflix has a 52-week low of $79.95 and a 52-week high of $133.93.
Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Monday, October 17th. The Internet television network reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.06. The company earned $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. Netflix had a net margin of 1.99% and a return on equity of 6.31%. Netflix’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.07 EPS. On average, equities research analysts predict that Netflix will post $0.41 EPS for the current year.
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In other news, insider Theodore A. Sarandos sold 91,966 shares of Netflix stock in a transaction dated Tuesday, October 18th. The stock was sold at an average price of $116.63, for a total transaction of $10,725,994.58. Following the transaction, the insider now directly owns 15,204 shares of the company’s stock, valued at approximately $1,773,242.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard N. Barton sold 2,800 shares of Netflix stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $115.31, for a total value of $322,868.00. Following the transaction, the director now directly owns 8,412 shares in the company, valued at $969,987.72. The disclosure for this sale can be found here. 4.90% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Cornerstone Advisors Inc. boosted its position in Netflix by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,118 shares of the Internet television network’s stock worth $102,000 after buying an additional 228 shares during the last quarter. Quadrant Capital Group LLC boosted its position in Netflix by 15.1% in the second quarter. Quadrant Capital Group LLC now owns 1,475 shares of the Internet television network’s stock worth $126,000 after buying an additional 194 shares during the last quarter. Catalyst Capital Advisors LLC bought a new position in Netflix during the third quarter worth $173,000. Integrated Wealth Management boosted its position in Netflix by 12.4% in the second quarter. Integrated Wealth Management now owns 1,804 shares of the Internet television network’s stock worth $165,000 after buying an additional 199 shares during the last quarter. Finally, Tuttle Tactical Management LLC bought a new position in Netflix during the third quarter worth $194,000. 79.44% of the stock is currently owned by hedge funds and other institutional investors.
Netflix Company Profile
Netflix Inc is an Internet television network with over 86 million members in over 190 countries enjoying more than 125 million hours of television (TV) shows and movies per day, including original series, documentaries and feature films. Members can watch as much as they want, anytime, anywhere, on nearly any Internet-connected screen.
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