Netflix, Inc. (NFLX) Given “Neutral” Rating at Hanson
Hanson reissued their neutral rating on shares of Netflix, Inc. (NASDAQ:NFLX) in a report issued on Wednesday morning. Hanson currently has a $140.00 price objective on the Internet television network’s stock.
NFLX has been the topic of a number of other reports. Raymond James Financial, Inc. restated an outperform rating and set a $205.00 target price (up from $165.00) on shares of Netflix in a research note on Tuesday, July 18th. Cantor Fitzgerald upped their target price on shares of Netflix from $165.00 to $190.00 and gave the stock an overweight rating in a research note on Tuesday, June 6th. Vetr upgraded shares of Netflix from a strong sell rating to a sell rating and set a $177.49 target price on the stock in a research note on Tuesday. MKM Partners upped their target price on shares of Netflix from $195.00 to $230.00 and gave the stock a buy rating in a research note on Thursday, July 27th. Finally, Goldman Sachs Group, Inc. (The) restated a buy rating and set a $200.00 target price (up from $175.00) on shares of Netflix in a research note on Tuesday, July 18th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-eight have issued a buy rating to the stock. The company has an average rating of Buy and an average price target of $178.90.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.01). The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.76 billion. Netflix had a return on equity of 12.82% and a net margin of 3.55%. The firm’s revenue for the quarter was up 32.3% on a year-over-year basis. During the same quarter last year, the company earned $0.09 earnings per share.
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In other news, insider Jonathan Friedland sold 2,496 shares of Netflix stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $182.17, for a total value of $454,696.32. Following the transaction, the insider now directly owns 1,232 shares of the company’s stock, valued at approximately $224,433.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard N. Barton sold 1,000 shares of Netflix stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $156.62, for a total value of $156,620.00. Following the completion of the transaction, the director now directly owns 8,012 shares in the company, valued at $1,254,839.44. The disclosure for this sale can be found here. Insiders sold a total of 235,858 shares of company stock worth $41,949,573 over the last ninety days. Corporate insiders own 4.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Intl Fcstone Inc. acquired a new position in shares of Netflix in the 2nd quarter valued at about $278,000. Navellier & Associates Inc acquired a new position in shares of Netflix in the 2nd quarter valued at about $492,000. USA Financial Portformulas Corp acquired a new position in shares of Netflix in the 2nd quarter valued at about $6,229,000. Toronto Dominion Bank lifted its stake in shares of Netflix by 25.7% in the 2nd quarter. Toronto Dominion Bank now owns 146,001 shares of the Internet television network’s stock valued at $21,810,000 after purchasing an additional 29,867 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Netflix in the 2nd quarter valued at about $445,000. 81.03% of the stock is currently owned by institutional investors and hedge funds.
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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