Netflix (NFLX) Receives Buy Rating from Stifel Nicolaus
Stifel Nicolaus reissued their buy rating on shares of Netflix (NASDAQ:NFLX) in a research note issued to investors on Friday. Stifel Nicolaus currently has a $395.00 target price on the Internet television network’s stock, down from their previous target price of $406.00.
Several other equities analysts have also recently issued reports on the stock. Goldman Sachs Group reaffirmed a $375.13 rating and issued a $470.00 price objective on shares of Netflix in a research note on Wednesday, July 18th. Monness Crespi & Hardt lifted their price objective on shares of Netflix from $375.00 to $460.00 and gave the stock a buy rating in a research note on Tuesday, June 19th. Oppenheimer reaffirmed a buy rating and issued a $370.00 price objective on shares of Netflix in a research note on Thursday, June 14th. Macquarie set a $430.00 price objective on shares of Netflix and gave the stock a buy rating in a research note on Thursday, June 28th. Finally, Bank of America lifted their price objective on shares of Netflix from $352.00 to $460.00 and gave the stock a buy rating in a research note on Wednesday, June 27th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirty-two have issued a buy rating to the stock. Netflix currently has a consensus rating of Buy and a consensus price target of $355.45.
Netflix stock traded up $18.46 during trading hours on Friday, hitting $339.56. 14,804,801 shares of the company traded hands, compared to its average volume of 10,801,604. The stock has a market cap of $162.92 billion, a price-to-earnings ratio of 271.65, a PEG ratio of 4.67 and a beta of 0.89. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.86. Netflix has a 1-year low of $178.38 and a 1-year high of $423.21.
In related news, CFO David B. Wells sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $399.01, for a total transaction of $399,010.00. Following the completion of the sale, the chief financial officer now directly owns 1,000 shares in the company, valued at $399,010. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Theodore A. Sarandos sold 111,391 shares of the firm’s stock in a transaction that occurred on Monday, July 23rd. The stock was sold at an average price of $360.00, for a total transaction of $40,100,760.00. Following the sale, the insider now owns 16,065 shares of the company’s stock, valued at $5,783,400. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 420,428 shares of company stock valued at $149,631,503. 4.29% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. CSat Investment Advisory L.P. bought a new position in Netflix during the second quarter worth $117,000. Guidant Wealth Advisors increased its position in Netflix by 190.5% during the second quarter. Guidant Wealth Advisors now owns 305 shares of the Internet television network’s stock worth $121,000 after acquiring an additional 200 shares during the period. Signature Estate & Investment Advisors LLC bought a new position in Netflix during the second quarter worth $124,000. BerganKDV Wealth Management LLC bought a new position in Netflix during the second quarter worth $137,000. Finally, WealthTrust Fairport LLC increased its position in Netflix by 133.3% during the second quarter. WealthTrust Fairport LLC now owns 350 shares of the Internet television network’s stock worth $137,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 73.76% of the company’s stock.
Netflix Company Profile
Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.
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