Netflix (NFLX) Given Buy Rating at Morgan Stanley
Netflix (NASDAQ:NFLX)‘s stock had its “buy” rating reissued by equities researchers at Morgan Stanley in a research note issued to investors on Tuesday. They presently have a $450.00 target price on the Internet television network’s stock. Morgan Stanley’s price objective would suggest a potential upside of 23.75% from the stock’s previous close.
A number of other research firms also recently weighed in on NFLX. UBS Group downgraded Netflix from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $425.00 to $237.00 in a research note on Wednesday, July 11th. Credit Suisse Group reaffirmed a “neutral” rating and set a $330.00 price target on shares of Netflix in a research note on Thursday, June 21st. JPMorgan Chase & Co. reissued a “buy” rating and set a $385.00 price objective on shares of Netflix in a report on Wednesday, July 11th. Pivotal Research boosted their price objective on Netflix from $420.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, June 21st. Finally, Nomura initiated coverage on Netflix in a report on Tuesday, July 10th. They set a “neutral” rating and a $370.00 price objective for the company. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirty-two have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $365.68.
NFLX stock traded up $17.24 during trading on Tuesday, reaching $363.64. 654,492 shares of the stock were exchanged, compared to its average volume of 10,850,155. Netflix has a twelve month low of $178.38 and a twelve month high of $423.21. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.54 and a current ratio of 1.54. The company has a market cap of $162.92 billion, a P/E ratio of 293.18, a price-to-earnings-growth ratio of 4.67 and a beta of 0.89.
In other Netflix news, CFO David B. Wells sold 1,000 shares of the stock in a transaction on Monday, October 1st. The stock was sold at an average price of $376.61, for a total transaction of $376,610.00. Following the completion of the transaction, the chief financial officer now directly owns 1,000 shares of the company’s stock, valued at $376,610. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel David A. Hyman sold 38,976 shares of the stock in a transaction on Thursday, July 19th. The shares were sold at an average price of $371.20, for a total value of $14,467,891.20. Following the transaction, the general counsel now directly owns 43,895 shares of the company’s stock, valued at $16,293,824. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 420,428 shares of company stock valued at $149,570,353. 4.29% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC grew its holdings in Netflix by 11.8% during the third quarter. Nisa Investment Advisors LLC now owns 164,519 shares of the Internet television network’s stock valued at $61,551,000 after purchasing an additional 17,334 shares during the period. First Hawaiian Bank bought a new position in Netflix during the third quarter valued at $1,449,000. Nikko Asset Management Americas Inc. grew its holdings in Netflix by 84.2% during the third quarter. Nikko Asset Management Americas Inc. now owns 25,886 shares of the Internet television network’s stock valued at $9,930,000 after purchasing an additional 11,834 shares during the period. State of New Jersey Common Pension Fund D grew its holdings in Netflix by 36.4% during the third quarter. State of New Jersey Common Pension Fund D now owns 150,000 shares of the Internet television network’s stock valued at $56,120,000 after purchasing an additional 40,000 shares during the period. Finally, Equitec Proprietary Markets LLC bought a new position in Netflix during the third quarter valued at $299,000. 73.76% of the stock is owned by institutional investors and hedge funds.
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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