Rosenblatt Securities Trims Netflix (NASDAQ:NFLX) Target Price to $540.00

Netflix (NASDAQ:NFLX) had its price objective decreased by Rosenblatt Securities from $554.00 to $540.00 in a research report released on Friday, Benzinga reports. Rosenblatt Securities currently has a neutral rating on the Internet television network’s stock.

Other analysts also recently issued research reports about the company. Needham & Company LLC upgraded Netflix from a hold rating to a buy rating and set a $700.00 price objective for the company in a research report on Friday. Pivotal Research increased their price target on shares of Netflix from $700.00 to $765.00 and gave the company a buy rating in a research report on Friday, April 5th. Sanford C. Bernstein boosted their price objective on shares of Netflix from $390.00 to $490.00 and gave the company a market perform rating in a research report on Wednesday, January 24th. Redburn Atlantic upped their price objective on shares of Netflix from $550.00 to $610.00 and gave the company a buy rating in a research note on Wednesday, January 24th. Finally, The Goldman Sachs Group raised their target price on Netflix from $500.00 to $565.00 and gave the stock a neutral rating in a research note on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $630.58.

Netflix Trading Down 0.1 %

Shares of NFLX opened at $554.60 on Friday. Netflix has a fifty-two week low of $315.62 and a fifty-two week high of $639.00. The business has a 50-day moving average of $605.58 and a 200 day moving average of $516.27. The firm has a market cap of $238.98 billion, a P/E ratio of 38.49, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.12 and a current ratio of 1.07.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping 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 business had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. During the same period in the prior year, the company posted $2.88 EPS. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, research analysts forecast that Netflix will post 17.13 EPS for the current year.

Insider Transactions at Netflix

In other Netflix news, Chairman Reed Hastings sold 20,566 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the sale, the chairman now directly owns 28 shares of the company’s stock, valued at $17,091.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Netflix news, CEO Theodore A. Sarandos sold 68,957 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the transaction, the chief executive officer now owns 1,278 shares in the company, valued at $717,379.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Reed Hastings sold 20,566 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the completion of the sale, the chairman now owns 28 shares of the company’s stock, valued at approximately $17,091.76. The disclosure for this sale can be found here. Insiders have sold a total of 268,335 shares of company stock worth $151,619,811 in the last three months. Insiders own 2.45% of the company’s stock.

Institutional Trading of Netflix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Columbia Trust Co 01012016 lifted its stake in shares of Netflix by 15.3% during the 4th quarter. Columbia Trust Co 01012016 now owns 1,566 shares of the Internet television network’s stock worth $762,000 after acquiring an additional 208 shares during the last quarter. Crumly & Associates Inc. increased its stake in Netflix by 4.1% in the fourth quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network’s stock worth $1,025,000 after purchasing an additional 83 shares during the period. Venture Visionary Partners LLC lifted its position in shares of Netflix by 15.4% during the fourth quarter. Venture Visionary Partners LLC now owns 9,849 shares of the Internet television network’s stock worth $4,795,000 after purchasing an additional 1,318 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Netflix by 142.6% during the third quarter. Assenagon Asset Management S.A. now owns 667,597 shares of the Internet television network’s stock worth $252,085,000 after purchasing an additional 392,427 shares during the last quarter. Finally, Sandy Cove Advisors LLC boosted its stake in shares of Netflix by 10.6% during the fourth quarter. Sandy Cove Advisors LLC now owns 1,187 shares of the Internet television network’s stock valued at $578,000 after purchasing an additional 114 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

About Netflix

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.