Netflix (NASDAQ:NFLX) Lowered to “Hold” at Canaccord Genuity Group

Canaccord Genuity Group cut shares of Netflix (NASDAQ:NFLX) from a buy rating to a hold rating in a report published on Friday morning, Briefing.com reports. They currently have $585.00 price objective on the Internet television network’s stock, down from their previous price objective of $720.00.

A number of other brokerages also recently commented on NFLX. Needham & Company LLC upgraded Netflix from a hold rating to a buy rating and set a $700.00 target price on the stock in a research note on Friday. Benchmark restated a sell rating and issued a $440.00 target price on shares of Netflix in a research note on Thursday. Morgan Stanley upped their target price on Netflix from $600.00 to $700.00 and gave the stock an overweight rating in a research note on Friday, April 12th. Loop Capital upped their target price on Netflix from $585.00 to $700.00 and gave the stock a buy rating in a research note on Monday, March 18th. Finally, DZ Bank upgraded Netflix from a hold rating to a buy rating and set a $600.00 target price on the stock in a research note on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $630.58.

Netflix Stock Down 9.1 %

Netflix stock opened at $555.04 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.12 and a current ratio of 1.12. The business’s 50-day simple moving average is $605.65 and its two-hundred day simple moving average is $513.07. The company has a market cap of $240.20 billion, a PE ratio of 38.52, a PEG ratio of 1.64 and a beta of 1.22. Netflix has a fifty-two week low of $315.62 and a fifty-two week high of $639.00.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.77. The business had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a return on equity of 29.46% and a net margin of 18.42%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.88 EPS. Equities analysts anticipate that Netflix will post 17.08 EPS for the current year.

Insider Buying and Selling

In related news, CEO Gregory K. Peters sold 13,655 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $543.80, for a total value of $7,425,589.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $7,118,342. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Gregory K. Peters sold 5,533 shares of the stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $575.00, for a total value of $3,181,475.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $7,526,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gregory K. Peters sold 13,655 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $543.80, for a total value of $7,425,589.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $7,118,342. The disclosure for this sale can be found here. Over the last three months, insiders sold 268,335 shares of company stock worth $151,619,811. Company insiders own 2.45% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Mezzasalma Advisors LLC boosted its position in shares of Netflix by 1.3% during the first quarter. Mezzasalma Advisors LLC now owns 6,861 shares of the Internet television network’s stock worth $4,167,000 after buying an additional 90 shares during the period. FORVIS Wealth Advisors LLC boosted its position in shares of Netflix by 119.4% during the first quarter. FORVIS Wealth Advisors LLC now owns 974 shares of the Internet television network’s stock worth $592,000 after buying an additional 530 shares during the period. Teamwork Financial Advisors LLC boosted its position in shares of Netflix by 3,476.5% during the first quarter. Teamwork Financial Advisors LLC now owns 15,987 shares of the Internet television network’s stock worth $9,709,000 after buying an additional 15,540 shares during the period. Veracity Capital LLC boosted its position in shares of Netflix by 44.8% during the first quarter. Veracity Capital LLC now owns 640 shares of the Internet television network’s stock worth $389,000 after buying an additional 198 shares during the period. Finally, Willis Johnson & Associates Inc. boosted its position in shares of Netflix by 9.0% during the first quarter. Willis Johnson & Associates Inc. now owns 1,030 shares of the Internet television network’s stock worth $626,000 after buying an additional 85 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Company Profile

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.