Netflix (NASDAQ:NFLX) Earns Hold Rating from Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their hold rating on shares of Netflix (NASDAQ:NFLX) in a research note issued to investors on Friday morning, Marketbeat.com reports. They currently have a $585.00 price target on the Internet television network’s stock, down from their prior price target of $720.00.

NFLX has been the subject of several other research reports. Piper Sandler lifted their price target on Netflix from $550.00 to $600.00 and gave the stock a neutral rating in a research note on Friday, April 12th. Oppenheimer increased their target price on Netflix from $615.00 to $725.00 and gave the company an outperform rating in a report on Monday, March 11th. The Goldman Sachs Group boosted their price target on Netflix from $500.00 to $565.00 and gave the stock a neutral rating in a report on Wednesday, January 24th. Macquarie lifted their price objective on Netflix from $595.00 to $685.00 and gave the stock an outperform rating in a research report on Tuesday, April 16th. Finally, Robert W. Baird upped their target price on shares of Netflix from $500.00 to $600.00 and gave the company an outperform rating in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $630.58.

Netflix Stock Down 0.1 %

NFLX stock opened at $554.60 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.12 and a debt-to-equity ratio of 0.62. The company’s 50-day moving average price is $605.58 and its 200 day moving average price is $516.27. Netflix has a 52 week low of $315.62 and a 52 week high of $639.00. The company has a market cap of $238.98 billion, a P/E ratio of 38.49, a P/E/G ratio of 1.49 and a beta of 1.22.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping the consensus estimate of $4.51 by $0.77. The business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.88 EPS. On average, research analysts expect that Netflix will post 17.13 earnings per share for the current fiscal year.

Insider Activity at Netflix

In other news, CEO Theodore A. Sarandos sold 68,957 shares of Netflix stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $561.33, for a total value of $38,707,632.81. Following the completion of the transaction, the chief executive officer now directly owns 1,278 shares of the company’s stock, valued at approximately $717,379.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Ann Mather sold 3,673 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total transaction of $2,203,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Theodore A. Sarandos sold 68,957 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was 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 of the company’s stock, valued at approximately $717,379.74. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 268,335 shares of company stock valued at $151,619,811. Corporate insiders own 2.45% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. boosted its position in Netflix by 1.5% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 143,394 shares of the Internet television network’s stock worth $87,087,000 after acquiring an additional 2,120 shares during the period. Bristlecone Advisors LLC raised its stake in shares of Netflix by 2.2% during the first quarter. Bristlecone Advisors LLC now owns 7,097 shares of the Internet television network’s stock valued at $4,310,000 after purchasing an additional 155 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in Netflix in the first quarter worth about $221,000. Confluence Wealth Services Inc. grew its position in Netflix by 3.8% in the 1st quarter. Confluence Wealth Services Inc. now owns 2,187 shares of the Internet television network’s stock valued at $1,328,000 after buying an additional 81 shares in the last quarter. Finally, Byrne Asset Management LLC increased its stake in Netflix by 111.4% during the 1st quarter. Byrne Asset Management LLC now owns 241 shares of the Internet television network’s stock valued at $146,000 after buying an additional 127 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

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.