Netflix (NASDAQ:NFLX) Cut to “Hold” at Loop Capital

Netflix (NASDAQ:NFLX) was downgraded by Loop Capital from a “buy” rating to a “hold” rating in a note issued to investors on Monday, Marketbeat reports. They presently have a $950.00 price target on the Internet television network’s stock, up from their prior price target of $800.00. Loop Capital’s price objective would indicate a potential upside of 3.39% from the stock’s previous close.

Other analysts have also issued reports about the stock. TD Cowen boosted their target price on shares of Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Evercore ISI boosted their price target on Netflix from $775.00 to $950.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Canaccord Genuity Group lifted their price objective on Netflix from $760.00 to $940.00 and gave the company a “hold” rating in a research report on Monday, December 2nd. Wolfe Research reissued an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Finally, Benchmark reiterated a “sell” rating and issued a $545.00 price target on shares of Netflix in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and a consensus price target of $792.39.

Netflix Trading Down 0.7 %

Shares of NFLX stock opened at $918.87 on Monday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix has a 12-month low of $461.86 and a 12-month high of $941.75. The stock has a market capitalization of $392.78 billion, a P/E ratio of 52.00, a P/E/G ratio of 1.80 and a beta of 1.27. The firm’s 50 day moving average is $814.02 and its 200 day moving average is $720.29.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Research analysts expect that Netflix will post 19.78 earnings per share for the current year.

Insiders Place Their Bets

In other Netflix news, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the completion of the sale, the chairman now directly owns 114 shares in the company, valued at $102,212.40. This trade represents a 99.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David A. Hyman sold 267 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 165,405 shares of company stock worth $129,623,487 over the last 90 days. Company insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Large investors have recently bought and sold shares of the stock. Denver PWM LLC purchased a new position in Netflix in the 2nd quarter worth $25,000. RPg Family Wealth Advisory LLC acquired a new stake in Netflix during the 3rd quarter worth about $25,000. Proffitt & Goodson Inc. grew its holdings in Netflix by 380.0% during the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 38 shares during the period. E Fund Management Hong Kong Co. Ltd. boosted its position in Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new stake in Netflix during the third quarter worth $37,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

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.