Netflix (NASDAQ:NFLX) Upgraded to Hold at Benchmark

Netflix (NASDAQ:NFLX) was upgraded by equities research analysts at Benchmark from a “sell” rating to a “hold” rating in a report released on Wednesday,Briefing.com Automated Import reports.

A number of other equities analysts have also weighed in on NFLX. Piper Sandler boosted their target price on Netflix from $840.00 to $950.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 14th. KeyCorp boosted their price objective on shares of Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a report on Wednesday. The Goldman Sachs Group raised their target price on shares of Netflix from $750.00 to $850.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Macquarie boosted their target price on shares of Netflix from $965.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Jefferies Financial Group lifted their price objective on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $972.00.

Netflix Trading Up 13.0 %

Shares of NASDAQ NFLX opened at $982.99 on Wednesday. The firm’s 50 day moving average price is $886.64 and its 200-day moving average price is $762.07. Netflix has a 52-week low of $481.40 and a 52-week high of $999.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market cap of $420.19 billion, a PE ratio of 55.87, a P/E/G ratio of 1.40 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10,141,900 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.11 EPS. On average, equities research analysts expect that Netflix will post 19.76 EPS for the current fiscal year.

Insider Activity

In related news, CEO Theodore A. Sarandos sold 1,278 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $767.05, for a total value of $980,289.90. Following the completion of the transaction, the chief executive officer now directly owns 2,556 shares of the company’s stock, valued at approximately $1,960,579.80. This trade represents a 33.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the sale, the chairman now directly owns 114 shares in the company, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 152,198 shares of company stock worth $127,616,898 over the last 90 days. Corporate insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. RPg Family Wealth Advisory LLC purchased a new stake in Netflix during the third quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. increased its position in shares of Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after purchasing an additional 42 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in Netflix during the 3rd quarter valued at $37,000. FSA Wealth Management LLC purchased a new position in Netflix during the third quarter worth $38,000. Finally, First Personal Financial Services bought a new position in Netflix during the third quarter valued at $40,000. Institutional investors own 80.93% of the company’s stock.

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.