Netflix (NASDAQ:NFLX) Rating Lowered to Sell at BidaskClub

BidaskClub cut shares of Netflix (NASDAQ:NFLX) from a hold rating to a sell rating in a report issued on Thursday morning, BidAskClub reports.

NFLX has been the topic of a number of other reports. Loop Capital raised Netflix from a hold rating to a buy rating and raised their price target for the company from $395.00 to $425.00 in a report on Monday, June 3rd. Rosenblatt Securities restated a neutral rating and issued a $370.00 price target (up from $350.00) on shares of Netflix in a research report on Wednesday, July 10th. UBS Group reaffirmed a buy rating and issued a $420.00 price objective on shares of Netflix in a report on Thursday, April 18th. ValuEngine cut shares of Netflix from a buy rating to a hold rating in a report on Saturday, June 1st. Finally, Barclays reaffirmed a buy rating on shares of Netflix in a report on Thursday, May 16th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Buy and an average target price of $390.47.

NASDAQ:NFLX traded down $6.97 on Thursday, reaching $308.93. 4,934,062 shares of the company’s stock traded hands, compared to its average volume of 10,160,430. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.85 and a current ratio of 0.85. The stock’s 50-day moving average is $348.05. The stock has a market capitalization of $138.31 billion, a price-to-earnings ratio of 115.27, a PEG ratio of 3.21 and a beta of 1.23. Netflix has a 12 month low of $231.23 and a 12 month high of $386.80.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Wednesday, July 17th. The Internet television network reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.04. The business had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $4.93 billion. Netflix had a return on equity of 20.88% and a net margin of 6.53%. The business’s quarterly revenue was up 26.0% on a year-over-year basis. During the same period last year, the firm earned $0.85 earnings per share. As a group, sell-side analysts expect that Netflix will post 3.28 EPS for the current year.

In other news, Director Ann Mather sold 1,208 shares of Netflix stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $375.00, for a total value of $453,000.00. Following the transaction, the director now owns 357 shares of the company’s stock, valued at approximately $133,875. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Reed Hastings sold 51,898 shares of Netflix stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $372.89, for a total transaction of $19,352,245.22. Following the completion of the transaction, the chief executive officer now directly owns 51,898 shares in the company, valued at approximately $19,352,245.22. The disclosure for this sale can be found here. Insiders sold a total of 165,862 shares of company stock worth $56,966,404 in the last ninety days. Corporate insiders own 4.29% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC boosted its stake in Netflix by 2.4% during the first quarter. FMR LLC now owns 26,167,019 shares of the Internet television network’s stock worth $9,330,112,000 after buying an additional 605,419 shares in the last quarter. Baillie Gifford & Co. boosted its position in Netflix by 2.2% in the second quarter. Baillie Gifford & Co. now owns 7,743,499 shares of the Internet television network’s stock worth $2,844,343,000 after purchasing an additional 163,289 shares during the last quarter. Northern Trust Corp boosted its position in Netflix by 1.9% in the first quarter. Northern Trust Corp now owns 4,948,504 shares of the Internet television network’s stock worth $1,764,438,000 after purchasing an additional 90,312 shares during the last quarter. Janus Henderson Group PLC boosted its position in Netflix by 6.6% in the second quarter. Janus Henderson Group PLC now owns 3,471,536 shares of the Internet television network’s stock worth $1,275,354,000 after purchasing an additional 213,987 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Netflix by 3.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,803,697 shares of the Internet television network’s stock worth $662,534,000 after purchasing an additional 55,821 shares during the last quarter. 77.03% of the stock is currently owned by institutional investors.

About Netflix

Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

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Analyst Recommendations for Netflix (NASDAQ:NFLX)

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