Netflix (NASDAQ:NFLX) Given Hold Rating at 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, MarketBeat.com reports. The firm currently has a $585.00 target price on the Internet television network’s stock, down from their previous target price of $720.00.

Other analysts have also issued reports about the stock. Macquarie upped their price target on shares of Netflix from $595.00 to $685.00 and gave the stock an outperform rating in a research note on Tuesday. UBS Group upped their price target on shares of Netflix from $570.00 to $685.00 and gave the stock a buy rating in a research note on Tuesday, February 27th. Benchmark reaffirmed a sell rating and issued a $440.00 price target on shares of Netflix in a research note on Thursday. Piper Sandler upped their price target on shares of Netflix from $550.00 to $600.00 and gave the stock a neutral rating in a research note on Friday, April 12th. Finally, Evercore ISI upped their price target on shares of Netflix from $600.00 to $640.00 and gave the stock an outperform rating in a research note on Thursday, March 14th. 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 stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $630.58.

Netflix Price Performance

NASDAQ NFLX opened at $555.04 on Friday. Netflix has a 52 week low of $315.62 and a 52 week high of $639.00. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.69. The stock has a market cap of $240.20 billion, a price-to-earnings ratio of 38.52, a price-to-earnings-growth ratio of 1.64 and a beta of 1.22. The company has a 50-day moving average price of $605.65 and a two-hundred day moving average price of $513.07.

Netflix (NASDAQ:NFLX) last posted its 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. Netflix had a net margin of 18.42% and a return on equity of 29.46%. The firm had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. During the same quarter in the prior year, the firm earned $2.88 EPS. Netflix’s quarterly revenue was up 14.8% on a year-over-year basis. Analysts forecast that Netflix will post 17.08 EPS for the current year.

Insider Buying and Selling at Netflix

In other Netflix news, insider David A. Hyman sold 47,574 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total value of $25,591,006.08. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $17,003,651.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Gregory K. Peters sold 13,655 shares of the stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $543.80, for a total transaction of $7,425,589.00. Following the transaction, the chief executive officer now owns 13,090 shares in the company, valued at approximately $7,118,342. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David A. Hyman sold 47,574 shares of the stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $17,003,651.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 268,335 shares of company stock worth $151,619,811. 2.45% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Fairfield Bush & CO. grew its stake in Netflix by 26.5% in the 1st quarter. Fairfield Bush & CO. now owns 2,446 shares of the Internet television network’s stock valued at $916,000 after buying an additional 512 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Netflix by 21.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 480,044 shares of the Internet television network’s stock valued at $179,820,000 after buying an additional 84,179 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in Netflix by 14.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 2,922 shares of the Internet television network’s stock valued at $1,094,000 after buying an additional 363 shares during the last quarter. Candriam Luxembourg S.C.A. grew its stake in Netflix by 6.9% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 36,336 shares of the Internet television network’s stock valued at $13,610,000 after buying an additional 2,358 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in Netflix by 13.1% in the 1st quarter. Brown Brothers Harriman & Co. now owns 3,808 shares of the Internet television network’s stock valued at $1,426,000 after buying an additional 441 shares during the last quarter. Institutional investors and hedge funds 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.