Rosenblatt Securities Trims Netflix (NASDAQ:NFLX) Target Price to $540.00

Netflix (NASDAQ:NFLX) had its target price cut by Rosenblatt Securities from $554.00 to $540.00 in a research note released on Friday morning, Benzinga reports. They currently have a neutral rating on the Internet television network’s stock.

NFLX has been the topic of several other reports. Canaccord Genuity Group reiterated a hold rating and issued a $585.00 price objective (down from $720.00) on shares of Netflix in a research note on Friday. Canaccord Genuity Group upped their price objective on Netflix from $575.00 to $625.00 and gave the company a buy rating in a research note on Wednesday, January 24th. Piper Sandler upped their price objective on Netflix from $550.00 to $600.00 and gave the company a neutral rating in a research note on Friday, April 12th. Deutsche Bank Aktiengesellschaft increased their price target on Netflix from $525.00 to $550.00 and gave the stock a hold rating in a research report on Monday, April 15th. Finally, Citigroup increased their price target on Netflix from $555.00 to $660.00 and gave the stock a neutral rating in a research report on Monday, March 25th. One investment 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. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $630.58.

Netflix Trading Down 9.1 %

Shares of NFLX opened at $555.04 on Friday. Netflix has a 12-month low of $315.62 and a 12-month high of $639.00. The firm has a market capitalization of $240.20 billion, a price-to-earnings ratio of 38.52, a P/E/G ratio of 1.64 and a beta of 1.22. The stock’s 50-day moving average price is $605.65 and its 200 day moving average price is $513.07. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.69.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.77. Netflix had a return on equity of 29.46% and a net margin of 18.42%. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. During the same period in the prior year, the company posted $2.88 EPS. The company’s revenue was up 14.8% compared to the same quarter last year. As a group, research analysts predict that Netflix will post 17.08 earnings per share for the current year.

Insider Activity

In other news, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the transaction, the chairman now owns 28 shares of the company’s stock, valued at approximately $17,091.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Theodore A. Sarandos sold 68,957 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now owns 1,278 shares in the company, valued at approximately $717,379.74. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Reed Hastings sold 20,566 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the completion of the sale, the chairman now owns 28 shares of the company’s stock, valued at approximately $17,091.76. The disclosure for this sale can be found here. Insiders have sold a total of 268,335 shares of company stock valued at $151,619,811 in the last 90 days. 2.45% of the stock is owned by company insiders.

Institutional Trading of Netflix

A number of large investors have recently made changes to their positions in NFLX. Fairfield Bush & CO. increased its position in shares of 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Netflix by 21.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 480,044 shares of the Internet television network’s stock worth $179,820,000 after purchasing an additional 84,179 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in Netflix by 14.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,922 shares of the Internet television network’s stock worth $1,094,000 after purchasing an additional 363 shares in the last quarter. Candriam Luxembourg S.C.A. increased its holdings in Netflix by 6.9% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 36,336 shares of the Internet television network’s stock worth $13,610,000 after purchasing an additional 2,358 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its holdings in Netflix by 13.1% during the 1st quarter. Brown Brothers Harriman & Co. now owns 3,808 shares of the Internet television network’s stock worth $1,426,000 after purchasing an additional 441 shares in the last quarter. 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.