Netflix (NASDAQ:NFLX) Now Covered by Analysts at CICC Research

CICC Research started coverage on shares of Netflix (NASDAQ:NFLX) in a report released on Thursday, Benzinga reports. The brokerage issued an outperform rating and a $650.00 price target on the Internet television network’s stock.

A number of other analysts have also weighed in on the stock. BMO Capital Markets reaffirmed an outperform rating and set a $713.00 target price (up previously from $638.00) on shares of Netflix in a report on Wednesday, April 17th. Wedbush reiterated an outperform rating and issued a $725.00 price objective on shares of Netflix in a research report on Friday, April 19th. Macquarie lifted their price objective on Netflix from $595.00 to $685.00 and gave the company an outperform rating in a research note on Tuesday, April 16th. Evercore ISI upped their target price on Netflix from $640.00 to $650.00 and gave the stock an outperform rating in a research note on Friday, April 19th. Finally, Robert W. Baird raised their price target on Netflix from $500.00 to $600.00 and gave the company an outperform rating in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $631.15.

Netflix Trading Up 2.5 %

NASDAQ:NFLX opened at $579.34 on Thursday. The company has a market cap of $249.67 billion, a P/E ratio of 40.20, a P/E/G ratio of 1.37 and a beta of 1.23. Netflix has a 1 year low of $317.95 and a 1 year high of $639.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07. The stock’s fifty day moving average price is $602.66 and its two-hundred day moving average price is $524.81.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. The business had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.88 EPS. As a group, analysts expect that Netflix will post 18.3 EPS for the current year.

Insiders Place Their Bets

In related news, Chairman Reed Hastings sold 18,361 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $551.54, for a total transaction of $10,126,825.94. Following the sale, the chairman now directly owns 28 shares of the company’s stock, valued at $15,443.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Chairman Reed Hastings sold 18,361 shares of Netflix stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $551.54, for a total value of $10,126,825.94. Following the completion of the sale, the chairman now directly owns 28 shares in the company, valued at $15,443.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anne M. Sweeney sold 633 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total transaction of $354,480.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 152,833 shares of company stock valued at $88,270,051. Corporate insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Hedge funds have recently modified their holdings of the business. Columbia Trust Co 01012016 increased its position in Netflix by 15.3% in the fourth quarter. Columbia Trust Co 01012016 now owns 1,566 shares of the Internet television network’s stock worth $762,000 after buying an additional 208 shares in the last quarter. Crumly & Associates Inc. boosted its position in shares of Netflix by 4.1% in the fourth quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network’s stock worth $1,025,000 after purchasing an additional 83 shares during the period. Venture Visionary Partners LLC raised its position in shares of Netflix by 15.4% during the 4th quarter. Venture Visionary Partners LLC now owns 9,849 shares of the Internet television network’s stock valued at $4,795,000 after purchasing an additional 1,318 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Netflix by 142.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 667,597 shares of the Internet television network’s stock valued at $252,085,000 after buying an additional 392,427 shares in the last quarter. Finally, Sandy Cove Advisors LLC increased its stake in Netflix by 10.6% in the 4th quarter. Sandy Cove Advisors LLC now owns 1,187 shares of the Internet television network’s stock worth $578,000 after buying an additional 114 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.