Netflix (NASDAQ:NFLX) Cut to Hold at Loop Capital

Netflix (NASDAQ:NFLX) was downgraded by research analysts at Loop Capital from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. They presently have a $950.00 price objective on the Internet television network’s stock, up from their previous price objective of $800.00. Loop Capital’s price target points to a potential upside of 3.39% from the company’s previous close.

A number of other brokerages have also commented on NFLX. Piper Sandler reaffirmed an “overweight” rating and set a $840.00 price objective (up previously from $800.00) on shares of Netflix in a research report on Friday, October 18th. China Renaissance started coverage on Netflix in a research report on Thursday, September 5th. They issued a “hold” rating and a $680.00 price objective for the company. KeyCorp boosted their price objective on Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Morgan Stanley raised their target price on Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $792.39.

Netflix Price Performance

Shares of Netflix stock opened at $918.87 on Monday. Netflix has a 1-year low of $461.86 and a 1-year high of $941.75. The firm has a fifty day simple moving average of $814.02 and a 200-day simple moving average of $720.29. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $392.78 billion, a price-to-earnings ratio of 52.00, a PEG ratio of 1.80 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The company had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. On average, sell-side analysts expect that Netflix will post 19.78 earnings per share for the current year.

Insider Transactions at Netflix

In other news, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total transaction of $518,320.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider David A. Hyman sold 267 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 165,405 shares of company stock valued at $129,623,487 over the last quarter. Corporate insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

A number of large investors have recently bought and sold shares of the company. Denver PWM LLC acquired a new position in Netflix during the second quarter worth $25,000. RPg Family Wealth Advisory LLC acquired a new position in Netflix during the third quarter valued at approximately $25,000. Proffitt & Goodson Inc. increased its position in shares of Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 38 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Netflix by 700.0% in 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 buying an additional 42 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of Netflix in the third quarter valued at $37,000. 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.