Jefferies Group reiterated their underperform rating on shares of Netflix Inc. (NASDAQ:NFLX) in a research note released on Wednesday morning. The brokerage currently has a $76.00 price objective on the Internet television network’s stock.
Other equities analysts have also issued research reports about the stock. Cantor Fitzgerald reaffirmed a buy rating on shares of Netflix in a research report on Sunday, August 14th. FBR & Co reaffirmed a market perform rating and set a $90.00 price objective (down previously from $104.00) on shares of Netflix in a research report on Sunday, July 17th. Piper Jaffray Cos. reaffirmed an overweight rating and set a $122.00 price objective on shares of Netflix in a research report on Tuesday, July 12th. Vetr lowered shares of Netflix from a strong-buy rating to a buy rating and set a $102.41 price objective on the stock. in a research report on Wednesday, July 27th. Finally, MKM Partners cut their price objective on shares of Netflix from $145.00 to $130.00 and set a buy rating on the stock in a research report on Wednesday, July 20th. Eight research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $110.29.
Shares of Netflix (NASDAQ:NFLX) opened at 101.47 on Wednesday. The stock has a 50 day moving average of $98.93 and a 200 day moving average of $96.40. Netflix has a 1-year low of $79.95 and a 1-year high of $133.27. The stock has a market cap of $43.50 billion, a PE ratio of 317.09 and a beta of 1.14.
In other news, Director Jay C. Hoag purchased 600,000 shares of Netflix stock in a transaction on Monday, July 25th. The stock was purchased at an average price of $86.43 per share, with a total value of $51,858,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard N. Barton sold 2,800 shares of the company’s stock in a transaction that occurred on Thursday, October 6th. The stock was sold at an average price of $104.27, for a total value of $291,956.00. Following the transaction, the director now directly owns 15,254 shares of the company’s stock, valued at approximately $1,590,534.58. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in NFLX. National Pension Service increased its position in Netflix by 8.7% in the third quarter. National Pension Service now owns 272,049 shares of the Internet television network’s stock worth $26,810,000 after buying an additional 21,790 shares during the period. Highland Capital Management LLC increased its position in Netflix by 218.5% in the third quarter. Highland Capital Management LLC now owns 10,350 shares of the Internet television network’s stock worth $1,020,000 after buying an additional 7,100 shares during the period. Hollencrest Securities LLC purchased a new position in Netflix during the third quarter worth $618,000. Capstone Asset Management Co. increased its position in Netflix by 3.3% in the third quarter. Capstone Asset Management Co. now owns 29,406 shares of the Internet television network’s stock worth $2,898,000 after buying an additional 938 shares during the period. Finally, Grassi Investment Management purchased a new position in Netflix during the third quarter worth $207,000. 78.41% of the stock is owned by hedge funds and other institutional investors.
Netflix Company Profile
Netflix, Inc (Netflix) is a provider of Internet television network. The Company’s members can watch original series, documentaries and feature films in Internet-connected screen. The Company has three operating segments: Domestic streaming, International streaming and Domestic DVD. The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content.
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