Argus Reaffirms Hold Rating for Netflix, Inc. (NFLX)

Argus reiterated their hold rating on shares of Netflix, Inc. (NASDAQ:NFLX) in a report released on Tuesday.

Several other equities research analysts also recently commented on NFLX. FBR & Co reissued a hold rating on shares of Netflix in a research report on Thursday, October 5th. Wells Fargo & Company reissued an outperform rating on shares of Netflix in a research report on Friday, October 6th. Jefferies Group LLC reissued a hold rating and set a $165.00 target price (down from $171.80) on shares of Netflix in a research report on Wednesday, August 9th. Robert W. Baird reissued a hold rating and set a $175.00 target price on shares of Netflix in a research report on Wednesday, October 4th. Finally, Wedbush reissued a sell rating on shares of Netflix in a research report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and thirty-one have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $191.24.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.01). Netflix had a net margin of 3.55% and a return on equity of 12.82%. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same period last year, the firm posted $0.09 earnings per share. The company’s revenue for the quarter was up 32.3% on a year-over-year basis.

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In other news, Director Richard N. Barton sold 1,000 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $187.79, for a total transaction of $187,790.00. Following the completion of the sale, the director now directly owns 7,198 shares of the company’s stock, valued at $1,351,712.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard N. Barton sold 2,000 shares of the business’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $169.18, for a total transaction of $338,360.00. Following the sale, the director now directly owns 8,012 shares of the company’s stock, valued at $1,355,470.16. The disclosure for this sale can be found here. Insiders have sold 318,067 shares of company stock valued at $57,315,706 over the last three months. Insiders own 4.90% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Netflix by 2.9% during the second quarter. Vanguard Group Inc. now owns 27,950,272 shares of the Internet television network’s stock valued at $4,176,049,000 after purchasing an additional 789,190 shares during the period. BlackRock Inc. boosted its stake in shares of Netflix by 1.7% during the second quarter. BlackRock Inc. now owns 25,663,728 shares of the Internet television network’s stock valued at $3,834,416,000 after purchasing an additional 423,968 shares during the period. FMR LLC boosted its stake in shares of Netflix by 12.4% during the second quarter. FMR LLC now owns 23,633,237 shares of the Internet television network’s stock valued at $3,531,042,000 after purchasing an additional 2,605,731 shares during the period. State Street Corp boosted its stake in shares of Netflix by 2.7% during the first quarter. State Street Corp now owns 17,535,737 shares of the Internet television network’s stock valued at $2,591,946,000 after purchasing an additional 463,143 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of Netflix by 14.0% during the second quarter. Jennison Associates LLC now owns 14,784,089 shares of the Internet television network’s stock valued at $2,208,891,000 after purchasing an additional 1,814,056 shares during the period. 81.02% of the stock is owned by hedge funds and other institutional investors.

Netflix Company Profile

Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.

Analyst Recommendations for Netflix (NASDAQ:NFLX)

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