Trading Report: The Netflix’s (NFLX) Hold Rating Reaffirmed at Needham & Company LLC

The Netflix’s (NFLX) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Netflix Inc. (NASDAQ:NFLX) in a report issued on Wednesday.

A number of other research firms have also recently weighed in on NFLX. FBR & Co reissued a market perform rating and issued a $90.00 target price on shares of Netflix in a research note on Wednesday, October 5th. Deutsche Bank AG assumed coverage on shares of Netflix in a research note on Monday. They issued a sell rating and a $90.00 target price on the stock. They noted that the move was a valuation call. Raymond James Financial Inc. set a $120.00 price objective on shares of Netflix and gave the stock a buy rating in a research note on Monday. Vetr cut shares of Netflix from a buy rating to a hold rating and set a $105.94 price objective on the stock. in a research note on Monday, October 3rd. Finally, Robert W. Baird reaffirmed a neutral rating and set a $94.00 price objective on shares of Netflix in a research note on Tuesday, October 4th. Eight analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-eight have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $110.32.

Netflix (NASDAQ:NFLX) traded up 0.2554% on Wednesday, reaching $99.7541. 3,550,594 shares of the company’s stock traded hands. Netflix has a 52-week low of $79.95 and a 52-week high of $133.27. The firm has a market capitalization of $42.77 billion, a PE ratio of 311.7316 and a beta of 1.14. The firm’s 50 day moving average price is $98.66 and its 200 day moving average price is $96.37.

Netflix (NASDAQ:NFLX) last posted its earnings results on Monday, July 18th. The Internet television network reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.07. The business had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.06 earnings per share. On average, analysts predict that Netflix will post $0.28 EPS for the current fiscal year.

In other news, Director Richard N. Barton sold 2,800 shares of the company’s stock in a transaction on Thursday, October 6th. The shares were sold at an average price of $104.27, for a total value of $291,956.00. Following the completion of the sale, the director now owns 15,254 shares in the company, valued at approximately $1,590,534.58. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jay C. Hoag bought 600,000 shares of Netflix stock in a transaction dated 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 disclosure for this purchase can be found here. 4.90% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the company. Cornerstone Advisors Inc. raised its stake in Netflix by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,118 shares of the Internet television network’s stock valued at $102,000 after buying an additional 228 shares during the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in Netflix during the second quarter valued at about $124,000. Quadrant Capital Group LLC raised its stake in Netflix by 15.1% in the second quarter. Quadrant Capital Group LLC now owns 1,475 shares of the Internet television network’s stock valued at $126,000 after buying an additional 194 shares during the last quarter. Coconut Grove Bank raised its stake in Netflix by 1.7% in the second quarter. Coconut Grove Bank now owns 1,526 shares of the Internet television network’s stock valued at $140,000 after buying an additional 26 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in Netflix by 15.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,690 shares of the Internet television network’s stock valued at $155,000 after buying an additional 224 shares during the last quarter. Hedge funds and other institutional investors own 78.43% of the company’s stock.

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