Trade Report: Today, Netflix Inc. (NFLX) Given “Neutral” Rating at SunTrust Banks Inc.

Today, Netflix Inc. (NFLX) Given “Neutral” Rating at SunTrust Banks Inc.

SunTrust Banks Inc. reissued their neutral rating on shares of Netflix Inc. (NASDAQ:NFLX) in a report issued on Wednesday. They currently have a $100.00 price objective on the Internet television network’s stock.

Several other equities analysts have also issued reports on the company. Jefferies Group reaffirmed a hold rating and set a $120.00 price target on shares of Netflix in a research note on Monday, July 11th. Cantor Fitzgerald reissued a buy rating on shares of Netflix in a research note on Sunday, August 14th. FBR & Co reissued a market perform rating and issued a $90.00 target price (down previously from $104.00) on shares of Netflix in a research note on Sunday, July 17th. Piper Jaffray Cos. reissued an overweight rating and issued a $122.00 target price on shares of Netflix in a research note on Tuesday, July 12th. Finally, Vetr lowered Netflix from a strong-buy rating to a buy rating and set a $102.41 target price on the stock. in a research note on Wednesday, July 27th. Seven analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have issued a buy rating to the company’s stock. Netflix presently has a consensus rating of Hold and a consensus price target of $110.97.

Shares of Netflix (NASDAQ:NFLX) traded down 1.28% during midday trading on Wednesday, hitting $104.92. The company had a trading volume of 4,231,901 shares. Netflix has a 12-month low of $79.95 and a 12-month high of $133.27. The firm’s 50-day moving average is $97.70 and its 200-day moving average is $96.24. The firm has a market capitalization of $44.98 billion, a P/E ratio of 327.88 and a beta of 1.14.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, July 18th. The Internet television network reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.07. Netflix had a return on equity of 5.59% and a net margin of 1.85%. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the prior year, the firm posted $0.06 earnings per share. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. On average, analysts predict that Netflix will post $0.29 earnings per share for the current fiscal year.

In other Netflix news, Director Richard N. Barton sold 700 shares of the firm’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $96.19, for a total transaction of $67,333.00. Following the sale, the director now owns 15,562 shares in the company, valued at $1,496,908.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard N. Barton sold 1,400 shares of the firm’s stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $95.63, for a total value of $133,882.00. Following the sale, the director now owns 15,562 shares in the company, valued at approximately $1,488,194.06. The disclosure for this sale can be found here. 4.90% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. increased its stake in Netflix by 69.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 645,960 shares of the Internet television network’s stock worth $66,036,000 after buying an additional 265,678 shares during the last quarter. Scopia Capital Management LP increased its stake in Netflix by 55.2% in the first quarter. Scopia Capital Management LP now owns 1,846,398 shares of the Internet television network’s stock worth $188,757,000 after buying an additional 656,585 shares during the last quarter. Natixis purchased a new stake in Netflix during the first quarter worth $47,023,000. Private Capital Management Inc. purchased a new stake in Netflix during the second quarter worth $631,000. Finally, Allen Investment Management LLC increased its stake in Netflix by 2.6% in the first quarter. Allen Investment Management LLC now owns 30,941 shares of the Internet television network’s stock worth $3,163,000 after buying an additional 778 shares during the last quarter. Institutional investors and hedge funds own 78.43% of the company’s stock.

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