Netflix (NASDAQ:NFLX) Upgraded to “Sell” at BidaskClub

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BidaskClub upgraded shares of Netflix (NASDAQ:NFLX) from a strong sell rating to a sell rating in a research note published on Wednesday morning, BidAskClub reports.

Other research analysts also recently issued research reports about the stock. Imperial Capital set a $451.00 price target on shares of Netflix and gave the company a buy rating in a report on Thursday, September 12th. Royal Bank of Canada set a $450.00 price target on shares of Netflix and gave the company a buy rating in a report on Monday, August 26th. JPMorgan Chase & Co. lowered their price target on shares of Netflix from $450.00 to $425.00 and set an overweight rating for the company in a report on Thursday, July 18th. Loop Capital raised shares of Netflix from a hold rating to a buy rating and increased their price target for the company from $395.00 to $425.00 in a report on Monday, June 3rd. Finally, Citigroup lowered their price target on shares of Netflix from $420.00 to $410.00 and set a buy rating for the company in a report on Thursday, July 18th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $390.58.

Shares of Netflix stock opened at $270.75 on Wednesday. The firm has a market cap of $127.66 billion, a price-to-earnings ratio of 114.34, a PEG ratio of 2.99 and a beta of 1.24. The business has a 50-day moving average price of $298.29 and a 200-day moving average price of $343.40. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 2.06. Netflix has a twelve month low of $231.23 and a twelve month high of $386.80.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Wednesday, July 17th. The Internet television network reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.04. Netflix had a return on equity of 20.88% and a net margin of 6.53%. The firm had revenue of $4.92 billion during the quarter, compared to analyst estimates of $4.93 billion. During the same quarter last year, the business posted $0.85 earnings per share. The business’s quarterly revenue was up 26.0% compared to the same quarter last year. On average, equities analysts expect that Netflix will post 3.25 EPS for the current fiscal year.

In other news, Director Ann Mather sold 1,208 shares of Netflix stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $375.00, for a total transaction of $453,000.00. Following the completion of the sale, the director now owns 357 shares of the company’s stock, valued at $133,875. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Reed Hastings sold 51,898 shares of Netflix stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $372.89, for a total transaction of $19,352,245.22. Following the sale, the chief executive officer now directly owns 51,898 shares of the company’s stock, valued at approximately $19,352,245.22. The disclosure for this sale can be found here. In the last three months, insiders sold 160,717 shares of company stock valued at $52,621,735. 4.29% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. River & Mercantile Asset Management LLP bought a new stake in shares of Netflix during the second quarter valued at approximately $7,809,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Netflix by 5.5% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 146,350 shares of the Internet television network’s stock valued at $53,757,000 after acquiring an additional 7,615 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Netflix during the second quarter valued at approximately $1,461,000. EP Wealth Advisors LLC raised its stake in shares of Netflix by 11.7% during the second quarter. EP Wealth Advisors LLC now owns 1,614 shares of the Internet television network’s stock valued at $593,000 after acquiring an additional 169 shares in the last quarter. Finally, Toronto Dominion Bank raised its stake in shares of Netflix by 9.4% during the second quarter. Toronto Dominion Bank now owns 390,722 shares of the Internet television network’s stock valued at $143,489,000 after acquiring an additional 33,702 shares in the last quarter. 78.96% of the stock is owned by hedge funds and other institutional investors.

About Netflix

Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

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