Netflix (NASDAQ:NFLX) Given New $540.00 Price Target at Rosenblatt Securities

Netflix (NASDAQ:NFLX) had its target price lowered by equities researchers at Rosenblatt Securities from $554.00 to $540.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the Internet television network’s stock. Rosenblatt Securities’ price objective would indicate a potential downside of 11.56% from the company’s previous close.

A number of other equities analysts also recently commented on the company. Citigroup boosted their price objective on Netflix from $555.00 to $660.00 and gave the stock a “neutral” rating in a research report on Monday, March 25th. Evercore ISI boosted their price objective on Netflix from $600.00 to $640.00 and gave the stock an “outperform” rating in a research report on Thursday, March 14th. Redburn Atlantic boosted their price objective on Netflix from $550.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Pivotal Research upped their price target on Netflix from $700.00 to $765.00 and gave the company a “buy” rating in a report on Friday, April 5th. Finally, JPMorgan Chase & Co. upped their price target on Netflix from $610.00 to $650.00 and gave the company an “overweight” rating in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat, Netflix has a consensus rating of “Moderate Buy” and a consensus price target of $628.76.

Netflix Stock Down 0.5 %

Shares of NASDAQ:NFLX opened at $610.56 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $264.23 billion, a PE ratio of 50.84, a price-to-earnings-growth ratio of 1.65 and a beta of 1.22. The firm’s 50-day moving average is $605.77 and its two-hundred day moving average is $511.86. Netflix has a 1 year low of $315.62 and a 1 year high of $639.00.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 16.04% and a return on equity of 24.76%. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. During the same period in the prior year, the firm earned $2.88 earnings per share. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. Analysts predict that Netflix will post 17.05 EPS for the current year.

Insiders Place Their Bets

In other Netflix news, insider David A. Hyman sold 47,574 shares of the stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total value of $25,591,006.08. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at $17,003,651.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider David A. Hyman sold 47,574 shares of the firm’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total value of $25,591,006.08. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at $17,003,651.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Gregory K. Peters sold 13,655 shares of the firm’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $543.80, for a total value of $7,425,589.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $7,118,342. The disclosure for this sale can be found here. Over the last quarter, insiders sold 268,335 shares of company stock worth $151,619,811. 2.45% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Netflix by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 36,438,570 shares of the Internet television network’s stock valued at $17,741,211,000 after acquiring an additional 178,286 shares during the last quarter. State Street Corp boosted its stake in shares of Netflix by 0.4% during the first quarter. State Street Corp now owns 16,195,490 shares of the Internet television network’s stock valued at $5,595,196,000 after acquiring an additional 62,507 shares during the last quarter. Capital World Investors boosted its stake in shares of Netflix by 0.7% during the fourth quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock valued at $5,718,265,000 after acquiring an additional 78,320 shares during the last quarter. Morgan Stanley boosted its stake in shares of Netflix by 11.1% during the fourth quarter. Morgan Stanley now owns 6,463,661 shares of the Internet television network’s stock valued at $1,906,005,000 after acquiring an additional 644,162 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Netflix by 40.6% during the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after acquiring an additional 1,573,978 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Company Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.