FBN Securities Initiates Coverage on Netflix (NASDAQ:NFLX)

Research analysts at FBN Securities started coverage on shares of Netflix (NASDAQ:NFLX) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $1,165.00 price target on the Internet television network’s stock. FBN Securities’ price target would indicate a potential upside of 24.75% from the company’s previous close.

A number of other research analysts have also recently issued reports on the stock. Wedbush reiterated an “outperform” rating and issued a $1,150.00 target price (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Piper Sandler reissued an “overweight” rating and issued a $1,100.00 price objective (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Sanford C. Bernstein upgraded Netflix from a “market perform” rating to an “outperform” rating and raised their target price for the company from $975.00 to $1,200.00 in a research note on Friday, January 24th. Bank of America upped their price target on shares of Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and boosted their target price for the stock from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and a consensus price target of $1,021.02.

Netflix Trading Down 4.4 %

Shares of Netflix stock opened at $933.85 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The company’s fifty day moving average price is $971.74 and its two-hundred day moving average price is $866.75. Netflix has a 52-week low of $542.01 and a 52-week high of $1,064.50. The firm has a market capitalization of $399.46 billion, a PE ratio of 47.09, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last issued its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same period in the prior year, the firm posted $2.11 EPS. Netflix’s quarterly revenue was up 16.0% compared to the same quarter last year. On average, analysts expect that Netflix will post 24.58 EPS for the current year.

Insiders Place Their Bets

In other news, insider David A. Hyman sold 41,121 shares of Netflix stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $30,946,506.10. This trade represents a 56.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gregory K. Peters sold 4,939 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total transaction of $5,087,170.00. Following the completion of the transaction, the chief executive officer now owns 12,950 shares in the company, valued at $13,338,500. This trade represents a 27.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 288,583 shares of company stock valued at $279,611,567 over the last ninety days. 1.76% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Netflix

A number of hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Netflix in the 4th quarter valued at approximately $5,019,087,000. Proficio Capital Partners LLC grew its stake in shares of Netflix by 123,836.7% during the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock worth $1,716,662,000 after buying an additional 1,924,423 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Netflix by 59.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock valued at $2,051,016,000 after acquiring an additional 856,307 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Netflix by 318.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock valued at $870,752,000 after acquiring an additional 743,724 shares in the last quarter. Finally, Northern Trust Corp grew its position in Netflix by 14.3% during the 4th quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network’s stock worth $4,076,903,000 after acquiring an additional 570,674 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

About Netflix

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.