Benchmark Reiterates “Sell” Rating for Netflix (NASDAQ:NFLX)

Netflix (NASDAQ:NFLX)‘s stock had its “sell” rating reiterated by Benchmark in a report released on Tuesday, Benzinga reports. They currently have a $545.00 target price on the Internet television network’s stock. Benchmark’s price target would suggest a potential downside of 22.36% from the company’s current price.

Several other analysts have also issued reports on the company. Redburn Atlantic upped their target price on Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Morgan Stanley upped their target price on Netflix from $780.00 to $820.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Oppenheimer upped their target price on Netflix from $725.00 to $775.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. KeyCorp boosted their price target on Netflix from $735.00 to $760.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Finally, TD Cowen boosted their price target on Netflix from $775.00 to $820.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $704.26.

Netflix Stock Performance

Shares of Netflix stock opened at $702.00 on Tuesday. The firm has a market cap of $302.56 billion, a price-to-earnings ratio of 48.72, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. The stock’s 50-day moving average is $692.63 and its 200-day moving average is $653.38. Netflix has a one year low of $344.73 and a one year high of $736.00. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The company had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the company posted $3.29 earnings per share. Equities analysts predict that Netflix will post 19.08 earnings per share for the current fiscal year.

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 45,290 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the completion of the sale, the chairman now directly owns 85 shares in the company, valued at approximately $60,023.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Chairman Reed Hastings sold 45,290 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total value of $31,981,986.40. Following the completion of the sale, the chairman now directly owns 85 shares in the company, valued at $60,023.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 225,167 shares of company stock worth $150,492,460 over the last three months. Company insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Large investors have recently added to or reduced their stakes in the business. Denver PWM LLC bought a new position in Netflix in the 2nd quarter valued at about $25,000. Valued Wealth Advisors LLC lifted its position in Netflix by 80.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 20 shares in the last quarter. Scarborough Advisors LLC bought a new position in Netflix in the 4th quarter valued at about $32,000. Indiana Trust & Investment Management CO lifted its position in shares of Netflix by 112.0% during the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after buying an additional 28 shares in the last quarter. Finally, Proffitt & Goodson Inc. lifted its position in shares of Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after buying an additional 38 shares in 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.