CICC Research Begins Coverage on Netflix (NASDAQ:NFLX)

CICC Research initiated coverage on shares of Netflix (NASDAQ:NFLX - Free Report) in a research report report published on Thursday, Benzinga reports. The brokerage issued an outperform rating and a $650.00 price objective on the Internet television network's stock.

Other analysts have also issued research reports about the stock. Seaport Res Ptn lowered shares of Netflix from a buy rating to a neutral rating in a report on Tuesday, January 30th. Loop Capital boosted their price target on shares of Netflix from $585.00 to $700.00 and gave the stock a buy rating in a research note on Monday, March 18th. Morgan Stanley boosted their price target on shares of Netflix from $600.00 to $700.00 and gave the stock an overweight rating in a research note on Friday, April 12th. StockNews.com raised shares of Netflix from a hold rating to a buy rating in a research note on Monday, February 26th. Finally, KeyCorp boosted their price target on shares of Netflix from $580.00 to $705.00 and gave the stock an overweight rating in a research note on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $631.15.

Netflix Price Performance

Netflix stock traded up $13.44 during midday trading on Thursday, reaching $565.15. 3,067,291 shares of the stock were exchanged, compared to its average volume of 4,450,271. The company's fifty day moving average is $602.66 and its 200-day moving average is $524.81. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $243.52 billion, a PE ratio of 39.22, a PEG ratio of 1.35 and a beta of 1.23. Netflix has a 52 week low of $315.85 and a 52 week high of $639.00.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping analysts' consensus estimates of $4.51 by $0.77. The business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. Netflix's revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.88 EPS. On average, sell-side analysts forecast that Netflix will post 18.13 EPS for the current year.

Insider Activity at Netflix

In other news, insider David A. Hyman sold 267 shares of the firm's stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total transaction of $148,454.67. Following the sale, the insider now owns 31,610 shares of the company's stock, valued at approximately $17,575,476.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Netflix news, Chairman Reed Hastings sold 18,361 shares of the firm's stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $551.54, for a total transaction of $10,126,825.94. Following the sale, the chairman now owns 28 shares in the company, valued at approximately $15,443.12. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David A. Hyman sold 267 shares of the firm's stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total transaction of $148,454.67. Following the sale, the insider now owns 31,610 shares in the company, valued at approximately $17,575,476.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 152,833 shares of company stock valued at $88,270,051. 1.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Netflix

Several institutional investors and hedge funds have recently modified their holdings of the stock. Mutual Advisors LLC raised its position in shares of Netflix by 5.7% during the first quarter. Mutual Advisors LLC now owns 14,459 shares of the Internet television network's stock valued at $8,781,000 after buying an additional 774 shares during the last quarter. Salomon & Ludwin LLC boosted its stake in Netflix by 33.8% during the first quarter. Salomon & Ludwin LLC now owns 744 shares of the Internet television network's stock worth $452,000 after buying an additional 188 shares during the period. Financial Counselors Inc. boosted its stake in Netflix by 1.1% during the first quarter. Financial Counselors Inc. now owns 22,870 shares of the Internet television network's stock worth $13,890,000 after buying an additional 256 shares during the period. Jennison Associates LLC boosted its stake in Netflix by 17.0% during the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network's stock worth $3,875,655,000 after buying an additional 929,193 shares during the period. Finally, AAFMAA Wealth Management & Trust LLC purchased a new position in Netflix during the first quarter worth $1,382,000. 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.