Netflix (NASDAQ:NFLX) Cut to "Strong Sell" at Phillip Securities

Phillip Securities cut shares of Netflix (NASDAQ:NFLX - Free Report) from a hold rating to a strong sell rating in a research note released on Monday morning,Zacks.com reports.

A number of other equities research analysts have also weighed in on the stock. Wedbush reissued an "outperform" rating and set a $1,500.00 price objective (up from $1,400.00) on shares of Netflix in a report on Monday, July 14th. Bank of America boosted their price objective on shares of Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a report on Friday, May 30th. Wolfe Research set a $1,340.00 price objective on shares of Netflix and gave the company an "outperform" rating in a report on Friday, May 16th. Wells Fargo & Company boosted their price objective on shares of Netflix from $1,500.00 to $1,560.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Finally, UBS Group reissued a "market underperform" rating on shares of Netflix in a report on Saturday, July 19th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $1,297.66.

Netflix Stock Down 0.0%

Shares of NFLX stock traded down $0.27 during trading hours on Monday, reaching $1,180.49. 2,624,404 shares of the company's stock were exchanged, compared to its average volume of 3,928,007. The stock's 50 day moving average is $1,236.66 and its 200-day moving average is $1,069.32. The company has a market cap of $501.63 billion, a price-to-earnings ratio of 50.30, a P/E/G ratio of 1.99 and a beta of 1.59. The company has a current ratio of 1.34, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. Netflix has a fifty-two week low of $587.04 and a fifty-two week high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.07 by $0.12. The business had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The business's quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm posted $4.88 earnings per share. Analysts predict that Netflix will post 24.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Netflix news, Director Ann Mather sold 1,090 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,250.00, for a total value of $1,362,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jeffrey William Karbowski sold 620 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $1,286.84, for a total transaction of $797,840.80. The disclosure for this sale can be found here. Insiders have sold 185,923 shares of company stock worth $222,445,095 in the last 90 days. Corporate insiders own 1.37% of the company's stock.

Institutional Trading of Netflix

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Netflix by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network's stock worth $35,433,585,000 after buying an additional 509,255 shares during the last quarter. FMR LLC increased its holdings in Netflix by 1.8% in the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock valued at $18,617,081,000 after purchasing an additional 375,234 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Netflix by 2.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,732,066 shares of the Internet television network's stock valued at $10,940,505,000 after purchasing an additional 304,399 shares during the last quarter. Geode Capital Management LLC increased its holdings in Netflix by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network's stock valued at $8,287,823,000 after purchasing an additional 175,596 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Netflix by 109,524.3% in the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock valued at $8,239,576,000 after purchasing an additional 8,827,662 shares during the last quarter. Institutional investors and hedge funds 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.