Netflix (NFLX) Receives Buy Rating from Buckingham Research

Buckingham Research restated their buy rating on shares of Netflix (NASDAQ:NFLX) in a report released on Thursday morning. Buckingham Research currently has a $251.00 target price on the Internet television network’s stock, up from their prior target price of $235.00.

NFLX has been the subject of a number of other reports. Stifel Nicolaus raised their price target on Netflix from $200.00 to $230.00 and gave the stock a buy rating in a research note on Thursday, October 12th. JPMorgan Chase & Co. reaffirmed an overweight rating and set a $225.00 price target (up from $210.00) on shares of Netflix in a research note on Friday, October 13th. Vetr raised Netflix from a hold rating to a buy rating and set a $210.19 price target for the company in a research note on Thursday, October 19th. BidaskClub downgraded Netflix from a buy rating to a hold rating in a research note on Saturday, December 2nd. Finally, Loop Capital raised their price target on Netflix from $237.00 to $241.00 and gave the stock a buy rating in a research note on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and thirty-five have assigned a buy rating to the stock. Netflix has a consensus rating of Buy and an average target price of $213.56.

Netflix (NFLX) traded up $0.13 on Thursday, hitting $220.46. The stock had a trading volume of 10,257,129 shares, compared to its average volume of 6,560,000. Netflix has a 52 week low of $137.03 and a 52 week high of $226.07. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a market cap of $95,460.00, a P/E ratio of 222.69, a PEG ratio of 3.59 and a beta of 1.34.

In other Netflix news, CEO Reed Hastings sold 83,335 shares of Netflix stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $192.79, for a total value of $16,066,154.65. Following the transaction, the chief executive officer now directly owns 83,335 shares of the company’s stock, valued at approximately $16,066,154.65. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard N. Barton sold 350 shares of Netflix stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $185.71, for a total value of $64,998.50. Following the completion of the transaction, the director now directly owns 7,171 shares in the company, valued at $1,331,726.41. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 341,551 shares of company stock worth $66,457,350. Company insiders own 4.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Balentine LLC grew its holdings in shares of Netflix by 1,020.4% during the 3rd quarter. Balentine LLC now owns 549 shares of the Internet television network’s stock worth $100,000 after purchasing an additional 500 shares in the last quarter. Aviance Capital Management LLC acquired a new stake in shares of Netflix during the 2nd quarter worth approximately $137,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Netflix during the 3rd quarter worth approximately $171,000. Grove Bank & Trust grew its holdings in shares of Netflix by 249.6% during the 3rd quarter. Grove Bank & Trust now owns 958 shares of the Internet television network’s stock worth $174,000 after purchasing an additional 684 shares in the last quarter. Finally, Harfst & Associates Inc. grew its holdings in shares of Netflix by 36.8% during the 2nd quarter. Harfst & Associates Inc. now owns 1,015 shares of the Internet television network’s stock worth $151,000 after purchasing an additional 273 shares in the last quarter. 83.27% of the stock is currently owned by institutional investors.

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About Netflix

Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.

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