Shares of Netflix, Inc. (NASDAQ:NFLX) are down slightly in afternoon trading following the news that internet pirates have breached the company’s encryption software to copy and distribute 4K videos from the internet streaming giants Netflix and Amazon.
According to TorrentFreak.com, pirates were first able to get ahold of a 4K episode of Breaking Bad back in August of this year, but since then there has been no real signs that any other video had been breached. That’s until recently when there seems to have been a flood of pirated 4K video hitting file sharing sites. One such video is that of a new Netflix / Marvel series called ‘Jessica Jones.’
Additionally, pirates have been able to steal and upload 4K videos of ‘The Man in the High Castle,’ ‘Good Girls Revolt,’ ‘Highstone,’ ‘One Mississippi,’ and ‘Patriot’ from Amazon.
The stock is down 1.12% or $1.4 after the negative news, hitting $124.04 per share. About 10.11M shares traded hands. NFLX has declined 77.84% since April 27, 2015 and is downtrending. It has underperformed by 76.95% the S&P500.
Out of 25 analysts covering Netflix (NASDAQ:NFLX), 20 rate it “Buy”, 0 “Sell”, while 5 “Hold”. This means 80% are positive. $175 is the highest target while $72 is the lowest. The $132.72 average target is 7.00% above today’s ($124.04) stock price. Netflix was the topic in 36 analyst reports since August 4, 2015 according to StockzIntelligence Inc. Topeka Capital Markets maintained the stock on November 16 with “Buy” rating. BMO Capital Markets initiated it with “Market Perform” rating and $115 target price in an October 9 report. Oppenheimer maintained the shares of NFLX in a report on October 15 with “Outperform” rating. Vetr upgraded the firm’s rating on September 1. Vetr has “Hold” rating and $122.24 price target. Finally, JP Morgan maintained the stock with “Overweight” rating in an October 15 report.
The institutional sentiment increased to 1.25 in Q2 2015. Its up 0.10, from 1.15 in 2015Q1. The ratio is positive, as 54 funds sold all Netflix, Inc. shares owned while 178 reduced positions. 109 funds bought stakes while 182 increased positions. They now own 54.12 million shares or 35.64% less from 84.09 million shares in 2015Q1.
Technology Crossover Management Vii Ltd. holds 40.06% of its portfolio in Netflix, Inc. for 1.01 million shares. Srs Investment Management Llc owns 1.46 million shares or 28.81% of their US portfolio. Moreover, Barton Investment Management has 27.36% invested in the company for 117,690 shares. The New York-based Teewinot Capital Advisers L.L.C. has invested 21.96% in the stock. Tiger Global Management Llc, a New York-based fund reported 2.57 million shares.
Since February 25, 2015, the stock had 0 insider buys, and 27 selling transactions for $102.38 million net activity. Barton Richard N sold 2,800 shares worth $281,260. Hastings Reed sold 86,037 shares worth $8.68 million. Battle A George sold 49,000 shares worth $5.29M. Cranz Tawni sold 1,512 shares worth $190,179. The insider Peters Gregory K sold 6,545 shares worth $841,491.
Netflix, Inc. is a provider of Internet television network. The company has a market cap of $53.69 billion. The Firm has over 57 million streaming members in over 50 countries. It has 330.75 P/E ratio. The Company’s members can watch more than two billion hours of television shows and movies per month, including original series, documentaries and feature films on Internet-connected screen.