While Netflix, Inc. (NASDAQ:NFLX) seems to offer the most comprehensive television service for the price, that price will soon be rising for all users according to the company. While it’s been close to two years since the company raised their price from $7.99 to $9.99 if a user wishes to have acess to HD content, those grandfathered in at the $7.99 price have been able to view HD content as well. This is all about to end however.
With Netflix, Inc. (NASDAQ:NFLX) continuing to expand their subscriber base, the company will be requiring those grandfathered in to also pay $9.99 per month if they want high definition content. If these users want to remain at the $7.99 price level than they have to stick with standard definition. These changes should go into effect sometime in the next quarter or two, and Netflix, Inc. (NASDAQ:NFLX) seems confident that they will not be losing many subscribers from this move.
The stock is down 0.70% or $0.76 following the news, hitting $107.13 per share. About 43.19 million shares traded hands or 148.65% up from the average. NFLX has risen 15.48% since June 15, 2015 and is uptrending. It has outperformed the S&P500 by 24.34%.
From a total of 27 analysts covering Netflix (NASDAQ:NFLX) stock, 21 rate it a “Buy”, 0 a “Sell”, and 6 a “Hold”. This means that 78% of the ratings are positive. The highest target price is $175 while the lowest target price is $72. The mean of all analyst targets is $132.33 which is 23.52% above today’s ($107.13) stock price. Netflix was the topic of 40 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc. Drexel Hamilton initiated shares on January 14 with a “Buy” rating. Credit Suisse maintained shares with a”Neutral” rating and a $124 target share price in their report from an October 15. Robert W. Baird downgraded NFLX stock in a recent report from January 4 to a “Neutral” rating. JP Morgan maintained the rating on October 15. JP Morgan has a “Overweight” rating and a $137 price target on shares. Finally, FBR Capital maintained the stock with a “Outperform” rating in a report they issued on an October 15.
The institutional sentiment increased to 1.54 in Q2 2015. It’s up 0.29, from 1.25 in 2015Q2. The ratio increased, as 58 funds sold all their Netflix, Inc. shares they owned while 194 reduced their positions. 149 funds bought stakes while 238 increased their total positions. Institutions now own 639.63 million shares which is 1081.93% more than the previous share count of 54.12 million in 2015Q2.
Srs Investment Management Llc holds 40.42% of its total portfolio in Netflix, Inc., equating to 11.81 million shares. Technology Crossover Management Vii Ltd. owns 5.04 million shares representing 34.23% of their total US portfolio. Moreover, Ctc Llc has 33.44% of their total portfolio invested in the company, equating to 645,718 shares. The Pennsylvania-based Barton Investment Management has a total of 29.76% of their portfolio invested in the stock. Tiger Global Management Llc, a New York-based fund reported 18.00 million shares owned.
Since February 25, 2015, the stock had 0 insider buys, and 14 sales for a total of $55.68 million in 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 $5.29 million. 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 $47.42 billion. The Firm has over 57 million streaming members in over 50 countries. It has 285.66 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.