Netflix (NASDAQ:NFLX) Stock Price Down 0.2% – Here’s What Happened

Netflix, Inc. (NASDAQ:NFLX)’s stock price was down 0.2% on Wednesday . The company traded as low as $912.46 and last traded at $916.93. Approximately 393,392 shares traded hands during trading, a decline of 89% from the average daily volume of 3,601,659 shares. The stock had previously closed at $919.13.

Wall Street Analysts Forecast Growth

NFLX has been the subject of a number of research analyst reports. Canaccord Genuity Group increased their price target on shares of Netflix from $760.00 to $940.00 and gave the company a “hold” rating in a report on Monday, December 2nd. The Goldman Sachs Group set a $750.00 target price on shares of Netflix in a report on Friday, October 18th. Macquarie reiterated an “outperform” rating and set a $795.00 price target on shares of Netflix in a research report on Friday, October 18th. Loop Capital cut Netflix from a “buy” rating to a “hold” rating and upped their price target for the stock from $800.00 to $950.00 in a report on Monday. Finally, Wells Fargo & Company raised their price objective on Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $807.70.

Netflix Stock Up 1.4 %

The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average of $829.03 and a 200-day moving average of $726.56. The firm has a market cap of $385.58 billion, a price-to-earnings ratio of 51.05, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The firm had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. As a group, sell-side analysts forecast that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, CEO Theodore A. Sarandos sold 1,278 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $767.05, for a total value of $980,289.90. Following the sale, the chief executive officer now owns 2,556 shares of the company’s stock, valued at approximately $1,960,579.80. The trade was a 33.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gregory K. Peters sold 4,392 shares of Netflix stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total value of $3,184,200.00. Following the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $9,490,250. The trade was a 25.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 164,977 shares of company stock valued at $129,317,467 in the last quarter. Corporate insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several large investors have recently made changes to their positions in the business. International Assets Investment Management LLC lifted its stake in Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after purchasing an additional 5,748,200 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Netflix by 154.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after buying an additional 642,920 shares in the last quarter. State Street Corp boosted its stake in Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares during the period. Jennison Associates LLC grew its position in Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after purchasing an additional 316,594 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in Netflix during the 3rd quarter valued at $222,871,000. 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.