Netflix (NASDAQ:NFLX) Trading Down 0.7% – Here’s What Happened

Netflix, Inc. (NASDAQ:NFLX)’s share price was down 0.7% on Tuesday . The stock traded as low as $869.11 and last traded at $875.42. Approximately 760,117 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 2,326,388 shares. The stock had previously closed at $881.79.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NFLX shares. BMO Capital Markets reaffirmed an “outperform” rating and set a $825.00 price target (up from $770.00) on shares of Netflix in a research note on Friday, October 18th. Morgan Stanley upped their price target on Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Evercore ISI boosted their target price on Netflix from $775.00 to $950.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Rosenblatt Securities increased their price objective on shares of Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company upped their price target on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $821.27.

Netflix Stock Down 0.2 %

The company has a market cap of $376.15 billion, a P/E ratio of 49.80, a PEG ratio of 1.77 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The business’s 50 day moving average price is $869.23 and its 200-day moving average price is $748.42.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data 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. The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. On average, analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, Director Leslie J. Kilgore sold 383 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $730.00, for a total transaction of $279,590.00. Following the sale, the director now directly owns 35,262 shares of the company’s stock, valued at $25,741,260. This represents a 1.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Reed Hastings sold 35,868 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the completion of the sale, the chairman now owns 114 shares of the company’s stock, valued at $101,241.12. This trade represents a 99.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 150,761 shares of company stock valued at $125,713,484 in the last 90 days. 1.76% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Netflix

Several institutional investors and hedge funds have recently made changes to their positions in NFLX. Advisory Resource Group raised its stake in shares of Netflix by 0.7% during the 3rd quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network’s stock worth $1,238,000 after purchasing an additional 12 shares in the last quarter. Insight Wealth Strategies LLC raised its position in shares of Netflix by 1.9% in the 4th quarter. Insight Wealth Strategies LLC now owns 656 shares of the Internet television network’s stock valued at $585,000 after acquiring an additional 12 shares during the period. New World Advisors LLC boosted its position in shares of Netflix by 2.0% during the third quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock worth $514,000 after purchasing an additional 14 shares in the last quarter. Heartland Bank & Trust Co raised its stake in Netflix by 0.9% during the 2nd quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock worth $1,195,000 after buying an additional 15 shares during the period. Finally, Cedrus LLC grew its position in shares of Netflix by 0.8% in the 3rd quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock valued at $1,263,000 after purchasing an additional 15 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.