Netflix (NASDAQ:NFLX) Stock Price Down 0.7% After Insider Selling

Netflix, Inc. (NASDAQ:NFLX)’s share price fell 0.7% during mid-day trading on Friday following insider selling activity. The stock traded as low as $973.24 and last traded at $978.00. 1,492,618 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 4,569,157 shares. The stock had previously closed at $984.86.

Specifically, Director Jay C. Hoag sold 617 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total value of $604,481.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Canaccord Genuity Group upgraded shares of Netflix from a “hold” rating to a “buy” rating and boosted their target price for the company from $940.00 to $1,150.00 in a research note on Wednesday. StockNews.com downgraded shares of Netflix from a “buy” rating to a “hold” rating in a research report on Thursday. Pivotal Research raised their target price on Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their price target on Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a report on Wednesday. Nine research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and an average price target of $1,021.70.

Netflix Trading Down 0.7 %

The stock has a market cap of $417.88 billion, a PE ratio of 49.30, a price-to-earnings-growth ratio of 1.53 and a beta of 1.27. The company’s 50-day moving average price is $895.13 and its 200 day moving average price is $766.98. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.22.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10,141,900 billion. During the same quarter in the previous year, the business earned $2.11 earnings per share. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, sell-side analysts forecast that Netflix, Inc. will post 23.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Beaird Harris Wealth Management LLC increased its holdings in Netflix by 113.3% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 96 shares of the Internet television network’s stock valued at $65,000 after purchasing an additional 51 shares during the last quarter. Dorsey Wright & Associates boosted its position in shares of Netflix by 2.3% during the second quarter. Dorsey Wright & Associates now owns 3,193 shares of the Internet television network’s stock worth $2,155,000 after buying an additional 71 shares during the period. Raab & Moskowitz Asset Management LLC grew its stake in shares of Netflix by 13.1% in the second quarter. Raab & Moskowitz Asset Management LLC now owns 1,061 shares of the Internet television network’s stock valued at $716,000 after buying an additional 123 shares in the last quarter. Kathmere Capital Management LLC purchased a new stake in shares of Netflix in the 2nd quarter valued at $416,000. Finally, Ascent Group LLC lifted its stake in Netflix by 9.8% during the 2nd quarter. Ascent Group LLC now owns 5,421 shares of the Internet television network’s stock worth $3,659,000 after acquiring an additional 485 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Company Profile

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.