Netflix (NASDAQ:NFLX) Trading Down 0% – Here’s Why

Netflix, Inc. (NASDAQ:NFLX)’s stock price dropped 0% during mid-day trading on Friday . The stock traded as low as $1,019.32 and last traded at $1,024.20. Approximately 765,464 shares were traded during trading, a decline of 81% from the average daily volume of 4,049,577 shares. The stock had previously closed at $1,024.54.

Analyst Upgrades and Downgrades

NFLX has been the subject of several research reports. JPMorgan Chase & Co. lifted their price target on Netflix from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Barclays raised Netflix from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $715.00 to $900.00 in a research note on Wednesday, January 22nd. Benchmark raised Netflix from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. Wolfe Research raised Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price target for the company in a research note on Thursday, January 23rd. Finally, UBS Group lifted their price target on Netflix from $1,040.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and an average price target of $1,021.70.

Netflix Stock Performance

The firm has a fifty day moving average price of $938.86 and a 200 day moving average price of $815.63. The firm has a market capitalization of $429.77 billion, a PE ratio of 50.56, a P/E/G ratio of 2.16 and a beta of 1.27. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.20 by $0.07. The firm had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.11 EPS. Research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Activity at Netflix

In other news, insider David A. Hyman sold 41,121 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $979.01, for a total value of $40,257,870.21. Following the sale, the insider now directly owns 31,610 shares in the company, valued at $30,946,506.10. The trade was a 56.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Strive Masiyiwa sold 2,813 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total value of $2,835,138.31. The disclosure for this sale can be found here. Insiders sold 303,220 shares of company stock valued at $289,856,164 in the last three months. Corporate insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. AMF Tjanstepension AB boosted its stake in Netflix by 7.4% in the 3rd quarter. AMF Tjanstepension AB now owns 68,460 shares of the Internet television network’s stock valued at $48,557,000 after purchasing an additional 4,701 shares during the period. Swedbank AB boosted its stake in Netflix by 1.8% in the 3rd quarter. Swedbank AB now owns 465,208 shares of the Internet television network’s stock valued at $329,958,000 after purchasing an additional 8,024 shares during the period. Stanley Laman Group Ltd. boosted its stake in Netflix by 40.7% in the 3rd quarter. Stanley Laman Group Ltd. now owns 1,079 shares of the Internet television network’s stock valued at $765,000 after purchasing an additional 312 shares during the period. Private Advisor Group LLC boosted its stake in Netflix by 4.5% in the 3rd quarter. Private Advisor Group LLC now owns 24,810 shares of the Internet television network’s stock valued at $17,597,000 after purchasing an additional 1,060 shares during the period. Finally, Lecap Asset Management Ltd. bought a new stake in Netflix in the 3rd quarter valued at $990,000. Institutional investors and hedge funds 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.