Netflix (NASDAQ:NFLX) Stock Price Down 0.3% Following Insider Selling

Netflix, Inc. (NASDAQ:NFLX)’s share price dropped 0.3% during trading on Thursday after an insider sold shares in the company. The company traded as low as $971.25 and last traded at $987.25. Approximately 1,179,308 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 3,290,523 shares. The stock had previously closed at $990.06.

Specifically, CAO Jeffrey William Karbowski sold 160 shares of Netflix stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $1,000.00, for a total value of $160,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analysts Forecast Growth

NFLX has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a research note on Wednesday, January 22nd. Sanford C. Bernstein raised shares of Netflix from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $975.00 to $1,200.00 in a report on Friday, January 24th. Citigroup upped their price objective on shares of Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Guggenheim upped their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Finally, Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and upped their price objective for the company from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,021.70.

Netflix Price Performance

The stock’s 50-day moving average price is $947.72 and its 200 day moving average price is $830.81. The firm has a market capitalization of $419.44 billion, a price-to-earnings ratio of 49.45, a PEG ratio of 2.12 and a beta of 1.27. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

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, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the prior year, the firm posted $2.11 earnings per share. Netflix’s quarterly revenue was up 16.0% on a year-over-year basis. Equities research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Netflix

A number of hedge funds have recently modified their holdings of NFLX. RPg Family Wealth Advisory LLC purchased a new stake in shares of Netflix in the third quarter valued at about $25,000. Pathway Financial Advisers LLC boosted its stake in Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after buying an additional 14 shares during the period. Brown Shipley& Co Ltd purchased a new position in Netflix during the fourth quarter worth about $27,000. Transce3nd LLC purchased a new position in Netflix during the fourth quarter worth about $32,000. Finally, Newton One Investments LLC purchased a new position in Netflix during the fourth quarter worth about $34,000. 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.