Netflix (NASDAQ:NFLX) Trading Down 2.6% – What’s Next?

Netflix, Inc. (NASDAQ:NFLX) dropped 2.6% during mid-day trading on Friday . The company traded as low as $894.50 and last traded at $900.46. Approximately 1,010,528 shares were traded during trading, a decline of 72% from the average daily volume of 3,586,696 shares. The stock had previously closed at $924.14.

Analysts Set New Price Targets

Several brokerages have commented on NFLX. UBS Group upped their target price on shares of Netflix from $825.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Canaccord Genuity Group increased their price target on Netflix from $760.00 to $940.00 and gave the stock a “hold” rating in a report on Monday, December 2nd. Citigroup lifted their price objective on Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. StockNews.com raised shares of Netflix from a “hold” rating to a “buy” rating in a research note on Saturday, December 21st. Finally, KeyCorp increased their price objective on Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $807.70.

Netflix Stock Down 2.4 %

The firm has a market cap of $385.66 billion, a price-to-earnings ratio of 51.06, a P/E/G ratio of 1.77 and a beta of 1.27. The firm has a fifty day simple moving average of $850.58 and a 200-day simple moving average of $736.30. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13.

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

Insider Activity

In related news, Director Timothy M. Haley sold 11,090 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total value of $8,405,776.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 45,290 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the transaction, the chairman now owns 85 shares of the company’s stock, valued at approximately $60,023.60. This represents a 99.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 160,183 shares of company stock valued at $125,841,817. 1.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. KCM Investment Advisors LLC increased its stake in shares of Netflix by 7.3% in the second quarter. KCM Investment Advisors LLC now owns 665 shares of the Internet television network’s stock valued at $449,000 after buying an additional 45 shares during the period. TFB Advisors LLC bought a new position in Netflix during the 2nd quarter worth approximately $328,000. Hantz Financial Services Inc. acquired a new position in shares of Netflix in the 2nd quarter worth approximately $38,445,000. Integral Investment Advisors Inc. bought a new stake in shares of Netflix in the 2nd quarter valued at $226,000. Finally, MBA Advisors LLC acquired a new stake in shares of Netflix during the second quarter worth $209,000. 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.