Netflix (NASDAQ:NFLX) Stock Price Down 0.3% – Here’s Why

Netflix, Inc. (NASDAQ:NFLX)’s share price dropped 0.3% during mid-day trading on Monday . The company traded as low as $951.55 and last traded at $957.69. Approximately 1,614,162 shares changed hands during trading, a decline of 53% from the average daily volume of 3,470,459 shares. The stock had previously closed at $960.29.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Benchmark raised shares of Netflix from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. KeyCorp boosted their price objective on Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Needham & Company LLC lifted their target price on Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Canaccord Genuity Group upgraded Netflix from a “hold” rating to a “buy” rating and increased their price target for the company from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. Finally, Citigroup boosted their price objective on shares of Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Netflix has an average rating of “Moderate Buy” and an average price target of $1,016.78.

Netflix Stock Up 2.6 %

The company’s 50-day moving average is $965.09 and its 200 day moving average is $863.43. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $426.59 billion, a PE ratio of 50.29, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating the consensus estimate of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same quarter in the previous year, the business earned $2.11 EPS. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. As a group, analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Activity

In related news, Chairman Reed Hastings sold 35,868 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the sale, the chairman now owns 114 shares in the company, valued at approximately $101,241.12. This trade represents a 99.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gregory K. Peters sold 102,228 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the completion of the transaction, the chief executive officer now owns 12,950 shares of the company’s stock, valued at approximately $12,700,583. This trade represents a 88.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 288,103 shares of company stock valued at $279,142,041 in the last ninety days. Insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Institutional investors and hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. increased its holdings in Netflix by 13.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock worth $1,200,485,000 after acquiring an additional 198,148 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Netflix during the third quarter worth about $2,475,000. Brown Brothers Harriman & Co. raised its position in shares of Netflix by 5.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 4,356 shares of the Internet television network’s stock worth $3,090,000 after purchasing an additional 214 shares during the last quarter. Truvestments Capital LLC purchased a new position in Netflix in the 3rd quarter valued at about $240,000. Finally, Associated Banc Corp lifted its position in shares of Netflix by 374.2% in the third quarter. Associated Banc Corp now owns 6,312 shares of the Internet television network’s stock valued at $4,477,000 after acquiring an additional 4,981 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.