Netflix (NASDAQ:NFLX) Trading Down 0.7% on Analyst Downgrade

Netflix, Inc. (NASDAQ:NFLX) shares dropped 0.7% on Monday after Canaccord Genuity Group downgraded the stock from a buy rating to a hold rating. Canaccord Genuity Group now has a $585.00 price target on the stock, down from their previous price target of $720.00. Netflix traded as low as $542.01 and last traded at $551.09. Approximately 3,492,896 shares were traded during trading, a decline of 21% from the average daily volume of 4,439,449 shares. The stock had previously closed at $555.04.

NFLX has been the topic of several other research reports. Oppenheimer increased their price target on shares of Netflix from $615.00 to $725.00 and gave the stock an “outperform” rating in a research report on Monday, March 11th. Evercore ISI boosted their price target on Netflix from $600.00 to $640.00 and gave the stock an “outperform” rating in a report on Thursday, March 14th. Bank of America upped their price objective on Netflix from $585.00 to $650.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. KeyCorp boosted their target price on Netflix from $580.00 to $705.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. Finally, Barclays raised their price target on shares of Netflix from $475.00 to $550.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and a consensus price target of $630.58.

Insider Transactions at Netflix

In other news, CEO Gregory K. Peters sold 5,533 shares of the company’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $575.00, for a total value of $3,181,475.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $7,526,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman Reed Hastings sold 20,566 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the sale, the chairman now owns 28 shares of the company’s stock, valued at approximately $17,091.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Gregory K. Peters sold 5,533 shares of Netflix stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $575.00, for a total value of $3,181,475.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $7,526,750. The disclosure for this sale can be found here. Insiders have sold 160,106 shares of company stock valued at $92,729,716 in the last quarter. Insiders own 2.45% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. BSW Wealth Partners boosted its holdings in shares of Netflix by 23.0% during the first quarter. BSW Wealth Partners now owns 1,486 shares of the Internet television network’s stock worth $902,000 after purchasing an additional 278 shares during the period. Bfsg LLC raised its position in Netflix by 37.3% during the 1st quarter. Bfsg LLC now owns 151 shares of the Internet television network’s stock valued at $92,000 after purchasing an additional 41 shares during the last quarter. Eads & Heald Wealth Management lifted its holdings in Netflix by 48.8% in the 1st quarter. Eads & Heald Wealth Management now owns 2,372 shares of the Internet television network’s stock worth $1,441,000 after buying an additional 778 shares during the period. Global Retirement Partners LLC grew its position in shares of Netflix by 6.8% in the 1st quarter. Global Retirement Partners LLC now owns 3,048 shares of the Internet television network’s stock worth $1,851,000 after buying an additional 194 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. raised its holdings in shares of Netflix by 241.2% during the first quarter. Cookson Peirce & Co. Inc. now owns 5,636 shares of the Internet television network’s stock valued at $3,423,000 after acquiring an additional 3,984 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

The business has a fifty day moving average of $606.05 and a 200 day moving average of $517.65. The company has a market cap of $248.95 billion, a P/E ratio of 40.09, a P/E/G ratio of 1.49 and a beta of 1.22. The company has a quick ratio of 1.12, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The business had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. During the same period in the previous year, the firm posted $2.88 EPS. The business’s revenue was up 14.8% on a year-over-year basis. On average, equities analysts predict that Netflix, Inc. will post 17.13 EPS for the current year.

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.