Netflix (NASDAQ:NFLX) Trading Down 1.9% – Here’s Why

Netflix, Inc. (NASDAQ:NFLX)’s share price dropped 1.9% during trading on Thursday . The company traded as low as $1,015.59 and last traded at $1,023.25. Approximately 943,970 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 4,079,264 shares. The stock had previously closed at $1,043.33.

Wall Street Analyst Weigh In

NFLX has been the topic of several analyst reports. Sanford C. Bernstein raised Netflix from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $975.00 to $1,200.00 in a research report on Friday, January 24th. Barclays upgraded shares of Netflix from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $715.00 to $900.00 in a report on Wednesday, January 22nd. Benchmark upgraded shares of Netflix from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. Rosenblatt Securities raised shares of Netflix from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. upped their target price on Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Ten research 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 stock. According to MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.70.

Netflix Trading Down 2.3 %

The company has a 50 day moving average of $936.88 and a two-hundred day moving average of $814.17. The stock has a market capitalization of $435.84 billion, a PE ratio of 51.33, a P/E/G ratio of 2.15 and a beta of 1.27. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

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

Insider Buying and Selling at Netflix

In related news, CEO Gregory K. Peters sold 4,939 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the transaction, the chief executive officer now owns 12,950 shares in the company, valued at approximately $13,338,500. This represents a 27.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the sale, the chairman now owns 114 shares of the company’s stock, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 303,220 shares of company stock worth $289,856,164. 1.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NFLX. RPg Family Wealth Advisory LLC acquired a new position in shares of Netflix in the 3rd quarter valued at about $25,000. Pathway Financial Advisers LLC raised its position in Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 14 shares in the last quarter. Brown Shipley& Co Ltd acquired a new position in Netflix in the fourth quarter valued at approximately $27,000. Transce3nd LLC purchased a new stake in Netflix in the 4th quarter worth approximately $32,000. Finally, E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares during the period. 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.