Netflix (NASDAQ:NFLX) Stock Price Down 0.8% – What’s Next?

Netflix, Inc. (NASDAQ:NFLX)’s stock price traded down 0.8% during trading on Tuesday . The company traded as low as $911.50 and last traded at $925.39. 1,071,945 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 3,577,790 shares. The stock had previously closed at $932.53.

Analyst Ratings Changes

Several analysts have recently weighed in on NFLX shares. Piper Sandler reaffirmed an “overweight” rating and set a $1,100.00 price objective (up previously from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. FBN Securities began coverage on Netflix in a report on Thursday, March 27th. They set an “outperform” rating and a $1,165.00 price target for the company. Argus boosted their price objective on Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Loop Capital restated a “hold” rating on shares of Netflix in a research note on Monday, March 24th. Finally, Bank of America upped their price target on shares of Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,023.74.

Netflix Price Performance

The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The company’s 50-day moving average price is $974.03 and its 200-day moving average price is $873.22. The company has a market cap of $400.18 billion, a P/E ratio of 47.18, a P/E/G ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last announced its 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. 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 period in the prior year, the business earned $2.11 EPS. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, sell-side analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, Chairman Reed Hastings sold 25,360 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total value of $23,360,364.00. Following the sale, the chairman now owns 394 shares of the company’s stock, valued at $362,933.10. The trade was a 98.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard N. Barton sold 6,364 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the completion of the transaction, the director now directly owns 246 shares of the company’s stock, valued at approximately $216,327.48. This trade represents a 96.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 280,676 shares of company stock worth $273,515,672. Corporate insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NFLX. Principal Financial Group Inc. raised its position in Netflix by 13.3% during the third 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. Jacobs Levy Equity Management Inc. raised its holdings in shares of Netflix by 43.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 32,902 shares of the Internet television network’s stock valued at $23,336,000 after purchasing an additional 10,001 shares during the period. Integrated Wealth Concepts LLC lifted its stake in Netflix by 1.6% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 10,977 shares of the Internet television network’s stock valued at $7,786,000 after purchasing an additional 178 shares during the last quarter. IHT Wealth Management LLC grew its holdings in Netflix by 8.8% during the third quarter. IHT Wealth Management LLC now owns 5,783 shares of the Internet television network’s stock worth $4,110,000 after purchasing an additional 470 shares during the period. Finally, Motley Fool Asset Management LLC increased its position in Netflix by 5.7% during the third quarter. Motley Fool Asset Management LLC now owns 19,879 shares of the Internet television network’s stock worth $14,037,000 after buying an additional 1,075 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

About Netflix

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.