Netflix (NASDAQ:NFLX) Trading Down 1.1% – What’s Next?

Shares of Netflix, Inc. (NASDAQ:NFLX) fell 1.1% on Monday . The company traded as low as $1,276.02 and last traded at $1,282.48. 803,214 shares were traded during trading, a decline of 79% from the average session volume of 3,754,514 shares. The stock had previously closed at $1,297.18.

Analysts Set New Price Targets

A number of research firms recently weighed in on NFLX. BMO Capital Markets reissued an “outperform” rating and set a $1,200.00 target price (up from $1,175.00) on shares of Netflix in a report on Friday, April 18th. Wolfe Research set a $1,340.00 price objective on Netflix and gave the stock an “outperform” rating in a research report on Friday, May 16th. Benchmark reaffirmed a “hold” rating on shares of Netflix in a report on Monday, April 21st. Rosenblatt Securities increased their price target on Netflix from $1,494.00 to $1,514.00 and gave the company a “buy” rating in a research note on Monday, April 21st. Finally, FBN Securities started coverage on Netflix in a research note on Thursday, March 27th. They issued an “outperform” rating and a $1,165.00 price target for the company. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and an average price target of $1,182.58.

Netflix Stock Performance

The company has a 50-day simple moving average of $1,207.87 and a two-hundred day simple moving average of $1,038.56. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. The firm has a market cap of $547.67 billion, a PE ratio of 60.84, a PEG ratio of 2.35 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The business had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.51 billion. During the same quarter in the previous year, the firm earned $8.28 earnings per share. As a group, equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insiders Place Their Bets

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $1,132.38, for a total transaction of $2,945,320.38. Following the sale, the chief financial officer directly owned 3,691 shares of the company’s stock, valued at $4,179,614.58. This represents a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bradford L. Smith sold 3,919 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total value of $4,405,974.94. Following the sale, the director directly owned 7,969 shares in the company, valued at $8,959,227.94. This trade represents a 32.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 186,723 shares of company stock worth $223,307,201 in the last ninety days. Company insiders own 1.37% of the company’s stock.

Hedge Funds Weigh In On Netflix

Institutional investors have recently modified their holdings of the company. Halbert Hargrove Global Advisors LLC grew its position in Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock worth $25,000 after acquiring an additional 13 shares during the last quarter. Brown Shipley& Co Ltd purchased a new stake in shares of Netflix in the fourth quarter worth $27,000. Transce3nd LLC purchased a new stake in shares of Netflix in the fourth quarter worth $32,000. Copia Wealth Management purchased a new stake in shares of Netflix in the fourth quarter worth $37,000. Finally, Flaharty Asset Management LLC purchased a new stake in shares of Netflix in the first quarter worth $37,000. 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.