Netflix (NASDAQ:NFLX) Trading Down 0.6% – Here’s Why

Netflix, Inc. (NASDAQ:NFLX)’s stock price dropped 0.6% during trading on Monday . The stock traded as low as $1,171.71 and last traded at $1,184.04. Approximately 1,232,510 shares changed hands during trading, a decline of 67% from the average daily volume of 3,754,975 shares. The stock had previously closed at $1,191.53.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Piper Sandler set a $1,150.00 price objective on shares of Netflix and gave the company an “overweight” rating in a research note on Monday, April 21st. Phillip Securities raised Netflix from a “moderate sell” rating to a “hold” rating in a research note on Monday, April 21st. Citigroup reiterated a “neutral” rating on shares of Netflix in a report on Monday, May 5th. Moffett Nathanson restated a “buy” rating and set a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Finally, Canaccord Genuity Group boosted their price target on shares of Netflix from $1,200.00 to $1,380.00 and gave the company a “buy” rating in a report on Friday. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,102.79.

Netflix Price Performance

The company’s 50 day moving average is $1,009.34 and its 200-day moving average is $948.26. The firm has a market capitalization of $507.13 billion, a price-to-earnings ratio of 60.09, a P/E/G ratio of 2.12 and a beta of 1.58. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. During the same period in the previous year, the company posted $8.28 EPS. Equities research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Buying and Selling at Netflix

In related news, insider Cletus R. Willems sold 298 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $1,138.00, for a total value of $339,124.00. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $35,972,180. This represents a 0.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jeffrey William Karbowski sold 160 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $1,000.00, for a total transaction of $160,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 132,868 shares of company stock worth $138,483,256 over the last ninety days. Insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NFLX. Halbert Hargrove Global Advisors LLC boosted its holdings in Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock valued at $25,000 after purchasing an additional 13 shares during the period. Brown Shipley& Co Ltd bought a new stake in shares of Netflix in the fourth quarter valued at approximately $27,000. Pathway Financial Advisers LLC grew 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 worth $27,000 after buying an additional 14 shares in the last quarter. Transce3nd LLC acquired a new stake in Netflix during the fourth quarter worth approximately $32,000. Finally, Newton One Investments LLC bought a new position in Netflix during the 4th quarter worth $34,000. 80.93% of the stock is owned by institutional investors and hedge funds.

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.