Netflix (NASDAQ:NFLX) Trading Down 0.8% – Here’s Why

Netflix, Inc. (NASDAQ:NFLX) fell 0.8% during mid-day trading on Tuesday . The company traded as low as $702.37 and last traded at $703.37. 899,650 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 3,688,726 shares. The stock had previously closed at $709.27.

Analyst Ratings Changes

NFLX has been the topic of a number of research reports. Argus boosted their target price on shares of Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Jefferies Financial Group increased their price objective on Netflix from $655.00 to $780.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $700.00 target price on shares of Netflix in a report on Friday, July 19th. UBS Group upped their price target on Netflix from $685.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. raised their price objective on Netflix from $650.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $686.03.

Netflix Stock Performance

The company has a 50-day moving average of $673.63 and a 200-day moving average of $646.74. The company has a market cap of $304.63 billion, a PE ratio of 48.92, a PEG ratio of 1.44 and a beta of 1.26. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The firm had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. During the same quarter in the prior year, the business posted $3.29 EPS. The business’s revenue was up 16.8% compared to the same quarter last year. As a group, analysts anticipate that Netflix, Inc. will post 19.08 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Gregory K. Peters sold 4,392 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total transaction of $3,184,200.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $9,490,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Gregory K. Peters sold 4,392 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total transaction of $3,184,200.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares in the company, valued at $9,490,250. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Reed Hastings sold 25,599 shares of Netflix stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the completion of the sale, the chairman now directly owns 57 shares in the company, valued at approximately $35,991.51. The disclosure for this sale can be found here. Insiders have sold a total of 224,784 shares of company stock valued at $150,212,870 in the last 90 days. 1.76% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Netflix

Several institutional investors and hedge funds have recently bought and sold shares of the company. Denver PWM LLC bought a new stake in shares of Netflix in the second quarter valued at approximately $25,000. Valued Wealth Advisors LLC raised its holdings in Netflix by 80.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 20 shares during the period. VitalStone Financial LLC lifted its position in shares of Netflix by 933.3% during the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after acquiring an additional 56 shares in the last quarter. Beaird Harris Wealth Management LLC boosted its holdings in shares of Netflix by 1,550.0% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 62 shares during the period. Finally, Scarborough Advisors LLC purchased a new position in shares of Netflix in the fourth quarter valued at $32,000. 80.93% of the stock is 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.