Netflix (NASDAQ:NFLX) Trading Down 1.4% – Here’s Why

Netflix, Inc. (NASDAQ:NFLX) traded down 1.4% on Thursday . The stock traded as low as $919.15 and last traded at $919.15. 703,743 shares changed hands during trading, a decline of 80% from the average session volume of 3,590,475 shares. The stock had previously closed at $932.12.

Wall Street Analysts Forecast Growth

NFLX has been the topic of several research analyst reports. Sanford C. Bernstein raised their price objective on Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Oppenheimer lifted their price target on shares of Netflix from $825.00 to $1,065.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Wedbush reissued an “outperform” rating and issued a $950.00 price objective (up previously from $800.00) on shares of Netflix in a research note on Monday, November 18th. Pivotal Research boosted their target price on shares of Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, The Goldman Sachs Group set a $750.00 price target on Netflix in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $807.70.

Netflix Trading Down 1.8 %

The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market cap of $387.94 billion, a PE ratio of 51.36, a PEG ratio of 1.77 and a beta of 1.27. The stock’s 50 day simple moving average is $853.45 and its 200 day simple moving average is $738.13.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. On average, sell-side analysts forecast that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Insider Activity

In other Netflix news, Chairman Reed Hastings sold 48,363 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the completion of the transaction, the chairman now directly owns 114 shares in the company, valued at approximately $102,212.40. This represents a 99.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy M. Haley sold 11,090 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total transaction of $8,405,776.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 160,183 shares of company stock valued at $125,841,817. Insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

A number of institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp grew its position in Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after buying an additional 426,740 shares during the period. Geode Capital Management LLC raised its holdings in Netflix by 1.4% during the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after acquiring an additional 123,029 shares during the period. Jennison Associates LLC lifted its position in shares of Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after acquiring an additional 316,594 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Netflix by 116,620.0% in the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after acquiring an additional 5,748,200 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Netflix by 0.5% in the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after acquiring an additional 23,702 shares during the period. 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.