Netflix (NASDAQ:NFLX) Stock Price Down 1% – Here’s Why

Netflix, Inc. (NASDAQ:NFLX)’s share price fell 1% during mid-day trading on Wednesday . The stock traded as low as $889.47 and last traded at $891.32. 1,871,105 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 3,583,552 shares. The stock had previously closed at $900.43.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NFLX. Piper Sandler reiterated an “overweight” rating and set a $840.00 target price (up from $800.00) on shares of Netflix in a research report on Friday, October 18th. JPMorgan Chase & Co. raised their price target on shares of Netflix from $850.00 to $1,010.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Rosenblatt Securities lifted their price objective on Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Citigroup raised their target price on Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Finally, KeyCorp lifted their price objective on Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $807.70.

Netflix Stock Down 0.5 %

The firm has a market cap of $379.04 billion, a P/E ratio of 50.18, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. The firm’s 50 day moving average is $861.40 and its two-hundred day moving average is $743.72. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last announced its quarterly 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. The company had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. As a group, research analysts anticipate that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Insider Activity at Netflix

In other Netflix news, Director Anne M. Sweeney sold 589 shares of Netflix stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Gregory K. Peters sold 4,186 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $750.00, for a total value of $3,139,500.00. Following the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $9,817,500. The trade was a 24.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 114,893 shares of company stock worth $93,859,830. 1.76% of the stock is owned by company insiders.

Institutional Investors Weigh In On Netflix

Several institutional investors have recently bought and sold shares of NFLX. First National Trust Co increased its stake in Netflix by 4.5% in the 2nd quarter. First National Trust Co now owns 1,403 shares of the Internet television network’s stock valued at $947,000 after buying an additional 61 shares during the last quarter. Cozad Asset Management Inc. raised its holdings in Netflix by 29.1% during the second quarter. Cozad Asset Management Inc. now owns 879 shares of the Internet television network’s stock worth $593,000 after acquiring an additional 198 shares in the last quarter. Larson Financial Group LLC boosted its position in Netflix by 2.6% during the second quarter. Larson Financial Group LLC now owns 2,229 shares of the Internet television network’s stock valued at $1,504,000 after purchasing an additional 56 shares during the last quarter. GPM Growth Investors Inc. bought a new position in Netflix in the second quarter valued at approximately $219,000. Finally, Stablepoint Partners LLC increased its position in shares of Netflix by 2.1% during the 2nd quarter. Stablepoint Partners LLC now owns 4,317 shares of the Internet television network’s stock worth $2,707,000 after purchasing an additional 90 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

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.