Netflix (NASDAQ:NFLX) Stock Price Down 0% Following Analyst Downgrade

Netflix, Inc. (NASDAQ:NFLX) was down 0% during mid-day trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $1,010.00 to $1,000.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Netflix traded as low as $829.14 and last traded at $837.51. Approximately 899,204 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 2,757,333 shares. The stock had previously closed at $837.69.

Several other equities research analysts also recently commented on NFLX. Benchmark boosted their target price on shares of Netflix from $555.00 to $720.00 and gave the stock a “sell” rating in a research report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft increased their price objective on Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Morgan Stanley lifted their target price on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Wedbush reissued an “outperform” rating and issued a $950.00 price target (up from $800.00) on shares of Netflix in a research report on Monday, November 18th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $825.00 price objective (up from $770.00) on shares of Netflix in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and an average target price of $841.27.

Insider Activity at Netflix

In related news, Director Richard N. Barton sold 5,698 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $756.00, for a total value of $4,307,688.00. Following the completion of the sale, the director now owns 246 shares of the company’s stock, valued at $185,976. This trade represents a 95.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gregory K. Peters sold 4,186 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $750.00, for a total transaction of $3,139,500.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $9,817,500. This trade represents a 24.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 156,742 shares of company stock valued at $131,030,268. Corporate insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Institutional investors have recently modified their holdings of the stock. DigitalBridge Group Inc. boosted its holdings in shares of Netflix by 35.5% in the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after buying an additional 9,451 shares during the last quarter. Nordea Investment Management AB lifted its position in Netflix by 22.7% in the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after buying an additional 156,958 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Netflix by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock valued at $1,829,494,000 after purchasing an additional 29,726 shares during the period. Natixis Advisors LLC lifted its holdings in shares of Netflix by 2.0% in the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock worth $434,398,000 after buying an additional 11,921 shares during the period. Finally, M&T Bank Corp increased its holdings in Netflix by 4.2% during the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after buying an additional 1,684 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Down 1.4 %

The firm has a market capitalization of $354.11 billion, a P/E ratio of 46.88, a PEG ratio of 1.77 and a beta of 1.27. 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 business’s fifty day moving average price is $881.04 and its two-hundred day moving average price is $755.96.

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

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.