Netflix (NASDAQ:NFLX) Trading Down 2.6% – Here’s What Happened

Netflix, Inc. (NASDAQ:NFLX) dropped 2.6% during trading on Tuesday . The stock traded as low as $958.36 and last traded at $962.37. Approximately 1,527,355 shares traded hands during trading, a decline of 62% from the average daily volume of 4,070,114 shares. The stock had previously closed at $988.47.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NFLX. Loop Capital increased their price target on Netflix from $925.00 to $1,000.00 and gave the company a “hold” rating in a research note on Wednesday, January 22nd. Pivotal Research increased their price objective on shares of Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Rosenblatt Securities upgraded shares of Netflix from a “neutral” rating to a “buy” rating and raised their target price for the stock from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. Needham & Company LLC upped their price target on shares of Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, UBS Group increased their price target on shares of Netflix from $1,040.00 to $1,150.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,021.70.

Netflix Stock Down 1.7 %

The firm’s fifty day moving average is $941.89 and its 200-day moving average is $823.89. The company has a market capitalization of $415.73 billion, a P/E ratio of 48.99, a price-to-earnings-growth ratio of 2.12 and a beta of 1.27. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter in the previous year, the firm posted $2.11 earnings per share. The company’s revenue was up 16.0% on a year-over-year basis. As a group, equities research analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Insiders Place Their Bets

In other news, Director Richard N. Barton sold 6,364 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the sale, the director now directly owns 246 shares in the company, valued at approximately $216,327.48. The trade was a 96.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Gregory K. Peters sold 4,939 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total transaction of $5,087,170.00. Following the completion of the transaction, the chief executive officer now owns 12,950 shares of the company’s stock, valued at approximately $13,338,500. This trade represents a 27.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 303,220 shares of company stock valued at $289,856,164 in the last 90 days. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Several institutional investors have recently modified their holdings of NFLX. Norges Bank acquired a new stake in shares of Netflix in the fourth quarter valued at about $5,019,087,000. Proficio Capital Partners LLC raised its holdings in Netflix by 123,836.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock worth $1,716,662,000 after purchasing an additional 1,924,423 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Netflix by 59.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock worth $2,051,016,000 after purchasing an additional 856,307 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Netflix by 318.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock worth $870,752,000 after buying an additional 743,724 shares during the period. Finally, Northern Trust Corp grew its holdings in Netflix by 14.3% during the 4th quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network’s stock worth $4,076,903,000 after acquiring an additional 570,674 shares during the period. 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.