Netflix (NASDAQ:NFLX) Trading Down 0.3% – Here’s What Happened

Netflix, Inc. (NASDAQ:NFLX) dropped 0.3% on Monday . The stock traded as low as $951.55 and last traded at $957.69. Approximately 1,614,162 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 3,470,459 shares. The stock had previously closed at $960.29.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NFLX shares. Morgan Stanley upped their target price on Netflix from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Citigroup upped their price objective on Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Barclays raised shares of Netflix from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $715.00 to $900.00 in a research note on Wednesday, January 22nd. Wolfe Research upgraded shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 target price on the stock in a report on Thursday, January 23rd. Finally, Moffett Nathanson upgraded shares of Netflix from a “neutral” rating to a “buy” rating and increased their price target for the company from $850.00 to $1,100.00 in a research note on Monday, March 17th. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,016.78.

Netflix Trading Up 0.9 %

The firm’s fifty day simple moving average is $959.08 and its 200 day simple moving average is $859.06. The stock has a market capitalization of $414.27 billion, a P/E ratio of 48.81, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. 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 quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter last year, the business posted $2.11 EPS. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. As a group, equities research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Transactions at Netflix

In other Netflix news, Chairman Reed Hastings sold 30,485 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $981.92, for a total transaction of $29,933,831.20. Following the sale, the chairman now owns 394 shares of the company’s stock, valued at approximately $386,876.48. The trade was a 98.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $982.05, for a total value of $2,554,312.05. Following the completion of the transaction, the chief financial officer now owns 3,691 shares of the company’s stock, valued at $3,624,746.55. The trade was a 41.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 288,103 shares of company stock valued at $279,142,041. Corporate insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. RPg Family Wealth Advisory LLC acquired a new position in shares of Netflix in the third quarter valued at approximately $25,000. Pathway Financial Advisers LLC increased its position in Netflix by 82.4% in the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 14 shares during the period. Brown Shipley& Co Ltd acquired a new position in Netflix in the 4th quarter valued at approximately $27,000. Transce3nd LLC bought a new position in shares of Netflix during the fourth quarter valued at $32,000. Finally, Newton One Investments LLC acquired a new position in shares of Netflix during the fourth quarter worth $34,000. 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.