Netflix (NASDAQ:NFLX) Shares Down 0.7% – What’s Next?

Netflix, Inc. (NASDAQ:NFLX)’s share price was down 0.7% during trading on Tuesday . The company traded as low as $1,179.02 and last traded at $1,182.86. Approximately 602,143 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 3,748,756 shares. The stock had previously closed at $1,191.64.

Analysts Set New Price Targets

NFLX has been the topic of several analyst reports. Canaccord Genuity Group lifted their target price on shares of Netflix from $1,200.00 to $1,380.00 and gave the stock a “buy” rating in a research note on Friday. FBN Securities assumed coverage on shares of Netflix in a research note on Thursday, March 27th. They set an “outperform” rating and a $1,165.00 price objective for the company. Piper Sandler set a $1,150.00 target price on Netflix and gave the stock an “overweight” rating in a research note on Monday, April 21st. Oppenheimer restated an “outperform” rating and set a $1,200.00 price target (up previously from $1,150.00) on shares of Netflix in a report on Friday, April 18th. Finally, Wells Fargo & Company increased their price objective on Netflix from $1,210.00 to $1,222.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. Eleven research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,102.79.

Netflix Price Performance

The company has a 50 day moving average of $1,014.78 and a two-hundred day moving average of $951.31. The firm has a market cap of $504.95 billion, a P/E ratio of 59.69, a PEG ratio of 2.12 and a beta of 1.58. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. The firm had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same quarter last year, the business posted $8.28 EPS. Sell-side analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Transactions at Netflix

In other news, Director Jay C. Hoag sold 32,515 shares of the business’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the completion of the sale, the director now directly owns 79,040 shares in the company, valued at approximately $87,099,708.80. The trade was a 29.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction dated Monday, March 3rd. The stock was 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 in the company, 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. Insiders sold 132,868 shares of company stock valued at $138,483,256 in the last three months. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Netflix by 109,524.3% during the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock valued at $8,239,576,000 after acquiring an additional 8,827,662 shares during the period. Norges Bank bought a new position in Netflix during the 4th quarter valued at about $5,019,087,000. Nuveen LLC acquired a new position in Netflix in the first quarter valued at about $2,385,585,000. Proficio Capital Partners LLC grew its stake in Netflix by 123,836.7% during the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock worth $1,716,662,000 after buying an additional 1,924,423 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Netflix by 57.3% in the first quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network’s stock valued at $3,164,134,000 after acquiring an additional 1,236,251 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

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.