Netflix (NASDAQ:NFLX) Stock Price Down 2.1%

Shares of Netflix, Inc. (NASDAQ:NFLX) were down 2.1% during trading on Wednesday . The company traded as low as $639.47 and last traded at $642.21. Approximately 1,018,418 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 3,869,567 shares. The stock had previously closed at $656.32.

Analyst Ratings Changes

A number of brokerages have recently commented on NFLX. The Goldman Sachs Group raised their target price on shares of Netflix from $650.00 to $659.00 and gave the stock a “neutral” rating in a research report on Friday. TD Cowen lifted their target price on Netflix from $725.00 to $775.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. KeyCorp upped their target price on Netflix from $707.00 to $735.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Needham & Company LLC restated a “buy” rating and set a $700.00 price target on shares of Netflix in a research note on Friday. Finally, Argus upped their price objective on shares of Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $666.71.

Netflix Trading Down 2.0 %

The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07. The company has a 50 day moving average of $655.28 and a 200 day moving average of $601.42. The stock has a market capitalization of $271.69 billion, a price-to-earnings ratio of 44.23, a P/E/G ratio of 1.40 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping the consensus estimate of $4.74 by $0.14. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The firm had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. During the same period last year, the firm posted $3.29 earnings per share. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, research analysts predict that Netflix, Inc. will post 18.35 EPS for the current fiscal year.

Insider Buying and Selling

In other Netflix news, CEO Gregory K. Peters sold 1,278 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $593.81, for a total value of $758,889.18. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $7,772,972.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Netflix news, CEO Gregory K. Peters sold 1,278 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $593.81, for a total value of $758,889.18. Following the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $7,772,972.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory K. Peters sold 4,783 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,835,750. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,385 shares of company stock worth $44,469,351. 1.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Netflix

Several large investors have recently modified their holdings of NFLX. Vanguard Group Inc. lifted its position in Netflix by 0.4% in the first quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock valued at $22,220,936,000 after buying an additional 149,341 shares during the last quarter. Capital World Investors raised its stake in shares of Netflix by 0.7% in the 4th quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock valued at $5,718,265,000 after acquiring an additional 78,320 shares during the period. Jennison Associates LLC lifted its holdings in shares of Netflix by 17.0% in the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after acquiring an additional 929,193 shares during the last quarter. Norges Bank purchased a new position in shares of Netflix during the 4th quarter worth approximately $2,558,598,000. Finally, Fisher Asset Management LLC increased its holdings in Netflix by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 4,121,104 shares of the Internet television network’s stock valued at $2,006,483,000 after purchasing an additional 78,298 shares during the last quarter. Institutional investors and hedge funds 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.