Netflix (NASDAQ:NFLX) Stock Price Down 1%

Shares of Netflix, Inc. (NASDAQ:NFLX) fell 1% during trading on Wednesday . The stock traded as low as $675.70 and last traded at $678.61. 663,323 shares changed hands during trading, a decline of 83% from the average session volume of 3,884,677 shares. The stock had previously closed at $685.74.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NFLX. Pivotal Research boosted their price target on Netflix from $765.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. KeyCorp raised their target price on Netflix from $707.00 to $735.00 and gave the stock an “overweight” rating in a report on Wednesday. CICC Research started coverage on Netflix in a report on Thursday, May 2nd. They set an “outperform” rating and a $650.00 price target for the company. Benchmark raised their price objective on Netflix from $440.00 to $450.00 and gave the stock a “sell” rating in a research note on Friday, May 17th. Finally, Macquarie lifted their price objective on Netflix from $595.00 to $685.00 and gave the company an “outperform” rating in a research report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $642.43.

Netflix Stock Performance

The firm’s fifty day moving average price is $650.34 and its 200 day moving average price is $595.84. The firm has a market cap of $281.66 billion, a P/E ratio of 45.30, a price-to-earnings-growth ratio of 1.46 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. The company had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. Netflix’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.88 earnings per share. Sell-side analysts expect that Netflix, Inc. will post 18.31 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In other Netflix news, CEO Gregory K. Peters sold 4,783 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $8,835,750. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Gregory K. Peters sold 4,783 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 13,090 shares in the company, valued at approximately $8,835,750. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 18,361 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $551.54, for a total value of $10,126,825.94. Following the completion of the sale, the chairman now directly owns 28 shares of the company’s stock, valued at approximately $15,443.12. The disclosure for this sale can be found here. Insiders have sold 71,385 shares of company stock worth $44,469,351 over the last quarter. Insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several hedge funds have recently modified their holdings of the stock. Obermeyer Wood Investment Counsel Lllp lifted its position in shares of Netflix by 2.8% during the first quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock worth $378,000 after purchasing an additional 17 shares in the last quarter. Private Portfolio Partners LLC lifted its holdings in Netflix by 1.7% during the 1st quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock worth $633,000 after buying an additional 17 shares in the last quarter. KFA Private Wealth Group LLC boosted its position in Netflix by 1.9% in the 4th quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock valued at $466,000 after buying an additional 18 shares during the period. Legacy Capital Group California Inc. grew its stake in shares of Netflix by 0.6% in the fourth quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network’s stock worth $1,379,000 after acquiring an additional 18 shares in the last quarter. Finally, Founders Financial Alliance LLC increased its position in shares of Netflix by 2.4% during the fourth quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock worth $369,000 after acquiring an additional 18 shares during the period. 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.