Netflix (NASDAQ:NFLX) Trading Down 1.3% – Here’s Why

Netflix, Inc. (NASDAQ:NFLX) dropped 1.3% during trading on Thursday . The stock traded as low as $685.57 and last traded at $692.73. Approximately 1,688,707 shares traded hands during trading, a decline of 53% from the average daily volume of 3,626,474 shares. The stock had previously closed at $702.00.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on NFLX shares. Wedbush upped their price objective on shares of Netflix from $725.00 to $775.00 and gave the stock an “overweight” rating in a research report on Thursday. Redburn Atlantic increased their price target on shares of Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Evercore ISI increased their target price on Netflix from $710.00 to $750.00 and gave the company an “outperform” rating in a research note on Tuesday, August 27th. Finally, Benchmark reaffirmed a “sell” rating and set a $545.00 price target on shares of Netflix in a research note on Tuesday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $705.74.

Netflix Trading Down 1.8 %

The company has a market cap of $297.05 billion, a P/E ratio of 48.43, a PEG ratio of 1.49 and a beta of 1.26. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The stock’s 50 day moving average is $692.63 and its 200-day moving average is $653.38.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating the consensus estimate of $4.74 by $0.14. The company had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.29 earnings per share. Research analysts anticipate that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Netflix news, Director Leslie J. Kilgore sold 383 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $730.00, for a total transaction of $279,590.00. Following the transaction, the director now owns 35,262 shares in the company, valued at approximately $25,741,260. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Netflix news, Chairman Reed Hastings sold 45,290 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total value of $31,981,986.40. Following the transaction, the chairman now owns 85 shares of the company’s stock, valued at approximately $60,023.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leslie J. Kilgore sold 383 shares of the business’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the sale, the director now owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 225,167 shares of company stock valued at $150,492,460. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Denver PWM LLC bought a new position in Netflix in the 2nd quarter worth $25,000. Valued Wealth Advisors LLC lifted its position in shares of Netflix by 80.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after buying an additional 20 shares in the last quarter. Proffitt & Goodson Inc. lifted its position in shares of Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after buying an additional 38 shares in the last quarter. AlphaMark Advisors LLC increased its holdings in Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after acquiring an additional 45 shares in the last quarter. Finally, Indiana Trust & Investment Management CO raised its stake in Netflix by 112.0% during the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 28 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

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.