Netflix (NASDAQ:NFLX) Stock Price Down 0.6% – Here’s What Happened

Shares of Netflix, Inc. (NASDAQ:NFLX) fell 0.6% during trading on Tuesday . The stock traded as low as $833.31 and last traded at $835.18. 639,321 shares traded hands during trading, a decline of 77% from the average session volume of 2,761,806 shares. The stock had previously closed at $840.29.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NFLX. Wedbush restated an “outperform” rating and set a $950.00 target price (up from $800.00) on shares of Netflix in a report on Monday, November 18th. The Goldman Sachs Group raised their price objective on Netflix from $750.00 to $850.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. UBS Group boosted their target price on Netflix from $825.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Jefferies Financial Group increased their price target on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $680.00 price objective on shares of Netflix in a report on Thursday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Netflix has an average rating of “Moderate Buy” and an average target price of $845.06.

Netflix Price Performance

The stock’s 50 day moving average price is $882.41 and its two-hundred day moving average price is $756.61. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market capitalization of $360.08 billion, a price-to-earnings ratio of 47.67, a PEG ratio of 1.35 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. On average, equities research analysts anticipate that Netflix, Inc. will post 19.78 EPS for the current year.

Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 48,363 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the transaction, the chairman now directly owns 114 shares in the company, valued at $102,212.40. The trade was a 99.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gregory K. Peters sold 4,186 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $750.00, for a total value of $3,139,500.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $9,817,500. This trade represents a 24.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 156,742 shares of company stock worth $131,030,268 in the last ninety days. 1.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Netflix

Institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp boosted its position in shares of Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after acquiring an additional 426,740 shares in the last quarter. Geode Capital Management LLC lifted its stake in Netflix by 1.4% during the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after purchasing an additional 123,029 shares during the period. Jennison Associates LLC boosted its holdings in Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Netflix by 116,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after purchasing an additional 5,748,200 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of Netflix by 0.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after buying an additional 23,702 shares in the last quarter. Institutional investors 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.