Netflix (NASDAQ:NFLX) Trading Down 2.6% – Here’s What Happened

Netflix, Inc. (NASDAQ:NFLX) was down 2.6% on Tuesday . The stock traded as low as $958.36 and last traded at $962.37. Approximately 1,527,355 shares changed hands during trading, a decline of 62% from the average daily volume of 4,070,114 shares. The stock had previously closed at $988.47.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. StockNews.com downgraded shares of Netflix from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. KeyCorp increased their price objective on Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Wedbush reaffirmed an “outperform” rating and set a $1,150.00 target price (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Loop Capital raised their price target on shares of Netflix from $925.00 to $1,000.00 and gave the stock a “hold” rating in a report on Wednesday, January 22nd. Finally, Citigroup upped their price objective on shares of Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Ten research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average target price of $1,021.70.

Netflix Stock Down 1.7 %

The firm’s 50 day moving average price is $941.89 and its 200-day moving average price is $823.89. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market cap of $415.73 billion, a P/E ratio of 48.99, a price-to-earnings-growth ratio of 2.12 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period last year, the firm earned $2.11 earnings per share. As a group, equities research analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Activity at Netflix

In other Netflix news, CEO Gregory K. Peters sold 102,228 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $980.74, for a total value of $100,259,088.72. Following the completion of the sale, the chief executive officer now owns 12,950 shares of the company’s stock, valued at approximately $12,700,583. This represents a 88.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Spencer Adam Neumann sold 685 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $1,009.57, for a total transaction of $691,555.45. Following the completion of the sale, the chief financial officer now owns 3,691 shares of the company’s stock, valued at approximately $3,726,322.87. This represents a 15.65 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 303,220 shares of company stock worth $289,856,164. 1.76% of the stock is owned by insiders.

Institutional Trading of Netflix

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Integrated Advisors Network LLC increased its holdings in Netflix by 2.4% during the fourth quarter. Integrated Advisors Network LLC now owns 7,383 shares of the Internet television network’s stock worth $6,581,000 after buying an additional 175 shares during the last quarter. Polar Asset Management Partners Inc. grew its position in shares of Netflix by 270.4% in the 4th quarter. Polar Asset Management Partners Inc. now owns 26,300 shares of the Internet television network’s stock valued at $23,442,000 after acquiring an additional 19,200 shares during the period. Instrumental Wealth LLC acquired a new position in shares of Netflix during the 4th quarter worth about $209,000. Great Valley Advisor Group Inc. raised its holdings in shares of Netflix by 1.7% in the 4th quarter. Great Valley Advisor Group Inc. now owns 8,497 shares of the Internet television network’s stock valued at $7,573,000 after purchasing an additional 143 shares during the period. Finally, Cypress Asset Management Inc. TX acquired a new stake in Netflix in the 4th quarter valued at about $263,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.