Netflix (NASDAQ:NFLX) Stock Price Down 0.3% – Here’s What Happened

Netflix, Inc. (NASDAQ:NFLX) shares dropped 0.3% during trading on Monday . The company traded as low as $749.94 and last traded at $752.05. Approximately 523,632 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 3,706,297 shares. The stock had previously closed at $754.68.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Argus boosted their target price on shares of Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Wells Fargo & Company increased their price target on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, Bank of America raised their target price on shares of Netflix from $740.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $747.70.

Netflix Price Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 0.95. The company has a market capitalization of $323.67 billion, a P/E ratio of 52.19, a price-to-earnings-growth ratio of 1.48 and a beta of 1.26. The firm’s 50-day moving average is $706.67 and its 200-day moving average is $659.88.

Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 45,290 shares of Netflix stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the transaction, the chairman now directly owns 85 shares in the company, valued at approximately $60,023.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Netflix news, Chairman Reed Hastings sold 45,290 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the sale, the chairman now owns 85 shares in the company, valued at approximately $60,023.60. This trade 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 the SEC website. Also, CEO Gregory K. Peters sold 1,278 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total transaction of $785,254.32. Following the completion of the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,043,019.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 229,711 shares of company stock worth $153,905,830 in the last three months. Corporate insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Netflix by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock valued at $22,220,936,000 after purchasing an additional 149,341 shares during the period. Jennison Associates LLC raised its position in shares of Netflix by 17.0% during the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after buying an additional 929,193 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Netflix by 116,620.0% in the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after buying an additional 5,748,200 shares in the last quarter. Baillie Gifford & Co. boosted its position in shares of Netflix by 2.3% during the second quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock worth $3,213,825,000 after acquiring an additional 106,756 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in Netflix by 3.1% during the second quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock valued at $2,327,738,000 after acquiring an additional 104,332 shares in the last quarter. 80.93% of the stock is currently 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.