Netflix (NASDAQ:NFLX) Stock Price Down 3.2% – Here’s Why

Shares of Netflix, Inc. (NASDAQ:NFLX) traded down 3.2% during mid-day trading on Tuesday . The company traded as low as $919.02 and last traded at $919.70. 1,752,065 shares changed hands during trading, a decline of 49% from the average session volume of 3,419,125 shares. The stock had previously closed at $950.02.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NFLX shares. Evercore ISI lifted their price target on Netflix from $950.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Barclays raised Netflix from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $715.00 to $900.00 in a research report on Wednesday, January 22nd. Argus upped their price target on Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Needham & Company LLC boosted their price objective on shares of Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, Bank of America increased their target price on shares of Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,016.78.

Netflix Stock Up 3.2 %

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 firm has a market cap of $410.43 billion, a price-to-earnings ratio of 48.39, a PEG ratio of 2.12 and a beta of 1.38. The firm’s 50 day simple moving average is $955.11 and its two-hundred day simple moving average is $854.07.

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

Insider Buying and Selling at Netflix

In other news, Director Richard N. Barton sold 6,364 shares of Netflix stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total value of $5,596,374.32. Following the transaction, the director now owns 246 shares in the company, valued at approximately $216,327.48. This trade represents a 96.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gregory K. Peters sold 4,939 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the completion of the sale, the chief executive officer now directly owns 12,950 shares in the company, valued at $13,338,500. This trade represents a 27.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 288,103 shares of company stock valued at $279,142,041 in the last ninety days. 1.76% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Netflix

A number of hedge funds have recently made changes to their positions in NFLX. M1 Capital Management LLC bought a new position in shares of Netflix in the 4th quarter valued at $320,000. DSG Capital Advisors LLC bought a new stake in shares of Netflix during the fourth quarter worth about $5,812,000. 111 Capital acquired a new position in shares of Netflix in the fourth quarter valued at approximately $1,586,000. Members Wealth LLC bought a new position in Netflix in the 4th quarter valued at approximately $201,000. Finally, Lansforsakringar Fondforvaltning AB publ bought a new stake in Netflix during the 4th quarter worth approximately $170,281,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.