Netflix (NASDAQ:NFLX) Stock Price Down 1.3% Following Insider Selling

Netflix, Inc. (NASDAQ:NFLX) dropped 1.3% on Wednesday following insider selling activity. The company traded as low as $973.74 and last traded at $983.92. 1,371,516 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 3,478,515 shares. The stock had previously closed at $997.28.

Specifically, CAO Jeffrey William Karbowski sold 480 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $978.18, for a total value of $469,526.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Analyst Ratings Changes

Several brokerages recently issued reports on NFLX. Macquarie lifted their price target on shares of Netflix from $965.00 to $1,150.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Evercore ISI boosted their target price on Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Loop Capital reaffirmed a “hold” rating on shares of Netflix in a report on Monday. Barclays upgraded Netflix from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $715.00 to $900.00 in a research report on Wednesday, January 22nd. Finally, Sanford C. Bernstein upgraded Netflix from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $975.00 to $1,200.00 in a report on Friday, January 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.02.

Netflix Stock Performance

The stock’s 50 day moving average is $970.22 and its two-hundred day moving average is $864.96. The stock has a market capitalization of $399.46 billion, a price-to-earnings ratio of 47.09, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. The company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. Netflix’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.11 earnings per share. Analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Netflix

A number of large investors have recently bought and sold shares of the company. Norges Bank acquired a new position in Netflix during the fourth quarter worth $5,019,087,000. Proficio Capital Partners LLC boosted its stake in shares of Netflix by 123,836.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock worth $1,716,662,000 after buying an additional 1,924,423 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Netflix by 59.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock valued at $2,051,016,000 after acquiring an additional 856,307 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Netflix by 318.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock valued at $870,752,000 after acquiring an additional 743,724 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Netflix by 14.3% during the fourth quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network’s stock worth $4,076,903,000 after acquiring an additional 570,674 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

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.