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

Netflix, Inc. (NASDAQ:NFLX)’s share price traded down 0.3% during mid-day trading on Thursday . The stock traded as low as $971.25 and last traded at $987.25. 1,179,308 shares were traded during trading, a decline of 64% from the average session volume of 3,290,523 shares. The stock had previously closed at $990.06.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Canaccord Genuity Group raised Netflix from a “hold” rating to a “buy” rating and raised their price target for the stock from $940.00 to $1,150.00 in a research report on Wednesday, January 22nd. Needham & Company LLC lifted their price objective on Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Bank of America boosted their target price on shares of Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Evercore ISI raised their price target on shares of Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Finally, Macquarie boosted their price objective on shares of Netflix from $965.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,021.70.

Netflix Stock Down 2.7 %

The stock has a market cap of $411.96 billion, a price-to-earnings ratio of 48.57, a P/E/G ratio of 2.12 and a beta of 1.27. The business has a fifty day moving average of $945.07 and a 200 day moving average of $827.46. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

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

Insider Activity

In other Netflix news, insider David A. Hyman sold 41,121 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $30,946,506.10. This represents a 56.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ann Mather sold 2,682 shares of Netflix stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $973.00, for a total transaction of $2,609,586.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 303,220 shares of company stock valued at $289,856,164. 1.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Netflix

A number of hedge funds and other institutional investors have recently bought and sold shares of NFLX. RPg Family Wealth Advisory LLC acquired a new position in shares of Netflix during the third quarter worth approximately $25,000. Pathway Financial Advisers LLC raised its position in shares of Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 14 shares during the period. Brown Shipley& Co Ltd acquired a new position in Netflix in the 4th quarter worth $27,000. Transce3nd LLC bought a new position in shares of Netflix during the 4th quarter worth approximately $32,000. Finally, E Fund Management Hong Kong Co. Ltd. grew its stake in Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after purchasing an additional 42 shares in the last quarter. 80.93% of the stock is 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.