Netflix (NASDAQ:NFLX) Trading Down 2.3% – Here’s What Happened

Shares of Netflix, Inc. (NASDAQ:NFLX) traded down 2.3% on Tuesday . The company traded as low as $1,027.20 and last traded at $1,034.48. 1,513,512 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 4,144,861 shares. The stock had previously closed at $1,058.60.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Oppenheimer upped their price target on shares of Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Guggenheim increased their price target on shares of Netflix from $950.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Rosenblatt Securities raised Netflix from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. The Goldman Sachs Group raised their price objective on Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Finally, UBS Group boosted their target price on Netflix from $1,040.00 to $1,150.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Netflix has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.70.

Netflix Stock Down 1.8 %

The company’s fifty day simple moving average is $936.88 and its 200-day simple moving average is $814.17. The firm has a market capitalization of $438.26 billion, a PE ratio of 51.67, a price-to-earnings-growth ratio of 2.15 and a beta of 1.27. 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 announced its earnings results 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. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same period in the previous year, the business earned $2.11 EPS. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Insiders Place Their Bets

In other Netflix news, CEO Gregory K. Peters sold 4,939 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,030.00, for a total transaction of $5,087,170.00. Following the sale, the chief executive officer now owns 12,950 shares in the company, valued at approximately $13,338,500. The trade was a 27.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jeffrey William Karbowski sold 480 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $986.75, for a total value of $473,640.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 303,220 shares of company stock valued at $289,856,164. Insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Several institutional investors and hedge funds have recently bought and sold shares of NFLX. Vanguard Group Inc. boosted its holdings in Netflix by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock valued at $33,413,809,000 after purchasing an additional 171,712 shares during the last quarter. FMR LLC lifted its holdings in shares of Netflix by 1.8% in the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock valued at $18,617,081,000 after buying an additional 375,234 shares during the period. State Street Corp boosted its stake in shares of Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after buying an additional 426,740 shares during the last quarter. Geode Capital Management LLC grew its holdings in Netflix by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock worth $8,287,823,000 after acquiring an additional 175,596 shares during the period. Finally, Jennison Associates LLC grew its holdings in Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after acquiring an additional 316,594 shares during the period. 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.