Netflix (NASDAQ:NFLX) Stock Price Down 0.9% – Here’s What Happened

Shares of Netflix, Inc. (NASDAQ:NFLX) were down 0.9% during mid-day trading on Monday . The company traded as low as $984.69 and last traded at $993.93. Approximately 1,147,793 shares changed hands during trading, a decline of 72% from the average daily volume of 4,048,053 shares. The stock had previously closed at $1,003.15.

Wall Street Analysts Forecast Growth

NFLX has been the subject of a number of research analyst reports. Macquarie boosted their target price on Netflix from $965.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Robert W. Baird upped their target price on Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Wolfe Research raised shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 target price for the company in a research report on Thursday, January 23rd. Wedbush reaffirmed an “outperform” rating and issued a $1,150.00 price target (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Finally, Needham & Company LLC boosted their price objective on Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and an average price target of $1,021.70.

Netflix Price Performance

The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market capitalization of $426.89 billion, a PE ratio of 50.32, a price-to-earnings-growth ratio of 2.12 and a beta of 1.27. The business’s 50-day moving average price is $940.55 and its 200 day moving average price is $821.37.

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 analysts’ consensus estimates of $4.20 by $0.07. The business 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 quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.11 EPS. Research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the sale, the chairman now owns 114 shares of the company’s stock, valued at $102,212.40. The trade was a 99.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David A. Hyman sold 41,121 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $979.01, for a total value of $40,257,870.21. Following the transaction, the insider now owns 31,610 shares in the company, valued at $30,946,506.10. This trade represents a 56.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 303,220 shares of company stock valued at $289,856,164 over the last three months. 1.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Netflix

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Netflix by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock worth $33,413,809,000 after buying an additional 171,712 shares during the period. FMR LLC grew its position in Netflix by 1.8% during the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock worth $18,617,081,000 after acquiring an additional 375,234 shares during the last quarter. State Street Corp grew its position in Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after acquiring an additional 426,740 shares during the last quarter. Geode Capital Management LLC increased its stake in Netflix by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock worth $8,287,823,000 after purchasing an additional 175,596 shares during the period. Finally, Jennison Associates LLC lifted its position in Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

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.