Netflix (NASDAQ:NFLX) Stock Price Down 0.7% – Should You Sell?

Netflix, Inc. (NASDAQ:NFLX)’s stock price was down 0.7% during mid-day trading on Wednesday . The company traded as low as $863.58 and last traded at $866.42. Approximately 503,696 shares traded hands during trading, a decline of 86% from the average daily volume of 3,659,233 shares. The stock had previously closed at $872.60.

Wall Street Analysts Forecast Growth

Several research analysts have commented on NFLX shares. Deutsche Bank Aktiengesellschaft raised their target price on Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. KeyCorp raised their price objective on shares of Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a research note on Friday, October 18th. Needham & Company LLC increased their target price on shares of Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Morgan Stanley boosted their price target on shares of Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and a consensus price target of $764.82.

Netflix Trading Up 0.5 %

The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm’s fifty day moving average is $769.29 and its two-hundred day moving average is $697.66. The firm has a market cap of $375.03 billion, a P/E ratio of 49.65, a PEG ratio of 1.69 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Analysts predict that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 25,074 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total value of $17,073,388.08. Following the sale, the chairman now directly owns 85 shares of the company’s stock, valued at $57,878.20. This represents a 99.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Anne M. Sweeney sold 589 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 185,866 shares of company stock valued at $133,393,921. Corporate insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Institutional investors and hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC increased its position in Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after buying an additional 5,748,200 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Netflix by 154.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after acquiring an additional 642,920 shares during the last quarter. State Street Corp raised its position in shares of Netflix by 2.6% in 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 purchasing an additional 426,740 shares during the last quarter. Jennison Associates LLC raised its position in shares of Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after purchasing an additional 316,594 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in Netflix in the 3rd quarter worth about $222,871,000. Institutional investors 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.