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

Shares of Netflix, Inc. (NASDAQ:NFLX) dropped 0.3% on Monday . The stock traded as low as $951.55 and last traded at $957.69. Approximately 1,614,162 shares were traded during trading, a decline of 53% from the average daily volume of 3,470,459 shares. The stock had previously closed at $960.29.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NFLX shares. Bank of America raised their price objective on shares of Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. UBS Group reissued a “buy” rating on shares of Netflix in a research report on Monday, March 10th. Arete Research upgraded shares of Netflix to a “hold” rating in a research report on Thursday, January 23rd. Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and raised their price objective for the company from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Finally, Oppenheimer boosted their price target on shares of Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $1,016.78.

Netflix Stock Up 2.6 %

The company has a market capitalization of $426.59 billion, a PE ratio of 50.29, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The firm’s 50-day simple moving average is $965.09 and its 200 day simple moving average is $863.43. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same period in the previous year, the company earned $2.11 EPS. Netflix’s revenue for the quarter was up 16.0% on a year-over-year basis. As a group, equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 35,868 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the sale, the chairman now directly owns 114 shares in the company, valued at approximately $101,241.12. This trade represents a 99.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Strive Masiyiwa sold 2,813 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total value of $2,835,138.31. The disclosure for this sale can be found here. In the last quarter, insiders sold 288,103 shares of company stock worth $279,142,041. 1.76% of the stock is currently owned by company insiders.

Institutional Trading of Netflix

Several institutional investors have recently modified their holdings of the company. Nordea Investment Management AB boosted its holdings in shares of Netflix by 22.7% in the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after buying an additional 156,958 shares during the period. First National Trust Co boosted its position in shares of Netflix by 1.0% in the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock worth $1,121,000 after buying an additional 12 shares during the period. Haven Private LLC acquired a new position in Netflix during the fourth quarter valued at $733,000. Sigma Planning Corp grew its position in Netflix by 7.4% during the fourth quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock valued at $4,966,000 after purchasing an additional 386 shares in the last quarter. Finally, M&T Bank Corp increased its stake in shares of Netflix by 4.2% in the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after acquiring an additional 1,684 shares during 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.