Netflix (NASDAQ:NFLX) Trading Down 1.3% After Insider Selling

Shares of Netflix, Inc. (NASDAQ:NFLX) dropped 1.3% on Wednesday after an insider sold shares in the company. The stock traded as low as $973.74 and last traded at $983.92. Approximately 1,371,516 shares were traded during trading, a decline of 61% from the average daily volume of 3,478,515 shares. The stock had previously closed at $997.28.

Specifically, CAO Jeffrey William Karbowski sold 480 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $978.18, for a total transaction of $469,526.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Analysts Set New Price Targets

NFLX has been the topic of several recent research reports. Macquarie lifted 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. StockNews.com cut Netflix from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Loop Capital restated a “hold” rating on shares of Netflix in a research report on Monday. Sanford C. Bernstein upgraded Netflix from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $975.00 to $1,200.00 in a research report on Friday, January 24th. Finally, Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and upped their price target for the stock from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.02.

Netflix Trading Down 4.4 %

The company’s fifty day moving average is $970.22 and its 200-day moving average is $864.96. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $399.46 billion, a P/E ratio of 47.09, a P/E/G ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating 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 company had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same period last year, the business posted $2.11 earnings per share. The firm’s revenue was up 16.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Netflix

Several hedge funds have recently modified their holdings of NFLX. RPg Family Wealth Advisory LLC bought a new stake in Netflix in the 3rd quarter valued at $25,000. Pathway Financial Advisers LLC lifted its stake in shares of Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after buying an additional 14 shares during the period. Brown Shipley& Co Ltd acquired a new stake in Netflix during the fourth quarter worth about $27,000. Transce3nd LLC bought a new position in Netflix during the fourth quarter valued at about $32,000. Finally, Newton One Investments LLC acquired a new position in Netflix in the 4th quarter valued at approximately $34,000. 80.93% of the stock is owned by institutional investors.

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.