Netflix (NASDAQ:NFLX) Trading Down 1.3%

Netflix, Inc. (NASDAQ:NFLX)’s stock price dropped 1.3% during mid-day trading on Wednesday . The company traded as low as $617.01 and last traded at $620.80. Approximately 718,876 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 4,533,848 shares. The stock had previously closed at $629.24.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on NFLX shares. Morgan Stanley raised their price objective on Netflix from $550.00 to $600.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. BMO Capital Markets lifted their price target on shares of Netflix from $566.00 to $638.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. UBS Group increased their price objective on Netflix from $570.00 to $685.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. JPMorgan Chase & Co. boosted their target price on Netflix from $510.00 to $610.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Finally, Oppenheimer increased their price target on Netflix from $615.00 to $725.00 and gave the company an “outperform” rating in a research note on Monday, March 11th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and an average target price of $583.18.

Netflix Stock Down 1.0 %

The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $262.83 billion, a price-to-earnings ratio of 50.57, a price-to-earnings-growth ratio of 1.66 and a beta of 1.22. The business has a 50-day simple moving average of $581.81 and a 200-day simple moving average of $487.70.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 EPS for the quarter, missing the consensus estimate of $2.20 by ($0.09). Netflix had a net margin of 16.04% and a return on equity of 24.76%. The company had revenue of $8.83 billion during the quarter, compared to analysts’ expectations of $8.72 billion. During the same quarter in the prior year, the company earned $0.12 earnings per share. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, equities analysts anticipate that Netflix, Inc. will post 17.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, insider David A. Hyman sold 47,574 shares of the business’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total value of $25,591,006.08. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $17,003,651.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider David A. Hyman sold 47,574 shares of Netflix stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total value of $25,591,006.08. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $17,003,651.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 25,998 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $470.51, for a total transaction of $12,232,318.98. The disclosure for this sale can be found here. Insiders sold 273,767 shares of company stock worth $151,298,232 over the last 90 days. Corporate insiders own 2.45% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several institutional investors have recently added to or reduced their stakes in NFLX. Fairfield Bush & CO. lifted its holdings in shares of Netflix by 26.5% during the first quarter. Fairfield Bush & CO. now owns 2,446 shares of the Internet television network’s stock worth $916,000 after purchasing an additional 512 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Netflix by 21.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 480,044 shares of the Internet television network’s stock worth $179,820,000 after buying an additional 84,179 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Netflix by 14.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 2,922 shares of the Internet television network’s stock worth $1,094,000 after acquiring an additional 363 shares during the period. Candriam Luxembourg S.C.A. boosted its holdings in shares of Netflix by 6.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 36,336 shares of the Internet television network’s stock valued at $13,610,000 after acquiring an additional 2,358 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in shares of Netflix by 13.1% during the first quarter. Brown Brothers Harriman & Co. now owns 3,808 shares of the Internet television network’s stock worth $1,426,000 after acquiring an additional 441 shares during the period. Institutional investors and hedge funds 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.