Netflix (NASDAQ:NFLX) Stock Price Down 1.2%

Netflix, Inc. (NASDAQ:NFLX) shares traded down 1.2% during trading on Wednesday . The stock traded as low as $641.18 and last traded at $642.60. 598,565 shares were traded during trading, a decline of 86% from the average session volume of 4,255,499 shares. The stock had previously closed at $650.61.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NFLX shares. Canaccord Genuity Group cut Netflix from a “buy” rating to a “hold” rating and reduced their target price for the stock from $720.00 to $585.00 in a report on Friday, April 19th. Wells Fargo & Company increased their target price on Netflix from $650.00 to $726.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Jefferies Financial Group restated a “buy” rating and issued a $655.00 price target on shares of Netflix in a research report on Wednesday, May 15th. Piper Sandler upped their price objective on Netflix from $550.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Finally, StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $630.53.

Netflix Stock Up 1.8 %

The business’s 50 day moving average price is $606.78 and its 200 day moving average price is $547.45. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $278.96 billion, a price-to-earnings ratio of 44.92, a PEG ratio of 1.38 and a beta of 1.23.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.77. The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.88 EPS. On average, equities analysts forecast that Netflix, Inc. will post 18.31 EPS for the current year.

Insider Activity at Netflix

In other news, Director Ann Mather sold 3,673 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $600.00, for a total value of $2,203,800.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Netflix news, Director Ann Mather sold 3,673 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $600.00, for a total value of $2,203,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Hyman sold 268 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $593.62, for a total transaction of $159,090.16. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $18,764,328.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,039 shares of company stock valued at $46,401,083. 1.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. WealthPlan Investment Management LLC boosted its position in Netflix by 98.5% in the 3rd quarter. WealthPlan Investment Management LLC now owns 897 shares of the Internet television network’s stock valued at $339,000 after buying an additional 445 shares during the period. Corient Private Wealth LLC increased its stake in shares of Netflix by 12.5% during the third quarter. Corient Private Wealth LLC now owns 140,007 shares of the Internet television network’s stock worth $52,866,000 after buying an additional 15,611 shares during the period. NBC Securities Inc. acquired a new stake in Netflix in the third quarter valued at approximately $1,436,000. Diligent Investors LLC lifted its stake in Netflix by 5.7% in the third quarter. Diligent Investors LLC now owns 1,476 shares of the Internet television network’s stock worth $557,000 after acquiring an additional 80 shares during the last quarter. Finally, Forum Financial Management LP grew its holdings in Netflix by 17.5% during the 3rd quarter. Forum Financial Management LP now owns 3,359 shares of the Internet television network’s stock worth $1,268,000 after acquiring an additional 501 shares in 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.