Netflix (NASDAQ:NFLX) Trading Down 0.1% – Here’s Why

by · The Cerbat Gem

Netflix, Inc. (NASDAQ:NFLX – Get Free Report) fell 0.1% on Wednesday . The stock traded as low as $873.00 and last traded at $878.37. 644,420 shares traded hands during trading, a decline of 73% from the average session volume of 2,396,961 shares. The stock had previously closed at $879.19.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NFLX shares. Argus upped their price objective on Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a report on Monday. KeyCorp upped their price target on shares of Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Wedbush restated an “outperform” rating and issued a $950.00 target price (up from $800.00) on shares of Netflix in a report on Monday, November 18th. Wells Fargo & Company lifted their price target on Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, Canaccord Genuity Group upped their price objective on Netflix from $760.00 to $940.00 and gave the company a “hold” rating in a research report on Monday, December 2nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $824.30.

Get Our Latest Report on Netflix

Netflix Trading Down 0.3 %

The company has a 50 day moving average of $871.62 and a two-hundred day moving average of $749.78. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market capitalization of $374.51 billion, a PE ratio of 49.58, a P/E/G ratio of 1.77 and a beta of 1.27.

Netflix (NASDAQ:NFLX – Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.09 by $0.31. The firm had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. Sell-side analysts predict that Netflix, Inc. will post 19.78 EPS for the current year.

Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 48,363 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the transaction, the chairman now owns 114 shares in the company, valued at approximately $102,212.40. This represents a 99.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Leslie J. Kilgore sold 383 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $730.00, for a total transaction of $279,590.00. Following the transaction, the director now directly owns 35,262 shares of the company’s stock, valued at $25,741,260. This represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 150,761 shares of company stock worth $125,713,484. Company insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

A number of institutional investors have recently modified their holdings of the stock. Clifford Swan Investment Counsel LLC increased its holdings in shares of Netflix by 2.6% during the 2nd quarter. Clifford Swan Investment Counsel LLC now owns 785 shares of the Internet television network’s stock valued at $530,000 after purchasing an additional 20 shares in the last quarter. Liberty Wealth Management LLC purchased a new stake in shares of Netflix during the 2nd quarter worth about $2,633,000. LGT Group Foundation grew its position in shares of Netflix by 3,097.5% during the 2nd quarter. LGT Group Foundation now owns 7,674 shares of the Internet television network’s stock valued at $5,179,000 after acquiring an additional 7,434 shares during the period. LGT Fund Management Co Ltd. increased its stake in shares of Netflix by 39.3% in the 2nd quarter. LGT Fund Management Co Ltd. now owns 8,034 shares of the Internet television network’s stock valued at $5,422,000 after purchasing an additional 2,268 shares in the last quarter. Finally, Global X Japan Co. Ltd. increased its stake in shares of Netflix by 15.7% in the 2nd quarter. Global X Japan Co. Ltd. now owns 8,470 shares of the Internet television network’s stock valued at $5,716,000 after purchasing an additional 1,147 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Company Profile

(Get Free Report)

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.

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