Netflix (NASDAQ:NFLX) Trading Down 0.8% – Here’s Why

by · The Cerbat Gem

Shares of Netflix, Inc. (NASDAQ:NFLX – Get Free Report) traded down 0.8% during mid-day trading on Monday . The stock traded as low as $1,082.62 and last traded at $1,093.10. 1,309,624 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 3,699,246 shares. The stock had previously closed at $1,101.53.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NFLX. Barclays increased their price objective on shares of Netflix from $900.00 to $1,000.00 and gave the stock an “equal weight” rating in a research report on Monday, April 21st. KeyCorp boosted their price target on Netflix from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Sanford C. Bernstein upgraded shares of Netflix from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $975.00 to $1,200.00 in a research note on Friday, January 24th. UBS Group dropped their target price on Netflix from $1,150.00 to $1,140.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Finally, Benchmark reiterated a “hold” rating on shares of Netflix in a research report on Monday, April 21st. Ten analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,072.12.

Check Out Our Latest Stock Analysis on Netflix

Netflix Price Performance

The business’s 50 day moving average is $955.92 and its two-hundred day moving average is $906.10. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a market cap of $468.49 billion, a P/E ratio of 55.62, a P/E/G ratio of 2.12 and a beta of 1.55.

Netflix (NASDAQ:NFLX – Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.74 by $0.87. The firm had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same period in the previous year, the firm earned $8.28 earnings per share. As a group, analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other Netflix news, CAO Jeffrey William Karbowski sold 480 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $986.75, for a total value of $473,640.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Strive Masiyiwa sold 2,813 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was 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. Over the last ninety days, insiders sold 273,855 shares of company stock valued at $267,474,816. Corporate insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

A number of hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its holdings in shares of Netflix by 13.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock worth $1,200,485,000 after buying an additional 198,148 shares during the last quarter. McIlrath & Eck LLC raised its position in Netflix by 13.8% in the third quarter. McIlrath & Eck LLC now owns 247 shares of the Internet television network’s stock worth $175,000 after acquiring an additional 30 shares during the period. Advisory Resource Group boosted its stake in Netflix by 0.7% in the third quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network’s stock valued at $1,238,000 after acquiring an additional 12 shares during the last quarter. Virtu Financial LLC increased its stake in shares of Netflix by 356.5% during the 3rd quarter. Virtu Financial LLC now owns 13,879 shares of the Internet television network’s stock worth $9,844,000 after purchasing an additional 10,839 shares during the last quarter. Finally, SOA Wealth Advisors LLC. raised its holdings in shares of Netflix by 1.2% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 1,515 shares of the Internet television network’s stock worth $1,075,000 after purchasing an additional 18 shares during the period. Institutional investors and hedge funds 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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