Netflix (NASDAQ:NFLX) Shares Down 1.9% – Here’s What Happened

by · The Markets Daily

Netflix, Inc. (NASDAQ:NFLX – Get Free Report) shares traded down 1.9% during mid-day trading on Thursday . The company traded as low as $1,015.59 and last traded at $1,023.25. 943,970 shares were traded during trading, a decline of 77% from the average session volume of 4,079,264 shares. The stock had previously closed at $1,043.33.

Analysts Set New Price Targets

A number of equities analysts recently commented on NFLX shares. Piper Sandler reaffirmed an “overweight” rating and issued a $1,100.00 price objective (up from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and upped their price objective for the company from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Seaport Res Ptn upgraded shares of Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Guggenheim boosted their target price on shares of Netflix from $950.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Finally, Needham & Company LLC increased their price target on Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Netflix has an average rating of “Moderate Buy” and a consensus target price of $1,021.70.

Get Our Latest Analysis on NFLX

Netflix Stock Down 2.1 %

The company has a market cap of $429.11 billion, a P/E ratio of 50.59, a price-to-earnings-growth ratio of 2.12 and a beta of 1.27. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a fifty day moving average price of $940.55 and a two-hundred day moving average price of $818.44.

Netflix (NASDAQ:NFLX – Get Free Report) last issued its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share 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 business had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. During the same period last year, the business earned $2.11 EPS. The business’s revenue was up 16.0% on a year-over-year basis. On average, research analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Buying and Selling

In related news, CAO Jeffrey William Karbowski sold 480 shares of Netflix stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $986.75, for a total transaction of $473,640.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Gregory K. Peters sold 4,939 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the completion of the transaction, the chief executive officer now directly owns 12,950 shares in the company, valued at approximately $13,338,500. This represents a 27.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 303,220 shares of company stock worth $289,856,164. 1.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Netflix

A number of hedge funds have recently made changes to their positions in NFLX. Norges Bank purchased a new position in Netflix in the fourth quarter valued at about $5,019,087,000. Proficio Capital Partners LLC grew its holdings in Netflix by 123,836.7% during the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock valued at $1,716,662,000 after purchasing an additional 1,924,423 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Netflix by 59.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock worth $2,051,016,000 after buying an additional 856,307 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Netflix by 318.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock valued at $870,752,000 after buying an additional 743,724 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Netflix by 14.3% during the 4th quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network’s stock valued at $4,076,903,000 after buying an additional 570,674 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

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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