Netflix (NASDAQ:NFLX) Trading Down 3.4%

Netflix, Inc. (NASDAQ:NFLX)’s stock price traded down 3.4% during mid-day trading on Wednesday . The company traded as low as $557.20 and last traded at $558.28. 1,785,890 shares were traded during mid-day trading, a decline of 60% from the average session volume of 4,480,895 shares. The stock had previously closed at $577.75.

Analysts Set New Price Targets

NFLX has been the topic of a number of research analyst reports. KeyCorp boosted their target price on shares of Netflix from $580.00 to $705.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Benchmark reissued a “sell” rating and set a $440.00 price objective on shares of Netflix in a report on Thursday, April 18th. Piper Sandler increased their price target on Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Morgan Stanley upped their price objective on shares of Netflix from $600.00 to $700.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Finally, UBS Group increased their target price on Netflix from $570.00 to $685.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $630.58.

Netflix Stock Down 3.9 %

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.12. The company has a 50-day simple moving average of $606.05 and a 200-day simple moving average of $517.65. The firm has a market cap of $239.20 billion, a PE ratio of 38.36, a price-to-earnings-growth ratio of 1.41 and a beta of 1.22.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. During the same period last year, the company posted $2.88 earnings per share. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. Analysts expect that Netflix, Inc. will post 17.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Reed Hastings sold 20,566 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the sale, the chairman now owns 28 shares in the company, valued at $17,091.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Gregory K. Peters sold 5,533 shares of the business’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $575.00, for a total transaction of $3,181,475.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $7,526,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Reed Hastings sold 20,566 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the sale, the chairman now owns 28 shares in the company, valued at approximately $17,091.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 160,106 shares of company stock valued at $92,729,716. 2.45% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Netflix

A number of institutional investors have recently added to or reduced their stakes in the stock. Douglas Lane & Associates LLC raised its holdings in Netflix by 12.5% in the 3rd quarter. Douglas Lane & Associates LLC now owns 559 shares of the Internet television network’s stock valued at $211,000 after acquiring an additional 62 shares during the last quarter. Capital Investment Advisors LLC grew its holdings in Netflix by 5.2% during the 3rd quarter. Capital Investment Advisors LLC now owns 1,284 shares of the Internet television network’s stock worth $485,000 after acquiring an additional 63 shares in the last quarter. DAVENPORT & Co LLC increased its position in shares of Netflix by 21.2% in the 3rd quarter. DAVENPORT & Co LLC now owns 7,129 shares of the Internet television network’s stock valued at $2,692,000 after purchasing an additional 1,247 shares during the last quarter. Park Place Capital Corp lifted its position in shares of Netflix by 15.9% during the 3rd quarter. Park Place Capital Corp now owns 1,733 shares of the Internet television network’s stock worth $654,000 after purchasing an additional 238 shares during the last quarter. Finally, Founders Financial Securities LLC grew its stake in shares of Netflix by 18.7% during the third quarter. Founders Financial Securities LLC now owns 2,224 shares of the Internet television network’s stock worth $840,000 after purchasing an additional 351 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.