Netflix (NASDAQ:NFLX) Shares Down 0.8%

Shares of Netflix, Inc. (NASDAQ:NFLX) fell 0.8% on Tuesday . The stock traded as low as $702.37 and last traded at $703.37. 899,650 shares changed hands during trading, a decline of 76% from the average session volume of 3,688,726 shares. The stock had previously closed at $709.27.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NFLX. JPMorgan Chase & Co. increased their price objective on Netflix from $650.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, July 12th. Bank of America lifted their price objective on shares of Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a report on Monday, July 15th. Guggenheim increased their target price on shares of Netflix from $700.00 to $735.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. China Renaissance started coverage on shares of Netflix in a research note on Thursday, September 5th. They issued a “hold” rating and a $680.00 price target on the stock. Finally, Piper Sandler boosted their price target on shares of Netflix from $600.00 to $650.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $686.03.

Netflix Trading Up 0.0 %

The business’s 50 day simple moving average is $670.86 and its two-hundred day simple moving average is $645.58. The stock has a market cap of $305.73 billion, a P/E ratio of 48.81, a PEG ratio of 1.44 and a beta of 1.26. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. The business had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. Netflix’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.29 EPS. As a group, analysts expect that Netflix, Inc. will post 19.08 EPS for the current year.

Insider Activity

In related news, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $19,128,159.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Netflix news, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David A. Hyman sold 13,791 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total value of $9,653,700.00. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at approximately $22,127,000. The disclosure for this sale can be found here. Insiders sold 179,494 shares of company stock valued at $118,230,884 over the last quarter. 1.76% of the stock is owned by company insiders.

Institutional Trading of Netflix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NFLX. Wellington Management Group LLP boosted its stake in shares of Netflix by 540.9% in the 4th quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock valued at $1,888,503,000 after purchasing an additional 3,273,592 shares during the last quarter. GQG Partners LLC acquired a new stake in Netflix during the 1st quarter worth about $1,450,476,000. Jennison Associates LLC raised its position in shares of Netflix by 17.0% in the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after acquiring an additional 929,193 shares in the last quarter. Global Assets Advisory LLC bought a new stake in shares of Netflix during the 1st quarter valued at about $436,514,000. Finally, Jericho Capital Asset Management L.P. bought a new stake in shares of Netflix during the 1st quarter valued at about $372,293,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

About Netflix

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.