Netflix (NASDAQ:NFLX) Shares Down 1.4% – Here’s What Happened

Shares of Netflix, Inc. (NASDAQ:NFLX) were down 1.4% during trading on Thursday . The stock traded as low as $919.15 and last traded at $919.15. Approximately 703,743 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 3,590,475 shares. The stock had previously closed at $932.12.

Analyst Upgrades and Downgrades

NFLX has been the subject of a number of research reports. UBS Group upped their target price on shares of Netflix from $825.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Rosenblatt Securities increased their price objective on shares of Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a report on Friday, October 18th. JPMorgan Chase & Co. lifted their target price on Netflix from $850.00 to $1,010.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. TD Cowen increased their price target on Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $825.00 price objective (up previously from $770.00) on shares of Netflix in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus target price of $807.70.

Netflix Stock Performance

The company has a market cap of $387.94 billion, a P/E ratio of 51.36, a P/E/G ratio of 1.77 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The business has a 50-day moving average of $853.45 and a two-hundred day moving average of $738.13.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The business had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. On average, sell-side analysts predict that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other Netflix news, Chairman Reed Hastings sold 48,363 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction 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 document filed with the SEC, which can be accessed through the SEC website. Also, Director Leslie J. Kilgore sold 383 shares of Netflix stock in a transaction 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 sale, the director now owns 35,262 shares of the company’s stock, valued at $25,741,260. The trade was a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 160,183 shares of company stock valued at $125,841,817. 1.76% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NFLX. Denver PWM LLC acquired a new position in shares of Netflix in the second quarter worth about $25,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Netflix in the third quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after acquiring an additional 42 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in Netflix during the third quarter worth about $37,000. Finally, FSA Wealth Management LLC purchased a new stake in shares of Netflix during the 3rd quarter valued at approximately $38,000. Hedge funds and other institutional investors 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.