Netflix (NASDAQ:NFLX) Trading Down 1.2%

Netflix, Inc. (NASDAQ:NFLX)’s share price dropped 1.2% during trading on Wednesday . The company traded as low as $694.50 and last traded at $698.15. Approximately 632,584 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 3,721,037 shares. The stock had previously closed at $706.91.

Analyst Ratings Changes

NFLX has been the topic of a number of analyst reports. Pivotal Research lifted their price objective on shares of Netflix from $800.00 to $900.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Morgan Stanley increased their price objective on Netflix from $700.00 to $780.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Rosenblatt Securities upped their target price on Netflix from $554.00 to $635.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Loop Capital boosted their price target on Netflix from $700.00 to $750.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $700.00 target price on shares of Netflix in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $685.29.

Netflix Stock Performance

The stock has a 50 day simple moving average of $660.64 and a two-hundred day simple moving average of $639.15. The company has a market capitalization of $298.39 billion, a price-to-earnings ratio of 48.45, a PEG ratio of 1.40 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95.

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

Insider Buying and Selling at Netflix

In other news, CFO Spencer Adam Neumann sold 433 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total transaction of $271,140.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $626.19, for a total transaction of $271,140.27. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 196,798 shares of company stock valued at $129,552,672. 1.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Netflix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Denver PWM LLC acquired a new stake in Netflix during the 2nd quarter valued at $25,000. Valued Wealth Advisors LLC increased its position in Netflix by 80.0% during the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 20 shares during the last quarter. VitalStone Financial LLC raised its stake in Netflix by 933.3% during the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after purchasing an additional 56 shares during the period. Beaird Harris Wealth Management LLC grew its stake in shares of Netflix by 1,550.0% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after buying an additional 62 shares during the period. Finally, Scarborough Advisors LLC acquired a new stake in shares of Netflix during the 4th quarter worth $32,000. 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.