Netflix (NASDAQ:NFLX) Stock Price Down 4.3% After Analyst Downgrade

Shares of Netflix, Inc. (NASDAQ:NFLX) dropped 4.3% on Friday after JPMorgan Chase & Co. lowered their price target on the stock from $1,010.00 to $1,000.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Netflix traded as low as $835.11 and last traded at $837.36. Approximately 1,584,633 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 2,516,036 shares. The stock had previously closed at $875.00.

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company increased their price objective on Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a research note on Saturday, December 21st. Evercore ISI lifted their price objective on shares of Netflix from $775.00 to $950.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Argus increased their target price on shares of Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Wedbush restated an “outperform” rating and set a $950.00 target price (up from $800.00) on shares of Netflix in a report on Monday, November 18th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $824.00.

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 48,363 shares of the stock in a transaction dated 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 completion of the sale, the chairman now owns 114 shares in the company, valued at $102,212.40. This trade represents a 99.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Leslie J. Kilgore sold 358 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $765.00, for a total transaction of $273,870.00. Following the completion of the transaction, the director now owns 35,262 shares in the company, valued at approximately $26,975,430. This trade represents a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 156,742 shares of company stock worth $131,030,268 in the last 90 days. 1.76% of the stock is owned by company insiders.

Institutional Investors Weigh In On Netflix

A number of large investors have recently bought and sold shares of NFLX. RPg Family Wealth Advisory LLC acquired a new position in Netflix in the third quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after buying an additional 42 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in Netflix during the 3rd quarter worth about $37,000. FSA Wealth Management LLC acquired a new position in Netflix during the 3rd quarter worth about $38,000. Finally, First Personal Financial Services bought a new stake in Netflix during the 3rd quarter worth about $40,000. 80.93% of the stock is currently owned by institutional investors.

Netflix Stock Down 4.3 %

The stock has a market cap of $358.08 billion, a price-to-earnings ratio of 47.41, a PEG ratio of 1.77 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The firm’s 50-day simple moving average is $878.06 and its two-hundred day simple moving average is $752.69.

Netflix (NASDAQ:NFLX) last issued 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. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The business had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. On average, sell-side analysts expect that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

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.