Netflix (NASDAQ:NFLX) Trading Down 3.4%

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NFLX. Canaccord Genuity Group downgraded Netflix from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $720.00 to $585.00 in a research report on Friday, April 19th. BMO Capital Markets restated an “outperform” rating and issued a $713.00 price objective (up from $638.00) on shares of Netflix in a report on Wednesday, April 17th. The Goldman Sachs Group boosted their target price on shares of Netflix from $500.00 to $565.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Wedbush reiterated an “outperform” rating and issued a $725.00 price target on shares of Netflix in a research note on Friday, April 19th. Finally, StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research report on Monday, February 26th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $630.58.

Netflix Trading Down 3.9 %

The company has a quick ratio of 1.12, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $606.05 and its two-hundred day moving average is $517.65. The firm has a market capitalization of $239.20 billion, a P/E ratio of 38.36, a PEG ratio of 1.41 and a beta of 1.22.

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

Insider Buying and Selling at Netflix

In other Netflix news, Director Ann Mather sold 3,673 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total transaction of $2,203,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Netflix news, CEO Gregory K. Peters sold 5,533 shares of the company’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 sale, the chief executive officer now owns 13,090 shares in the company, valued at approximately $7,526,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ann Mather sold 3,673 shares of Netflix stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $600.00, for a total value of $2,203,800.00. The disclosure for this sale can be found here. Insiders have sold 160,106 shares of company stock valued at $92,729,716 in the last 90 days. 2.45% of the stock is currently owned by company insiders.

Institutional Trading of Netflix

Several hedge funds have recently added to or reduced their stakes in the business. Indiana Trust & Investment Management CO boosted its position in shares of Netflix by 112.0% during the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after buying an additional 28 shares during the period. VitalStone Financial LLC increased its position in shares of Netflix by 933.3% in the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after acquiring an additional 56 shares during the last quarter. Scarborough Advisors LLC bought a new position in Netflix in the fourth quarter valued at approximately $32,000. Authentikos Wealth Advisory LLC acquired a new stake in shares of Netflix in the 3rd quarter valued at approximately $25,000. Finally, Beaird Harris Wealth Management LLC grew its position in shares of Netflix by 1,550.0% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 62 shares during the period. 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.