Netflix (NASDAQ:NFLX) Trading Down 0.2% – Here’s What Happened

by · The Cerbat Gem

Netflix, Inc. (NASDAQ:NFLX – Get Free Report) traded down 0.2% during mid-day trading on Thursday . The company traded as low as $723.29 and last traded at $725.88. 654,189 shares were traded during mid-day trading, a decline of 82% from the average session volume of 3,645,896 shares. The stock had previously closed at $727.43.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th. KeyCorp upped their price objective on Netflix from $735.00 to $760.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Morgan Stanley raised their target price on Netflix from $780.00 to $820.00 and gave the company an “overweight” rating in a research note on Thursday. Evercore ISI upped their price target on shares of Netflix from $710.00 to $750.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 27th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $750.00 price objective on shares of Netflix in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average target price of $697.35.

Check Out Our Latest Research Report on NFLX

Netflix Price Performance

The stock has a 50 day moving average of $682.31 and a two-hundred day moving average of $649.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market cap of $315.60 billion, a PE ratio of 50.37, a PEG ratio of 1.44 and a beta of 1.26.

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

Insider Transactions at Netflix

In other news, Chairman Reed Hastings sold 25,599 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $631.43, for a total value of $16,163,976.57. Following the completion of the sale, the chairman now directly owns 57 shares of the company’s stock, valued at $35,991.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Reed Hastings sold 25,599 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $631.43, for a total value of $16,163,976.57. Following the transaction, the chairman now directly owns 57 shares of the company’s stock, valued at approximately $35,991.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gregory K. Peters sold 1,278 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total value of $785,254.32. Following the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,043,019.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 224,784 shares of company stock valued at $150,212,870 over the last quarter. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several large investors have recently made changes to their positions in the company. Denver PWM LLC bought a new stake in Netflix in the second quarter worth approximately $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 buying an additional 20 shares during the last quarter. Beaird Harris Wealth Management LLC raised its holdings in Netflix by 1,550.0% during the fourth 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 in the last quarter. Scarborough Advisors LLC bought a new position in Netflix during the fourth quarter valued at about $32,000. Finally, Indiana Trust & Investment Management CO lifted its position in shares of Netflix by 112.0% in 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 last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix Company Profile

(Get Free Report)

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.

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