Netflix (NASDAQ:NFLX) Trading Down 2% – Time to Sell?

Netflix, Inc. (NASDAQ:NFLX)’s share price was down 2% during mid-day trading on Friday . The company traded as low as $818.22 and last traded at $820.71. Approximately 947,416 shares traded hands during trading, a decline of 74% from the average daily volume of 3,647,076 shares. The stock had previously closed at $837.26.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wedbush upped their price objective on shares of Netflix from $725.00 to $775.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. China Renaissance initiated coverage on shares of Netflix in a report on Thursday, September 5th. They issued a “hold” rating and a $680.00 price objective for the company. Jefferies Financial Group lifted their price objective on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Oppenheimer raised their target price on Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company upped their price target on Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $748.15.

Netflix Trading Down 1.6 %

The company has a 50-day moving average price of $735.77 and a two-hundred day moving average price of $679.56. The stock has a market cap of $352.21 billion, a P/E ratio of 46.63, a P/E/G ratio of 1.60 and a beta of 1.25. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data 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, research analysts expect that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Insider Buying and Selling

In other Netflix news, insider David A. Hyman sold 13,791 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $700.00, for a total value of $9,653,700.00. Following the transaction, the insider now owns 31,610 shares of the company’s stock, valued at $22,127,000. This represents a 30.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Reed Hastings sold 45,290 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total value of $31,981,986.40. Following the completion of the sale, the chairman now owns 85 shares in the company, valued at approximately $60,023.60. The trade was a 99.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 205,084 shares of company stock valued at $146,747,101 in the last ninety days. 1.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NFLX. DigitalBridge Group Inc. grew its stake in Netflix by 35.5% in the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after acquiring an additional 9,451 shares in the last quarter. Natixis Advisors LLC boosted its holdings in shares of Netflix by 2.0% in the third quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock valued at $434,398,000 after purchasing an additional 11,921 shares during the period. Venturi Wealth Management LLC grew its stake in Netflix by 27.5% in the third quarter. Venturi Wealth Management LLC now owns 3,077 shares of the Internet television network’s stock worth $2,182,000 after purchasing an additional 664 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Netflix by 58.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock worth $55,968,000 after purchasing an additional 30,511 shares during the period. Finally, Forsta AP Fonden raised its position in Netflix by 7.7% during the 3rd quarter. Forsta AP Fonden now owns 121,400 shares of the Internet television network’s stock valued at $86,105,000 after purchasing an additional 8,700 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

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.