Netflix (NASDAQ:NFLX) Stock Price Down 0% Following Analyst Downgrade

Netflix, Inc. (NASDAQ:NFLX)’s stock price traded down 0% during mid-day trading on Wednesday after UBS Group lowered their price target on the stock from $1,150.00 to $1,140.00. UBS Group currently has a buy rating on the stock. Netflix traded as low as $961.00 and last traded at $975.87. 1,872,163 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 3,703,480 shares. The stock had previously closed at $976.28.

NFLX has been the subject of a number of other research reports. StockNews.com cut Netflix from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Loop Capital reissued a “hold” rating on shares of Netflix in a research note on Monday, March 24th. Wedbush restated an “outperform” rating and set a $1,150.00 price objective on shares of Netflix in a research report on Friday, April 11th. Seaport Res Ptn raised shares of Netflix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Netflix from $1,150.00 to $1,025.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Ten research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Netflix presently has an average rating of “Moderate Buy” and a consensus target price of $1,021.31.

Insider Buying and Selling

In related news, Director Ann Mather sold 2,682 shares of Netflix stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $973.00, for a total value of $2,609,586.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Strive Masiyiwa sold 2,813 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $1,007.87, for a total value of $2,835,138.31. The disclosure for this sale can be found here. Over the last quarter, insiders sold 274,312 shares of company stock worth $267,919,297. Insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its stake in shares of Netflix by 109,524.3% in the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock worth $8,239,576,000 after purchasing an additional 8,827,662 shares in the last quarter. Norges Bank acquired a new position in Netflix during the 4th quarter valued at about $5,019,087,000. Proficio Capital Partners LLC boosted its holdings in shares of Netflix by 123,836.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock valued at $1,716,662,000 after acquiring an additional 1,924,423 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Netflix by 59.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock worth $2,051,016,000 after purchasing an additional 856,307 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Netflix by 318.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock valued at $870,752,000 after buying an additional 743,724 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Netflix Price Performance

The company has a 50 day moving average of $957.71 and a two-hundred day moving average of $887.65. The firm has a market cap of $417.54 billion, a P/E ratio of 49.21, a PEG ratio of 2.12 and a beta of 1.55. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.20 by $0.07. The company had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.11 EPS. Sell-side analysts expect that Netflix, Inc. will post 24.58 EPS for the current 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.