Netflix (NASDAQ:NFLX) Stock Price Down 1.3% – Here’s What Happened

Netflix, Inc. (NASDAQ:NFLX) traded down 1.3% during trading on Wednesday . The stock traded as low as $973.74 and last traded at $983.92. 1,371,516 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 3,478,515 shares. The stock had previously closed at $997.28.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Needham & Company LLC increased their price objective on shares of Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Barclays raised shares of Netflix from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $715.00 to $900.00 in a research note on Wednesday, January 22nd. Oppenheimer boosted their price objective on Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Canaccord Genuity Group raised Netflix from a “hold” rating to a “buy” rating and increased their target price for the company from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. Finally, StockNews.com lowered Netflix from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,016.78.

Netflix Stock Down 2.2 %

The stock has a market cap of $417.09 billion, a price-to-earnings ratio of 49.26, a PEG ratio of 2.12 and a beta of 1.38. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The business’s fifty day moving average is $965.09 and its two-hundred day moving average is $863.43.

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

Insider Buying and Selling at Netflix

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $982.05, for a total value of $2,554,312.05. Following the transaction, the chief financial officer now owns 3,691 shares of the company’s stock, valued at $3,624,746.55. This represents a 41.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Strive Masiyiwa sold 2,813 shares of Netflix stock in a transaction dated 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. Insiders have sold 288,103 shares of company stock valued at $279,142,041 in the last quarter. Corporate insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several institutional investors have recently added to or reduced their stakes in NFLX. Nordea Investment Management AB lifted its holdings in shares of Netflix by 22.7% in the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after purchasing an additional 156,958 shares during the last quarter. First National Trust Co increased its stake in Netflix by 1.0% in the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock valued at $1,121,000 after purchasing an additional 12 shares during the period. Haven Private LLC purchased a new stake in shares of Netflix in the fourth quarter valued at about $733,000. Sigma Planning Corp boosted its stake in shares of Netflix by 7.4% during the fourth quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock worth $4,966,000 after buying an additional 386 shares during the period. Finally, M&T Bank Corp grew its holdings in shares of Netflix by 4.2% during the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after buying an additional 1,684 shares during the last quarter. Hedge funds and other institutional investors 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.