Netflix (NASDAQ:NFLX) Stock Price Down 1.5% – Here’s What Happened

Shares of Netflix, Inc. (NASDAQ:NFLX) fell 1.5% during trading on Monday . The stock traded as low as $889.71 and last traded at $894.19. 676,527 shares were traded during trading, a decline of 81% from the average session volume of 3,583,892 shares. The stock had previously closed at $907.55.

Analyst Upgrades and Downgrades

NFLX has been the subject of several research analyst reports. China Renaissance started coverage on Netflix in a report on Thursday, September 5th. They issued a “hold” rating and a $680.00 price objective for the company. Morgan Stanley boosted their price target on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a report on Friday, October 18th. TD Cowen raised their price objective on Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Jefferies Financial Group lifted their price objective on shares of Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $807.70.

Netflix Stock Performance

The company’s 50-day moving average price is $858.56 and its two-hundred day moving average price is $742.68. The company has a market cap of $381.00 billion, a P/E ratio of 50.44, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. 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 issued its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The firm had revenue of $9.82 billion during 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%. As a group, equities analysts forecast that Netflix, Inc. will post 19.78 earnings per share for the current year.

Insider Activity

In other Netflix news, CEO Gregory K. Peters sold 4,186 shares of Netflix stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $750.00, for a total transaction of $3,139,500.00. Following the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $9,817,500. The trade was a 24.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Leslie J. Kilgore sold 383 shares of the stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the sale, the director now owns 35,262 shares of the company’s stock, valued at $25,741,260. The trade was a 1.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 114,893 shares of company stock valued at $93,859,830 over the last three months. Insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. State Street Corp grew its stake in Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after acquiring an additional 426,740 shares in the last quarter. Geode Capital Management LLC grew its position in Netflix by 1.4% during the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after purchasing an additional 123,029 shares in the last quarter. Jennison Associates LLC grew its position in Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares in the last quarter. International Assets Investment Management LLC lifted its position in Netflix by 116,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after buying an additional 5,748,200 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Netflix by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after buying an additional 23,702 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

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.