Netflix (NASDAQ:NFLX) Stock Price Down 0.5% – Here’s Why

Netflix, Inc. (NASDAQ:NFLX)’s share price dropped 0.5% during mid-day trading on Monday . The company traded as low as $757.50 and last traded at $759.97. Approximately 1,805,547 shares traded hands during trading, a decline of 51% from the average daily volume of 3,713,984 shares. The stock had previously closed at $763.89.

Wall Street Analyst Weigh In

NFLX has been the subject of a number of recent analyst reports. Guggenheim upped their target price on Netflix from $735.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Sanford C. Bernstein upped their price target on Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a report on Friday. Needham & Company LLC upped their price target on Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a report on Friday. KeyCorp upped their price target on Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Macquarie reiterated an “outperform” rating and set a $795.00 price target on shares of Netflix in a report on Friday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $747.70.

Netflix Stock Performance

The firm has a fifty day moving average of $696.38 and a 200-day moving average of $655.12. The firm has a market cap of $331.59 billion, a P/E ratio of 52.74, a PEG ratio of 1.49 and a beta of 1.26. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.74 by $0.14. The business had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.29 earnings per share. Research analysts predict that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In other Netflix news, Director Leslie J. Kilgore sold 383 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $730.00, for a total value of $279,590.00. Following the transaction, the director now owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Netflix news, Director Leslie J. Kilgore sold 383 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $730.00, for a total value of $279,590.00. Following the transaction, the director now owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gregory K. Peters sold 1,278 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total value of $785,254.32. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,043,019.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 225,167 shares of company stock valued at $150,492,460. 1.76% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Netflix

A number of hedge funds have recently modified their holdings of NFLX. GQG Partners LLC acquired a new stake in shares of Netflix during the first quarter worth about $1,450,476,000. Jennison Associates LLC raised its position in shares of Netflix by 17.0% during the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after purchasing an additional 929,193 shares during the period. Jericho Capital Asset Management L.P. acquired a new stake in shares of Netflix during the first quarter worth about $372,293,000. Swedbank AB acquired a new stake in shares of Netflix during the first quarter worth about $216,538,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Netflix during the second quarter worth about $183,365,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

About Netflix

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.