Netflix (NASDAQ:NFLX) Stock Price Down 2.6% – What’s Next?

Netflix, Inc. (NASDAQ:NFLX) dropped 2.6% during mid-day trading on Friday . The stock traded as low as $894.50 and last traded at $900.46. Approximately 1,010,528 shares changed hands during trading, a decline of 72% from the average daily volume of 3,586,696 shares. The stock had previously closed at $924.14.

Analyst Ratings Changes

A number of analysts have commented on NFLX shares. Benchmark reaffirmed a “sell” rating and set a $545.00 price objective on shares of Netflix in a research note on Tuesday, October 15th. Needham & Company LLC lifted their target price on Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Jefferies Financial Group increased their price target on shares of Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Rosenblatt Securities boosted their price objective on shares of Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Evercore ISI increased their target price on shares of Netflix from $775.00 to $950.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and a consensus price target of $807.70.

Netflix Trading Down 2.4 %

The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market capitalization of $385.66 billion, a price-to-earnings ratio of 51.06, a PEG ratio of 1.77 and a beta of 1.27. The company’s 50 day moving average is $850.58 and its 200 day moving average is $736.30.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating the consensus estimate of $5.09 by $0.31. The business 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%. On average, research analysts forecast that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Insider Transactions at Netflix

In other news, Director Leslie J. Kilgore sold 383 shares of the business’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $730.00, for a total transaction of $279,590.00. Following the completion of the sale, the director now owns 35,262 shares in the company, valued at $25,741,260. The trade was a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Reed Hastings sold 45,290 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total value of $31,981,986.40. Following the transaction, the chairman now directly owns 85 shares in the company, valued at $60,023.60. This trade represents a 99.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 160,183 shares of company stock worth $125,841,817. Insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Denver PWM LLC bought a new position in Netflix in the second quarter valued at approximately $25,000. RPg Family Wealth Advisory LLC bought a new position in shares of Netflix in the 3rd quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares during the period. MidAtlantic Capital Management Inc. bought a new stake in Netflix in the third quarter valued at about $37,000. Finally, FSA Wealth Management LLC acquired a new position in Netflix in the third quarter valued at about $38,000. 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.