Netflix (NASDAQ:NFLX) Stock Price Down 1.4% – Time to Sell?

Netflix, Inc. (NASDAQ:NFLX)’s stock price traded down 1.4% on Friday . The company traded as low as $912.38 and last traded at $912.67. 575,814 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 3,615,444 shares. The stock had previously closed at $925.55.

Analyst Upgrades and Downgrades

NFLX has been the subject of several recent analyst reports. Rosenblatt Securities boosted their price objective on shares of Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Macquarie reiterated an “outperform” rating and set a $795.00 price objective on shares of Netflix in a report on Friday, October 18th. BMO Capital Markets restated an “outperform” rating and set a $825.00 target price (up from $770.00) on shares of Netflix in a research note on Friday, October 18th. Sanford C. Bernstein increased their price target on Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Finally, Piper Sandler restated an “overweight” rating and set a $840.00 price target (up previously from $800.00) on shares of Netflix in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $787.85.

Netflix Stock Performance

The business’s 50-day simple moving average is $814.02 and its two-hundred day simple moving average is $719.83. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm has a market cap of $392.78 billion, a price-to-earnings ratio of 52.00, a P/E/G ratio of 1.80 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced its quarterly 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 firm had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. As a group, sell-side analysts expect that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In other news, Chairman Reed Hastings sold 45,290 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the completion of the sale, the chairman now owns 85 shares of the company’s stock, valued at $60,023.60. The trade was a 99.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $24,202,828.70. This represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 165,405 shares of company stock valued at $129,623,487 in the last three months. 1.76% of the stock is currently owned by company insiders.

Institutional Trading of Netflix

Several large investors have recently made changes to their positions in the company. Lord Abbett & CO. LLC boosted its stake in Netflix by 20.0% during the 3rd quarter. Lord Abbett & CO. LLC now owns 291,259 shares of the Internet television network’s stock worth $206,581,000 after purchasing an additional 48,538 shares during the last quarter. DGS Capital Management LLC boosted its position in Netflix by 5.2% during the third quarter. DGS Capital Management LLC now owns 1,931 shares of the Internet television network’s stock worth $1,370,000 after acquiring an additional 95 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new stake in Netflix during the 3rd quarter valued at about $21,594,000. American Trust acquired a new stake in Netflix in the 3rd quarter valued at about $323,000. Finally, Old North State Trust LLC lifted its stake in Netflix by 3.2% in the 3rd quarter. Old North State Trust LLC now owns 699 shares of the Internet television network’s stock worth $496,000 after purchasing an additional 22 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

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.