Netflix (NASDAQ:NFLX) Stock Price Down 0.8% – Here’s What Happened

Netflix, Inc. (NASDAQ:NFLX) shares were down 0.8% during mid-day trading on Monday . The company traded as low as $899.10 and last traded at $902.22. Approximately 469,946 shares changed hands during trading, a decline of 87% from the average daily volume of 3,599,713 shares. The stock had previously closed at $909.05.

Analysts Set New Price Targets

NFLX has been the subject of a number of recent analyst reports. The Goldman Sachs Group set a $750.00 price target on shares of Netflix in a report on Friday, October 18th. Benchmark reaffirmed a “sell” rating and issued a $545.00 target price on shares of Netflix in a research report on Tuesday, October 15th. Sanford C. Bernstein boosted their target price on shares of Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Wedbush reiterated an “outperform” rating and set a $950.00 price target (up previously from $800.00) on shares of Netflix in a research report on Monday, November 18th. Finally, StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a report on Saturday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $807.70.

Netflix Stock Performance

The firm has a 50-day simple moving average of $841.25 and a two-hundred day simple moving average of $733.60. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $398.44 billion, a price-to-earnings ratio of 52.75, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The firm had revenue of $9.82 billion for the quarter, compared to the consensus estimate 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 forecast that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Insider Activity

In other news, Chairman Reed Hastings sold 48,363 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the transaction, the chairman now owns 114 shares of the company’s stock, valued at approximately $102,212.40. This represents a 99.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Timothy M. Haley sold 11,090 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total value of $8,405,776.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 160,183 shares of company stock worth $125,841,817. 1.76% of the stock is owned by corporate insiders.

Institutional Trading of Netflix

Large investors have recently modified their holdings of the company. Denver PWM LLC bought a new stake in Netflix during the second quarter valued at about $25,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Netflix during the 3rd quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Netflix by 700.0% during the 3rd 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 last quarter. MidAtlantic Capital Management Inc. bought a new stake in Netflix during the 3rd quarter valued at approximately $37,000. Finally, FSA Wealth Management LLC acquired a new stake in Netflix in the 3rd quarter valued at approximately $38,000. 80.93% of the stock is owned by institutional investors.

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.