Netflix (NASDAQ:NFLX) Shares Down 1.2% on Analyst Downgrade

Shares of Netflix, Inc. (NASDAQ:NFLX) were down 1.2% during mid-day trading on Thursday after KeyCorp lowered their price target on the stock from $1,100.00 to $1,000.00. KeyCorp currently has an overweight rating on the stock. Netflix traded as low as $924.13 and last traded at $933.69. Approximately 1,213,605 shares were traded during trading, a decline of 67% from the average daily volume of 3,663,434 shares. The stock had previously closed at $945.47.

NFLX has been the subject of several other research reports. Loop Capital reissued a “hold” rating on shares of Netflix in a research note on Monday, March 24th. Barclays raised shares of Netflix from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $715.00 to $900.00 in a research note on Wednesday, January 22nd. Wolfe Research raised shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price target for the company in a report on Thursday, January 23rd. Phillip Securities lowered Netflix from a “hold” rating to a “moderate sell” rating in a research note on Friday, January 24th. Finally, Rosenblatt Securities upgraded shares of Netflix from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $680.00 to $1,494.00 in a research report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,017.31.

Insider Buying and Selling at Netflix

In other Netflix news, CEO Gregory K. Peters sold 4,939 shares of Netflix stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total transaction of $5,087,170.00. Following the transaction, the chief executive officer now owns 12,950 shares of the company’s stock, valued at $13,338,500. This trade represents a 27.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jeffrey William Karbowski sold 160 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $1,000.00, for a total value of $160,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 274,312 shares of company stock valued at $267,919,297. Company insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Pathway Financial Advisers LLC raised its position in Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 14 shares during the period. Brown Shipley& Co Ltd purchased a new stake in Netflix in the 4th quarter worth about $27,000. Transce3nd LLC bought a new stake in Netflix during the 4th quarter valued at $32,000. Newton One Investments LLC purchased a new stake in shares of Netflix during the fourth quarter worth $34,000. Finally, Pineridge Advisors LLC grew its position in shares of Netflix by 4,000.0% in the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after purchasing an additional 40 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

The business has a 50 day moving average of $962.78 and a 200-day moving average of $881.51. The company has a market capitalization of $395.70 billion, a P/E ratio of 46.89, a price-to-earnings-growth ratio of 2.12 and a beta of 1.55. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.11 earnings per share. On average, sell-side analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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.