Netflix (NASDAQ:NFLX) Shares Down 1.1%

Netflix, Inc. (NASDAQ:NFLX) was down 1.1% on Thursday . The stock traded as low as $601.59 and last traded at $606.82. Approximately 1,411,850 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 4,511,907 shares. The stock had previously closed at $613.53.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NFLX shares. Barclays raised their price target on Netflix from $375.00 to $475.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Benchmark raised their target price on shares of Netflix from $350.00 to $425.00 and gave the company a “sell” rating in a research note on Friday, January 19th. Canaccord Genuity Group increased their target price on Netflix from $575.00 to $625.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Bank of America lifted their price target on shares of Netflix from $585.00 to $650.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Finally, Citigroup increased their price objective on shares of Netflix from $555.00 to $660.00 and gave the stock a “neutral” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $583.18.

Netflix Price Performance

The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.12. The firm’s 50-day moving average is $581.81 and its 200-day moving average is $487.70. The company has a market capitalization of $262.83 billion, a P/E ratio of 50.53, a price-to-earnings-growth ratio of 1.71 and a beta of 1.22.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.09). Netflix had a return on equity of 24.76% and a net margin of 16.04%. The company had revenue of $8.83 billion during the quarter, compared to analysts’ expectations of $8.72 billion. During the same quarter last year, the firm posted $0.12 EPS. Netflix’s revenue for the quarter was up 12.5% compared to the same quarter last year. Analysts predict that Netflix, Inc. will post 17.01 EPS for the current fiscal year.

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 25,998 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $470.51, for a total transaction of $12,232,318.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Gregory K. Peters sold 13,655 shares of Netflix stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $543.80, for a total transaction of $7,425,589.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $7,118,342. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Reed Hastings sold 25,998 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $470.51, for a total transaction of $12,232,318.98. The disclosure for this sale can be found here. Insiders have sold a total of 273,767 shares of company stock valued at $151,298,232 over the last 90 days. 2.45% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Netflix

A number of institutional investors have recently added to or reduced their stakes in NFLX. HighPoint Advisor Group LLC acquired a new stake in shares of Netflix during the fourth quarter worth approximately $4,860,000. Napatree Capital LLC bought a new position in shares of Netflix in the 4th quarter worth about $557,000. PNC Financial Services Group Inc. grew its stake in Netflix by 3.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 162,050 shares of the Internet television network’s stock worth $78,899,000 after buying an additional 5,450 shares during the last quarter. Grayhawk Investment Strategies Inc. acquired a new position in shares of Netflix during the fourth quarter valued at $1,078,000. Finally, Ariston Services Group bought a new stake in Netflix in the 4th quarter valued at about $411,000. Hedge funds and other 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.