Netflix (NASDAQ:NFLX) Stock Price Down 0.6% – Here’s What Happened

Shares of Netflix, Inc. (NASDAQ:NFLX) fell 0.6% during trading on Monday . The company traded as low as $1,171.71 and last traded at $1,184.04. 1,232,510 shares were traded during mid-day trading, a decline of 67% from the average session volume of 3,754,975 shares. The stock had previously closed at $1,191.53.

Analyst Ratings Changes

NFLX has been the topic of a number of analyst reports. Canaccord Genuity Group increased their price objective on shares of Netflix from $1,200.00 to $1,380.00 and gave the stock a “buy” rating in a research note on Friday. Robert W. Baird upped their price target on shares of Netflix from $1,200.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Friday. Citigroup reiterated a “neutral” rating on shares of Netflix in a research report on Monday, May 5th. Wedbush restated an “outperform” rating and set a $1,200.00 price objective on shares of Netflix in a research report on Monday, May 5th. Finally, Bank of America upped their target price on Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Eleven research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,102.79.

Netflix Price Performance

The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The business’s 50-day simple moving average is $1,009.34 and its two-hundred day simple moving average is $948.26. The firm has a market cap of $507.13 billion, a price-to-earnings ratio of 60.09, a P/E/G ratio of 2.12 and a beta of 1.58.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. The business had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same quarter last year, the firm earned $8.28 earnings per share. As a group, research analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Activity

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $982.05, for a total transaction of $2,554,312.05. Following the transaction, the chief financial officer now directly owns 3,691 shares in the company, valued at approximately $3,624,746.55. This represents a 41.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jeffrey William Karbowski sold 160 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $1,000.00, for a total transaction of $160,000.00. The disclosure for this sale can be found here. Insiders have sold 132,868 shares of company stock valued at $138,483,256 in the last ninety days. 1.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NFLX. Fullcircle Wealth LLC grew its stake in shares of Netflix by 2.5% in the 1st quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network’s stock valued at $344,000 after buying an additional 9 shares during the period. Capital Analysts LLC boosted its holdings in Netflix by 0.3% in the first quarter. Capital Analysts LLC now owns 2,620 shares of the Internet television network’s stock worth $2,443,000 after acquiring an additional 9 shares in the last quarter. Enterprise Financial Services Corp grew its stake in Netflix by 1.8% in the first quarter. Enterprise Financial Services Corp now owns 505 shares of the Internet television network’s stock valued at $471,000 after acquiring an additional 9 shares during the period. West Michigan Advisors LLC raised its position in shares of Netflix by 1.3% during the fourth quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock worth $692,000 after purchasing an additional 10 shares during the period. Finally, Warwick Investment Management Inc. raised its position in shares of Netflix by 3.5% during the fourth quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network’s stock worth $266,000 after purchasing an additional 10 shares during the period. 80.93% of the stock is owned by 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.