Netflix (NASDAQ:NFLX) Trading Down 0.7% on Analyst Downgrade

Netflix, Inc. (NASDAQ:NFLX - Get Free Report)'s stock price dropped 0.7% on Monday after Canaccord Genuity Group downgraded the stock from a buy rating to a hold rating. Canaccord Genuity Group now has a $585.00 price target on the stock, down from their previous price target of $720.00. Netflix traded as low as $542.01 and last traded at $551.09. Approximately 3,492,896 shares traded hands during trading, a decline of 21% from the average daily volume of 4,439,449 shares. The stock had previously closed at $555.04.

A number of other analysts also recently weighed in on NFLX. StockNews.com upgraded Netflix from a "hold" rating to a "buy" rating in a research report on Monday, February 26th. Benchmark reissued a "sell" rating and set a $440.00 price target on shares of Netflix in a report on Thursday. Evercore ISI boosted their price target on Netflix from $600.00 to $640.00 and gave the stock an "outperform" rating in a report on Thursday, March 14th. Bank of America upped their target price on Netflix from $585.00 to $650.00 and gave the stock a "buy" rating in a report on Wednesday, January 24th. Finally, Sanford C. Bernstein upped their target price on Netflix from $490.00 to $600.00 and gave the stock a "market perform" rating in a report on Friday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $630.58.

Insider Transactions at Netflix

In other news, insider David A. Hyman sold 267 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total value of $148,454.67. Following the completion of the sale, the insider now directly owns 31,610 shares of the company's stock, valued at $17,575,476.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Jay C. Hoag sold 47,000 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $550.50, for a total transaction of $25,873,500.00. Following the completion of the sale, the director now directly owns 431,034 shares of the company's stock, valued at $237,284,217. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David A. Hyman sold 267 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total value of $148,454.67. Following the sale, the insider now directly owns 31,610 shares of the company's stock, valued at $17,575,476.10. The disclosure for this sale can be found here. Insiders sold a total of 268,335 shares of company stock valued at $151,619,811 over the last ninety days. 2.45% of the stock is currently owned by insiders.

Institutional Trading of Netflix

A number of institutional investors and hedge funds have recently modified their holdings of the business. KFA Private Wealth Group LLC increased its holdings in shares of Netflix by 1.9% in the fourth quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network's stock worth $466,000 after buying an additional 18 shares during the period. Legacy Capital Group California Inc. increased its holdings in Netflix by 0.6% during the 4th quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network's stock valued at $1,379,000 after purchasing an additional 18 shares during the period. Founders Financial Alliance LLC increased its holdings in Netflix by 2.4% during the 4th quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network's stock valued at $369,000 after purchasing an additional 18 shares during the period. Capital Advisors Ltd. LLC increased its holdings in Netflix by 4.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 411 shares of the Internet television network's stock valued at $250,000 after purchasing an additional 18 shares during the period. Finally, Addison Advisors LLC increased its holdings in Netflix by 7.8% during the 4th quarter. Addison Advisors LLC now owns 276 shares of the Internet television network's stock valued at $134,000 after purchasing an additional 20 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Performance

The company has a market cap of $238.98 billion, a PE ratio of 38.24, a P/E/G ratio of 1.49 and a beta of 1.22. The company has a current ratio of 1.07, a quick ratio of 1.12 and a debt-to-equity ratio of 0.62. The business has a fifty day moving average of $605.65 and a 200-day moving average of $514.99.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. During the same quarter in the previous year, the business earned $2.88 EPS. Netflix's revenue was up 14.8% compared to the same quarter last year. Equities research analysts anticipate that Netflix, Inc. will post 17.13 earnings per share 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.