Netflix (NASDAQ:NFLX) Shares Down 0.6%

Netflix, Inc. (NASDAQ:NFLX - Get Free Report)'s share price dropped 0.6% during mid-day trading on Wednesday . The stock traded as low as $544.25 and last traded at $547.51. Approximately 1,061,309 shares changed hands during trading, a decline of 76% from the average daily volume of 4,437,035 shares. The stock had previously closed at $550.64.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Benchmark reissued a "sell" rating and set a $440.00 target price on shares of Netflix in a report on Thursday, April 18th. Citigroup boosted their target price on shares of Netflix from $555.00 to $660.00 and gave the stock a "neutral" rating in a report on Monday, March 25th. Loop Capital boosted their target price on shares of Netflix from $585.00 to $700.00 and gave the stock a "buy" rating in a report on Monday, March 18th. TD Cowen boosted their target price on shares of Netflix from $600.00 to $725.00 and gave the stock a "buy" rating in a report on Monday, April 8th. Finally, Wells Fargo & Company boosted their target price on shares of Netflix from $650.00 to $726.00 and gave the stock an "overweight" rating in a report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $630.58.

Netflix Stock Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07. The company's fifty day simple moving average is $603.12 and its two-hundred day simple moving average is $524.53. The stock has a market cap of $237.73 billion, a price-to-earnings ratio of 38.29, a P/E/G ratio of 1.37 and a beta of 1.22.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The firm had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. During the same quarter in the prior year, the company posted $2.88 earnings per share. The business's revenue was up 14.8% on a year-over-year basis. On average, analysts forecast that Netflix, Inc. will post 18.13 earnings per share for the current year.

Insider Transactions at Netflix

In other news, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the sale, the chairman now owns 28 shares in the company, valued at $17,091.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the sale, the chairman now owns 28 shares in the company, valued at $17,091.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ann Mather sold 3,673 shares of the firm's stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $600.00, for a total transaction of $2,203,800.00. The disclosure for this sale can be found here. Insiders sold a total of 154,573 shares of company stock worth $89,548,241 in the last quarter. 1.76% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Netflix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital World Investors boosted its position in shares of Netflix by 0.7% in the fourth quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network's stock valued at $5,718,265,000 after acquiring an additional 78,320 shares during the period. Jennison Associates LLC boosted its position in shares of Netflix by 40.6% in the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network's stock valued at $2,654,602,000 after acquiring an additional 1,573,978 shares during the period. Norges Bank bought a new position in shares of Netflix in the fourth quarter valued at approximately $2,558,598,000. Northern Trust Corp lifted its position in Netflix by 2.1% during the third quarter. Northern Trust Corp now owns 4,633,770 shares of the Internet television network's stock valued at $1,749,712,000 after purchasing an additional 96,938 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in Netflix by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 4,121,104 shares of the Internet television network's stock valued at $2,006,483,000 after purchasing an additional 78,298 shares during the last quarter. Institutional investors own 80.93% of the company's stock.

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.