Netflix (NASDAQ:NFLX) Shares Down 0.5% - Here's Why

Netflix, Inc. (NASDAQ:NFLX - Get Free Report) traded down 0.5% on Thursday . The stock traded as low as $1,187.64 and last traded at $1,188.61. 629,265 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 3,742,228 shares. The stock had previously closed at $1,194.63.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wells Fargo & Company increased their price objective on Netflix from $1,210.00 to $1,222.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Guggenheim reissued a "buy" rating and issued a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Canaccord Genuity Group increased their target price on Netflix from $1,200.00 to $1,380.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Piper Sandler set a $1,150.00 target price on Netflix and gave the stock an "overweight" rating in a research report on Monday, April 21st. Finally, Wolfe Research set a $1,340.00 price objective on Netflix and gave the company an "outperform" rating in a research report on Friday, May 16th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,102.79.

Netflix Stock Down 0.2%

The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average price of $1,026.35 and a 200-day moving average price of $954.65. The firm has a market capitalization of $507.30 billion, a PE ratio of 60.10, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.74 by $0.87. The business had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same period in the prior year, the business earned $8.28 earnings per share. Equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Activity

In related news, Chairman Reed Hastings sold 30,485 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $981.92, for a total value of $29,933,831.20. Following the completion of the transaction, the chairman now directly owns 394 shares in the company, valued at approximately $386,876.48. This represents a 98.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $2,554,312.05. Following the completion of the transaction, the chief financial officer now owns 3,691 shares of the company's stock, valued at $3,624,746.55. The trade was a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 132,868 shares of company stock worth $138,483,256 over the last ninety days. Corporate insiders own 1.76% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Halbert Hargrove Global Advisors LLC boosted its position in shares of Netflix by 100.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after buying an additional 13 shares during the period. Brown Shipley& Co Ltd purchased a new position in shares of Netflix during the fourth quarter worth $27,000. Pathway Financial Advisers LLC boosted its position in shares of Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock worth $27,000 after buying an additional 14 shares during the period. Transce3nd LLC purchased a new position in shares of Netflix during the fourth quarter worth $32,000. Finally, Newton One Investments LLC purchased a new position in shares of Netflix during the fourth quarter worth $34,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

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.

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