Netflix (NASDAQ:NFLX) Trading Down 0.6% - Here's Why

Netflix, Inc. (NASDAQ:NFLX - Get Free Report)'s share price was down 0.6% on Friday . The company traded as low as $1,133.22 and last traded at $1,137.45. Approximately 800,240 shares changed hands during trading, a decline of 79% from the average daily volume of 3,722,549 shares. The stock had previously closed at $1,144.43.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NFLX. Citigroup reiterated a "neutral" rating on shares of Netflix in a report on Monday, May 5th. Oppenheimer reiterated an "outperform" rating and set a $1,200.00 target price (up from $1,150.00) on shares of Netflix in a research note on Friday, April 18th. FBN Securities started coverage on Netflix in a research note on Thursday, March 27th. They issued an "outperform" rating and a $1,165.00 price target on the stock. Evercore ISI raised their price target on Netflix from $1,100.00 to $1,150.00 and gave the company an "outperform" rating in a report on Monday, April 21st. Finally, Robert W. Baird lifted their price target on shares of Netflix from $875.00 to $1,200.00 and gave the company an "outperform" rating in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Netflix has a consensus rating of "Moderate Buy" and an average price target of $1,084.91.

Netflix Stock Performance

The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market capitalization of $485.07 billion, a PE ratio of 57.48, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58. The firm's 50 day moving average price is $984.97 and its 200-day moving average price is $933.06.

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

Insider Activity

In related news, Chairman Reed Hastings sold 30,485 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $981.92, for a total transaction of $29,933,831.20. Following the completion of the transaction, the chairman now owns 394 shares in the company, valued at approximately $386,876.48. The trade was a 98.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction dated 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 sale, the chief financial officer now directly owns 3,691 shares in the company, valued at $3,624,746.55. This trade represents a 41.34 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 132,530 shares of company stock valued at $137,602,751. Company insiders own 1.76% of the company's stock.

Institutional Trading of Netflix

A number of large investors have recently made changes to their positions in NFLX. RMR Wealth Builders lifted its position in Netflix by 4.8% in the fourth quarter. RMR Wealth Builders now owns 4,863 shares of the Internet television network's stock valued at $4,335,000 after purchasing an additional 221 shares during the period. Czech National Bank raised its position in Netflix by 6.0% during the fourth quarter. Czech National Bank now owns 92,682 shares of the Internet television network's stock worth $82,609,000 after acquiring an additional 5,257 shares during the last quarter. Aprio Wealth Management LLC increased its stake in shares of Netflix by 15.6% during the 4th quarter. Aprio Wealth Management LLC now owns 2,186 shares of the Internet television network's stock worth $1,948,000 after purchasing an additional 295 shares in the last quarter. Matrix Trust Co acquired a new position in shares of Netflix during the 4th quarter worth approximately $162,000. Finally, Fiduciary Alliance LLC purchased a new stake in Netflix in the 4th quarter valued at approximately $349,000. 80.93% of the stock is owned by institutional investors and hedge funds.

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.