Netflix (NASDAQ:NFLX) Shares Down 0.9% - Here's Why

Netflix, Inc. (NASDAQ:NFLX - Get Free Report)'s share price dropped 0.9% during mid-day trading on Wednesday . The company traded as low as $1,101.11 and last traded at $1,115.38. Approximately 1,570,392 shares traded hands during trading, a decline of 58% from the average daily volume of 3,705,725 shares. The stock had previously closed at $1,125.64.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NFLX. BMO Capital Markets restated an "outperform" rating and issued a $1,200.00 target price (up previously from $1,175.00) on shares of Netflix in a research note on Friday, April 18th. StockNews.com cut shares of Netflix from a "buy" rating to a "hold" rating in a report on Tuesday, February 4th. Barclays increased their price target on shares of Netflix from $900.00 to $1,000.00 and gave the stock an "equal weight" rating in a research note on Monday, April 21st. Needham & Company LLC reissued a "buy" rating and set a $1,126.00 price objective on shares of Netflix in a research note on Thursday, April 17th. Finally, Macquarie raised their target price on shares of Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a research note on Monday, April 21st. Ten investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Netflix currently has a consensus rating of "Moderate Buy" and an average price target of $1,072.12.

Netflix Trading Down 0.5 %

The stock has a 50-day moving average price of $959.28 and a two-hundred day moving average price of $910.31. The stock has a market capitalization of $476.47 billion, a PE ratio of 56.46, a PEG ratio of 2.12 and a beta of 1.55. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data 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 firm 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 quarter in the prior year, the company posted $8.28 earnings per share. As a group, equities analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Jeffrey William Karbowski sold 160 shares of Netflix stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $1,000.00, for a total transaction of $160,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gregory K. Peters sold 102,228 shares of the company's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the completion of the transaction, the chief executive officer now owns 12,950 shares in the company, valued at $12,700,583. This represents a 88.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 274,495 shares of company stock valued at $268,176,922 over the last 90 days. Insiders own 1.76% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in shares of Netflix by 109,524.3% in the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after buying an additional 8,827,662 shares during the last quarter. Norges Bank acquired a new position in shares of Netflix during the fourth quarter worth $5,019,087,000. Proficio Capital Partners LLC lifted its holdings in shares of Netflix by 123,836.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network's stock valued at $1,716,662,000 after purchasing an additional 1,924,423 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Netflix by 59.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network's stock worth $2,051,016,000 after purchasing an additional 856,307 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Netflix by 318.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network's stock worth $870,752,000 after buying an additional 743,724 shares during the last quarter. 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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