Netflix (NASDAQ:NFLX) Stock Price Down 0.9% - Here's What Happened

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

Analyst Upgrades and Downgrades

NFLX has been the subject of a number of research analyst reports. Arete Research upgraded shares of Netflix to a "hold" rating in a research note on Thursday, January 23rd. Bank of America lifted their target price on shares of Netflix from $1,000.00 to $1,175.00 and gave the stock a "buy" rating in a research report on Wednesday, January 22nd. KeyCorp raised their price target on Netflix from $1,000.00 to $1,070.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. Deutsche Bank Aktiengesellschaft upped their price objective on Netflix from $650.00 to $875.00 and gave the company a "hold" rating in a research report on Wednesday, January 22nd. Finally, Guggenheim reissued a "buy" rating and issued a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,084.91.

Netflix Price 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 fifty day simple moving average of $968.34 and a two-hundred day simple moving average of $919.35. The firm has a market cap of $492.17 billion, a PE ratio of 58.32, a PEG ratio of 2.12 and a beta of 1.55.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly 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 net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. During the same quarter in the previous year, the business posted $8.28 earnings per share. Equities analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Netflix news, Chairman Reed Hastings sold 25,360 shares of Netflix stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the completion of the transaction, the chairman now directly owns 394 shares of the company's stock, valued at $362,933.10. The trade was a 98.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $1,132.38, for a total transaction of $2,945,320.38. Following the transaction, the chief financial officer now owns 3,691 shares in the company, valued at $4,179,614.58. This trade represents a 41.34 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 182,759 shares of company stock worth $186,744,388. Corporate insiders own 1.76% of the company's stock.

Institutional Trading of Netflix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in Netflix by 13.3% in the third quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network's stock worth $1,200,485,000 after purchasing an additional 198,148 shares during the period. World Investment Advisors LLC grew its holdings in shares of Netflix by 23.5% in the third quarter. World Investment Advisors LLC now owns 2,735 shares of the Internet television network's stock worth $1,940,000 after purchasing an additional 520 shares during the last quarter. Franklin Resources Inc. increased its stake in Netflix by 11.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,236,539 shares of the Internet television network's stock worth $881,652,000 after buying an additional 127,541 shares during the period. Nordea Investment Management AB lifted its holdings in Netflix by 22.7% during the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network's stock valued at $760,918,000 after buying an additional 156,958 shares in the last quarter. Finally, Capital Market Strategies LLC purchased a new stake in Netflix in the 4th quarter valued at about $472,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

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.