Netflix (NASDAQ:NFLX) Shares Down 1.8% - Here's What Happened

Netflix, Inc. (NASDAQ:NFLX - Get Free Report) dropped 1.8% on Tuesday . The stock traded as low as $1,209.72 and last traded at $1,211.17. Approximately 1,431,938 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 3,761,833 shares. The stock had previously closed at $1,233.27.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NFLX. Oppenheimer raised their price target on Netflix from $1,200.00 to $1,425.00 and gave the stock an "outperform" rating in a research note on Thursday, June 12th. Robert W. Baird boosted their target price on Netflix from $1,300.00 to $1,500.00 and gave the stock an "outperform" rating in a research report on Monday. The Goldman Sachs Group boosted their target price on Netflix from $1,000.00 to $1,140.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Moffett Nathanson reiterated a "buy" rating and set a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Finally, Loop Capital reiterated a "hold" rating on shares of Netflix in a research note on Tuesday, July 15th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,297.66.

Netflix Trading Down 3.2%

The stock's 50 day moving average is $1,232.59 and its 200-day moving average is $1,063.17. The company has a market capitalization of $507.97 billion, a P/E ratio of 50.86, a P/E/G ratio of 2.15 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.20.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating the consensus estimate of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The company had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter last year, the firm earned $4.88 earnings per share. The firm's quarterly revenue was up 15.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Activity at Netflix

In other news, Director Bradford L. Smith sold 3,919 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the sale, the director directly owned 7,969 shares in the company, valued at approximately $8,959,227.94. This represents a 32.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jay C. Hoag sold 32,515 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the transaction, the director directly owned 79,040 shares in the company, valued at approximately $87,099,708.80. This trade represents a 29.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 186,563 shares of company stock worth $223,147,201 over the last 90 days. Company insiders own 1.37% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Brighton Jones LLC raised its position in Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock worth $4,804,000 after buying an additional 257 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in shares of Netflix by 16.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock worth $912,000 after acquiring an additional 144 shares during the last quarter. BIP Wealth LLC raised its holdings in Netflix by 23.8% in the fourth quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock valued at $403,000 after buying an additional 87 shares during the period. Samalin Investment Counsel LLC raised its holdings in Netflix by 2.3% in the fourth quarter. Samalin Investment Counsel LLC now owns 498 shares of the Internet television network's stock valued at $445,000 after buying an additional 11 shares during the period. Finally, Congress Wealth Management LLC DE raised its holdings in Netflix by 10.3% in the fourth quarter. Congress Wealth Management LLC DE now owns 18,924 shares of the Internet television network's stock valued at $16,868,000 after buying an additional 1,771 shares during the period. Hedge funds and other institutional investors own 80.93% of the company's stock.

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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