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Netflix (NASDAQ:NFLX) Shares Down 2.1% - Here's Why

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Netflix, Inc. (NASDAQ:NFLX - Get Free Report) shares were down 2.1% on Tuesday . The company traded as low as $1,263.05 and last traded at $1,262.62. Approximately 897,938 shares changed hands during trading, a decline of 79% from the average daily volume of 4,265,833 shares. The stock had previously closed at $1,289.62.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Robert W. Baird upped their target price on Netflix from $1,200.00 to $1,300.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Jefferies Financial Group upped their price objective on Netflix from $1,200.00 to $1,400.00 and gave the company a "buy" rating in a research report on Tuesday, June 3rd. Phillip Securities upgraded Netflix from a "moderate sell" rating to a "hold" rating in a research report on Monday, April 21st. Rosenblatt Securities upped their target price on shares of Netflix from $1,494.00 to $1,514.00 and gave the company a "buy" rating in a report on Monday, April 21st. Finally, Morgan Stanley raised their price target on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. Twelve equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,182.58.

Get Our Latest Stock Analysis on Netflix

Netflix Stock Down 1.1%

The firm has a 50-day simple moving average of $1,214.45 and a 200 day simple moving average of $1,042.85. The company has a market capitalization of $542.73 billion, a PE ratio of 60.27, a price-to-earnings-growth ratio of 2.34 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its 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 39.61% and a net margin of 23.07%. During the same quarter last year, the firm earned $8.28 earnings per share. On average, research analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Reed Hastings sold 26,977 shares of Netflix stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $1,133.05, for a total value of $30,566,289.85. Following the completion of the sale, the director owned 394 shares in the company, valued at approximately $446,421.70. The trade was a 98.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the 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 owned 3,691 shares in the company, valued at $4,179,614.58. This trade represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 186,723 shares of company stock worth $223,307,201. 1.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Netflix

Several hedge funds and other institutional investors have recently modified their holdings of NFLX. Brighton Jones LLC increased its holdings in shares of Netflix by 5.0% in the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after acquiring an additional 257 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in Netflix by 16.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after purchasing an additional 144 shares during the last quarter. BIP Wealth LLC increased its stake in Netflix by 23.8% during the fourth quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock valued at $403,000 after purchasing an additional 87 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Netflix by 39.1% during the fourth quarter. Proficio Capital Partners LLC now owns 2,161 shares of the Internet television network's stock worth $1,926,000 after purchasing an additional 607 shares during the period. Finally, Lifeworks Advisors LLC bought a new position in shares of Netflix in the 4th quarter worth about $224,000. Institutional investors own 80.93% of the company's stock.

About Netflix

(Get Free Report)

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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