Netflix (NASDAQ:NFLX) Trading Down 2.9% - Time to Sell?

Netflix, Inc. (NASDAQ:NFLX - Get Free Report) was down 2.9% on Thursday . The company traded as low as $1,247.00 and last traded at $1,250.46. Approximately 1,281,969 shares were traded during trading, a decline of 66% from the average daily volume of 3,755,306 shares. The stock had previously closed at $1,288.28.

Analyst Ratings Changes

A number of equities analysts have weighed in on NFLX shares. Evercore ISI reissued an "outperform" rating on shares of Netflix in a research note on Thursday, May 15th. Loop Capital reissued a "hold" rating on shares of Netflix in a research note on Monday, March 24th. Macquarie boosted their price objective on Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a research note on Monday, April 21st. KeyCorp boosted their price objective on Netflix from $1,070.00 to $1,390.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Phillip Securities raised Netflix from a "moderate sell" rating to a "hold" rating in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Netflix currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,195.30.

Netflix Trading Down 2.9%

The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a market cap of $532.21 billion, a price-to-earnings ratio of 59.10, a price-to-earnings-growth ratio of 2.34 and a beta of 1.59. The company has a 50 day moving average of $1,219.93 and a 200-day moving average of $1,046.88.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping analysts' consensus estimates of $5.74 by $0.87. The business had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same period in the previous year, the company posted $8.28 earnings per share. On average, research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Strive Masiyiwa sold 290 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $1,336.54, for a total transaction of $387,596.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann Mather sold 1,090 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,250.00, for a total value of $1,362,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 186,723 shares of company stock worth $223,307,201. Corporate insiders own 1.37% of the company's stock.

Hedge Funds Weigh In On Netflix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Anderson Hoagland & Co. purchased a new stake in shares of Netflix during the 2nd quarter worth approximately $213,000. Sterling Financial Group Inc. acquired a new stake in Netflix during the 2nd quarter worth $205,000. White Wing Wealth Management purchased a new stake in Netflix in the second quarter valued at $256,000. Oliver Lagore Vanvalin Investment Group acquired a new position in Netflix in the second quarter valued at $558,000. Finally, Three Seasons Wealth LLC grew its holdings in shares of Netflix by 5.9% during the second quarter. Three Seasons Wealth LLC now owns 2,074 shares of the Internet television network's stock worth $2,777,000 after purchasing an additional 116 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

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.