Netflix, Inc. (NASDAQ:NFLX - Get Free Report)'s stock price dropped 2.9% during mid-day trading on Thursday . The stock traded as low as $1,247.00 and last traded at $1,250.46. Approximately 1,281,969 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 3,755,306 shares. The stock had previously closed at $1,288.28.
Wall Street Analyst Weigh In
NFLX has been the subject of several research reports. Needham & Company LLC reiterated a "buy" rating and issued a $1,126.00 target price on shares of Netflix in a research report on Thursday, April 17th. JPMorgan Chase & Co. restated a "neutral" rating and set a $1,220.00 price target (up from $1,150.00) on shares of Netflix in a research report on Monday, May 19th. Robert W. Baird upped their price target on shares of Netflix from $1,200.00 to $1,300.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. UBS Group upped their price target on shares of Netflix from $1,150.00 to $1,450.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, Guggenheim restated a "buy" rating and set a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Netflix presently has a consensus rating of "Moderate Buy" and an average price target of $1,195.30.
Read Our Latest Analysis on NFLX
Netflix Stock Performance
The business's fifty day moving average price is $1,217.58 and its two-hundred day moving average price is $1,044.54. 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 capitalization of $533.17 billion, a P/E ratio of 59.34, a P/E/G ratio of 2.32 and a beta of 1.59.
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 for the quarter, topping analysts' consensus estimates of $5.74 by $0.87. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. During the same period in the previous year, the firm posted $8.28 EPS. As a group, sell-side analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.
Insider Transactions at Netflix
In related news, CAO Jeffrey William Karbowski sold 620 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $1,286.84, for a total transaction of $797,840.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Strive Masiyiwa sold 290 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $1,336.54, for a total transaction of $387,596.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 186,723 shares of company stock worth $223,307,201. 1.37% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Netflix
Hedge funds have recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC boosted its position in Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after buying an additional 13 shares during the period. Brown Shipley& Co Ltd purchased a new stake in Netflix in the 4th quarter valued at about $27,000. Transce3nd LLC purchased a new stake in Netflix in the 4th quarter valued at about $32,000. Copia Wealth Management purchased a new stake in Netflix in the 4th quarter valued at about $37,000. Finally, Flaharty Asset Management LLC purchased a new stake in Netflix in the 1st quarter valued at about $37,000. 80.93% of the stock is currently owned by institutional investors.
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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