Netflix, Inc. (NASDAQ:NFLX - Get Free Report)'s stock price fell 3.5% during trading on Tuesday . The company traded as low as $1,310.65 and last traded at $1,291.95. 1,145,464 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 3,737,117 shares. The stock had previously closed at $1,339.13.
Analyst Ratings Changes
Several research firms have weighed in on NFLX. FBN Securities assumed coverage on shares of Netflix in a research note on Thursday, March 27th. They issued an "outperform" rating and a $1,165.00 price target for the company. Evercore ISI reaffirmed an "outperform" rating on shares of Netflix in a research report on Thursday, May 15th. Canaccord Genuity Group upped their price target on Netflix from $1,200.00 to $1,380.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Loop Capital reiterated a "hold" rating on shares of Netflix in a report on Monday, March 24th. Finally, Bank of America raised their price objective on Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Eleven research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Netflix currently has a consensus rating of "Moderate Buy" and an average target price of $1,172.73.
Check Out Our Latest Research Report on NFLX
Netflix Stock Down 3.4%
The company has a market capitalization of $550.52 billion, a PE ratio of 61.13, a P/E/G ratio of 2.59 and a beta of 1.59. The stock's fifty day moving average is $1,195.33 and its two-hundred day moving average is $1,029.66. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58.
Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating 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 analysts' expectations of $10.51 billion. During the same period in the previous year, the company earned $8.28 earnings per share. As a group, analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.
Insider Buying and Selling
In related news, Director Reed Hastings sold 26,933 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $1,211.66, for a total value of $32,633,638.78. Following the transaction, the director owned 394 shares in the company, valued at approximately $477,394.04. This represents a 98.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann Mather sold 1,090 shares of the stock in a transaction on 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. Insiders have sold a total of 157,319 shares of company stock worth $184,842,109 in the last three months. Insiders own 1.37% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in NFLX. Halbert Hargrove Global Advisors LLC increased its stake in shares of Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after purchasing an additional 13 shares in the last quarter. Brown Shipley& Co Ltd bought a new position in Netflix in the 4th quarter worth approximately $27,000. Transce3nd LLC bought a new position in Netflix in the 4th quarter worth approximately $32,000. Flaharty Asset Management LLC purchased a new position in Netflix in the 1st quarter valued at approximately $37,000. Finally, Copia Wealth Management bought a new stake in Netflix during the 4th quarter valued at $37,000. Institutional investors own 80.93% of the company's stock.
Netflix Company Profile
(
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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