Netflix (NASDAQ:NFLX) Shares Down 0% – Here’s What Happened

Netflix, Inc. (NASDAQ:NFLX)’s stock price dropped 0% on Friday . The company traded as low as $1,019.32 and last traded at $1,024.20. Approximately 765,464 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 4,049,577 shares. The stock had previously closed at $1,024.54.

Analyst Upgrades and Downgrades

NFLX has been the topic of a number of research reports. Phillip Securities lowered shares of Netflix from a “hold” rating to a “moderate sell” rating in a research note on Friday, January 24th. KeyCorp increased their price objective on shares of Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Citigroup increased their price objective on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. increased their price target on shares of Netflix from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Finally, Barclays raised shares of Netflix from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $715.00 to $900.00 in a report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,021.70.

Netflix Trading Down 2.1 %

The company’s 50 day moving average price is $940.55 and its two-hundred day moving average price is $819.90. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a market capitalization of $429.10 billion, a PE ratio of 50.59, a P/E/G ratio of 2.12 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period last year, the firm posted $2.11 earnings per share. As a group, analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the sale, the chairman now directly owns 114 shares in the company, valued at approximately $102,212.40. This trade represents a 99.76 % 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, CEO Gregory K. Peters sold 102,228 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the sale, the chief executive officer now owns 12,950 shares of the company’s stock, valued at approximately $12,700,583. The trade was a 88.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 303,220 shares of company stock worth $289,856,164. Insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several hedge funds and other institutional investors have recently bought and sold shares of NFLX. Vanguard Group Inc. increased its position in shares of Netflix by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock valued at $33,413,809,000 after acquiring an additional 171,712 shares during the last quarter. FMR LLC increased its position in shares of Netflix by 1.8% during the fourth quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock valued at $18,617,081,000 after acquiring an additional 375,234 shares during the last quarter. State Street Corp increased its position in shares of Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after acquiring an additional 426,740 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Netflix by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock valued at $8,287,823,000 after acquiring an additional 175,596 shares during the last quarter. Finally, Jennison Associates LLC increased its position in shares of Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after acquiring an additional 316,594 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

About Netflix

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.