Netflix (NASDAQ:NFLX) Shares Down 1.1%

Netflix, Inc. (NASDAQ:NFLX) dropped 1.1% on Monday . The company traded as low as $632.54 and last traded at $634.42. Approximately 670,169 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 4,163,419 shares. The stock had previously closed at $641.62.

Wall Street Analysts Forecast Growth

NFLX has been the subject of a number of recent analyst reports. Loop Capital upped their price objective on Netflix from $585.00 to $700.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Citigroup increased their price target on Netflix from $555.00 to $660.00 and gave the company a “neutral” rating in a research note on Monday, March 25th. Oppenheimer reissued an “outperform” rating and set a $725.00 price target on shares of Netflix in a research note on Friday, April 19th. KeyCorp increased their price target on Netflix from $580.00 to $705.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Finally, Canaccord Genuity Group reissued a “hold” rating and set a $585.00 price target (down from $720.00) on shares of Netflix in a research note on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $632.00.

Netflix Stock Performance

The company has a market cap of $271.41 billion, a P/E ratio of 44.03, a PEG ratio of 1.39 and a beta of 1.26. The firm has a 50 day moving average of $610.04 and a 200-day moving average of $557.57. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The company had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. During the same quarter in the prior year, the firm earned $2.88 earnings per share. Netflix’s revenue was up 14.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Netflix, Inc. will post 18.31 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Gregory K. Peters sold 5,352 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $625.00, for a total value of $3,345,000.00. Following the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $8,181,250. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Netflix news, CEO Gregory K. Peters sold 5,352 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $625.00, for a total transaction of $3,345,000.00. Following the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,181,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $610.42, for a total value of $12,553,897.72. Following the sale, the chairman now directly owns 28 shares in the company, valued at approximately $17,091.76. The disclosure for this sale can be found here. Insiders have sold a total of 50,051 shares of company stock valued at $29,400,780 over the last quarter. 1.76% of the stock is owned by corporate insiders.

Institutional Trading of Netflix

Several hedge funds and other institutional investors have recently bought and sold shares of NFLX. Ogborne Capital Management LLC boosted its position in shares of Netflix by 100.0% in the 1st quarter. Ogborne Capital Management LLC now owns 110,000 shares of the Internet television network’s stock worth $66,806,000 after purchasing an additional 55,000 shares in the last quarter. Soltis Investment Advisors LLC boosted its position in shares of Netflix by 29.5% in the 1st quarter. Soltis Investment Advisors LLC now owns 1,252 shares of the Internet television network’s stock worth $760,000 after purchasing an additional 285 shares in the last quarter. Cetera Advisor Networks LLC boosted its position in shares of Netflix by 0.6% in the 1st quarter. Cetera Advisor Networks LLC now owns 33,086 shares of the Internet television network’s stock worth $20,094,000 after purchasing an additional 186 shares in the last quarter. Cetera Advisors LLC boosted its position in shares of Netflix by 212.0% in the 1st quarter. Cetera Advisors LLC now owns 43,169 shares of the Internet television network’s stock worth $26,218,000 after purchasing an additional 29,333 shares in the last quarter. Finally, Cetera Investment Advisers boosted its position in shares of Netflix by 126.3% in the 1st quarter. Cetera Investment Advisers now owns 92,315 shares of the Internet television network’s stock worth $56,065,000 after purchasing an additional 51,513 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

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.